Preview
Full Doc
 | 2000 |
180-Day Credit Agreement
180-Day Credit Agreement (330K)
Doc #212668: Click preview link for longer preview.
180-DAY CREDIT AGREEMENT
dated as of
August 25, 2000
among
THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC.,
THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G.,
FORTON B.V.
and
DYFLEX B.V.
and
WACHOVIA BANK, N.A.,
as Administrative Agent
{PAGE}
TABLE OF CONTENTS
180-DAY CREDIT AGREEMENT
PAGE
ARTICLE I
DEFINITIONS
SECTION 1.01. Definitions......................................................1
SECTION 1.02. Accounting Terms and Determinations.............................15
SECTION 1.03. Use of Defined Terms............................................16
SECTION 1.04. Terminology.....................................................16
SECTION 1.05. References......................................................16
ARTICLE II
THE CREDITS
SECTION 2.01. Commitments to Make Syndicated Loans............................16
SECTION 2.02. Method of Borrowing Syndicated Loans............................17
SECTION 2.03. Money Market Loans..............................................19
SECTION 2.04. Notes...........................................................22
SECTION 2.05. Maturity of Loans...............................................22
SECTION 2.06. Interest Rates..................................................23
SECTION 2.07. Fees............................................................25
SECTION 2.08. Optional Termination or Reduction of Commitments................27
SECTION 2.09. Mandatory Termination of Commitments............................27
SECTION 2.10. Optional Prepayments............................................27
SECTION 2.11. Mandatory Prepayments...........................................27
SECTION 2.12. General Provisions as to Payments...............................28
SECTION 2.13. Computation of Interest and Fees................................29
{PAGE}
ARTICLE III
CONDITIONS TO BORROWINGS
SECTION 3.01. Conditions to Closing...........................................30
SECTION 3.02. Conditions to All Borrowings....................................31
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
SECTION 4.01. Corporate Existence and Power...................................32
SECTION 4.02. Corporate and Governmental Authorization; No Contravention......32
SECTION 4.03. Binding Effect..................................................32
SECTION 4.04. Financial Information...........................................32
SECTION 4.05. No Litigation...................................................33
SECTION 4.06. Compliance with ERISA...........................................33
SECTION 4.07. Compliance with Laws; Payment of Taxes..........................33
SECTION 4.08. Subsidiaries....................................................33
SECTION 4.09. Investment Company Act..........................................33
SECTION 4.10. Public Utility Holding Company Act..............................34
SECTION 4.11. Ownership of Property; Liens....................................34
SECTION 4.12. No Default......................................................34
SECTION 4.13. Full Disclosure.................................................34
SECTION 4.14. Environmental Matters...........................................34
SECTION 4.15. Capital Stock...................................................35
SECTION 4.16. Margin Stock....................................................35
SECTION 4.17. Insolvency......................................................35
{PAGE}
ARTICLE V
COVENANTS
SECTION 5.01. Information.....................................................35
SECTION 5.02. Inspection of Property, Books and Records.......................37
SECTION 5.03. Ratio of Consolidated Debt to Consolidated EBITDA...............37
SECTION 5.04. Minimum Shareholders' Equity....................................37
SECTION 5.05. Restricted Payments.............................................37
SECTION 5.06. Loans or Advances...............................................37
SECTION 5.07. Acquisitions....................................................38
SECTION 5.08. Negative Pledge.................................................38
SECTION 5.09. Maintenance of Existence........................................38
SECTION 5.10. Dissolution.....................................................39
SECTION 5.11. Consolidations, Mergers and Sales of Assets.....................39
SECTION 5.12. Use of Proceeds.................................................39
SECTION 5.13. Compliance with Laws; Payment of Taxes..........................39
SECTION 5.14. Insurance.......................................................40
SECTION 5.15. Change in Fiscal Year...........................................40
SECTION 5.16. Maintenance of Property.........................................40
SECTION 5.17. Environmental Notices...........................................40
SECTION 5.18. Environmental Matters...........................................40
SECTION 5.19. Environmental Release...........................................40
SECTION 5.20. Transactions with Affiliates....................................40
SECTION 5.21. Limitation on Subsidiary Debt...................................40
SECTION 5.22. Material Subsidiaries...........................................41
SECTION 5.23. Delivery of Officer's Certificate and Resolutions...............41
{PAGE}
ARTICLE VI
DEFAULTS
SECTION 6.01. Events of Default...............................................41
SECTION 6.02. Notice of Default...............................................43
ARTICLE VII
THE AGENT
SECTION 7.01. Appointment, Powers and Immunities..............................44
SECTION 7.02. Reliance by Agent...............................................44
SECTION 7.03. Defaults........................................................44
SECTION 7.04. Rights of Agent and its Affiliates as a Bank....................45
SECTION 7.05. Indemnification.................................................45
SECTION 7.06. Consequential Damages...........................................45
SECTION 7.07. Payee of Note Treated as Owner..................................46
SECTION 7.08. Non-Reliance on Agent and Other Banks...........................46
SECTION 7.09. Failure to Act..................................................46
SECTION 7.10. Resignation or Removal of Agent.................................46
ARTICLE VIII
CHANGE IN CIRCUMSTANCES; COMPENSATION
SECTION 8.01. Basis for Determining Interest Rate Inadequate or Unfair........47
SECTION 8.02. Illegality......................................................47
SECTION 8.03. Increased Cost and Reduced Return...............................48
SECTION 8.04. Base Rate Loans or Other Fixed Rate Loans Substituted for
Affected Fixed Rate Loans................................................49
SECTION 8.05. Compensation....................................................50
SECTION 8.06. Failure to Pay in Foreign Currency..............................50
{PAGE}
SECTION 8.07. Judgment Currency...............................................51
ARTICLE IX
MISCELLANEOUS
SECTION 9.01. Notices.........................................................51
SECTION 9.02. No Waivers......................................................51
SECTION 9.03. Expenses; Documentary Taxes; Indemnification....................51
SECTION 9.04. Setoffs; Sharing of Set-Offs....................................52
SECTION 9.05. Amendments and Waivers..........................................53
SECTION 9.06. Margin Stock Collateral.........................................53
SECTION 9.07. Successors and Assigns..........................................54
SECTION 9.08. Confidentiality.................................................56
SECTION 9.09. Representation by Banks.........................................56
SECTION 9.10. Obligations Several.............................................56
SECTION 9.11. Survival of Certain Obligations.................................56
SECTION 9.12. Georgia Law.....................................................56
SECTION 9.13. Severability....................................................56
SECTION 9.14. Interest........................................................56
SECTION 9.15. Interpretation..................................................57
SECTION 9.16. Consent to Jurisdiction.........................................57
SECTION 9.17. Counterparts....................................................57
SECTION 9.18. European Economic and Monetary Union............................57
SECTION 9.19. Concerning Joint and Several Liability of the Borrowers.........59
Schedule 1.01 Material Subsidiaries
Schedule 4.08 Existing Subsidiaries
Schedule 4.14 Environmental Matters
EXHIBIT A Form of Syndicated Dollar Note
{PAGE}
EXHIBIT B Form of Syndicated Foreign Currency Note
EXHIBIT C Form of Money Market Note
EXHIBIT D Form of Opinion of Counsel for the Borrowers and the Guarantors
EXHIBIT E Form of Opinion of Special Counsel for the Agent
EXHIBIT F Form of Money Market Quote Request
EXHIBIT G Form of Money Market Quote
EXHIBIT H Form of Closing Certificate
EXHIBIT I Form of Secretary's Certificate
EXHIBIT J Form of Compliance Certificate
EXHIBIT K Form of Assignment and Acceptance
EXHIBIT L Form of Notice of Borrowing
EXHIBIT M Form of Guaranty
EXHIBIT N Form of Indemnity, Subrogation and Contribution Agreement
{PAGE}
180-DAY CREDIT AGREEMENT
AGREEMENT dated as of August 25, 2000 among THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC., THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G., FORTON B.V. and DYFLEX B.V.,
and WACHOVIA BANK, N.A., as Administrative Agent.
The parties hereto agree as follows:
ARTICLE I
DEFINITIONS
SECTION 1.01. Definitions. The terms as defined in this Section 1.01
shall, for all purposes of this Agreement and any amendment hereto (except as
herein otherwise expressly provided or unless the context otherwise requires),
have the meanings set forth herein:
"Acquisition" means any transaction pursuant to which the Parent or
any of its Subsidiaries directly or indirectly, in its own name or by or through
a nominee or an agent (a) acquires equity Securities (or warrants, options or
other rights to acquire such Securities) of any Person other than the Parent or
any Person which is not then a Subsidiary of the Parent, pursuant to a
solicitation of tenders therefor, or in one or more negotiated block, market or
other transactions not involving a tender offer, or a combination of any of the
foregoing, or (b) makes any Person a Subsidiary of the Parent, or causes any
Person other than a Subsidiary to be merged into the Parent or any of its
Subsidiaries, in any case pursuant to a merger, purchase of assets or any
reorganization providing for the delivery or issuance to the holders of such
Person's then outstanding Securities, in exchange for such Securities, of cash
or Securities of the Parent or any of its Subsidiaries, or a combination
thereof, or (c) purchases all or substantially all of the business or assets of
any Person.
"Adjusted IBOR Rate" has the meaning set forth in Section 2.06(d).
"Adjusted London Interbank Offered Rate" has the meaning set forth
in Section 2.06(c).
"Affiliate" of any Person means (i) any other Person which directly,
or indirectly through one or more intermediaries, controls such Person, (ii) any
other Person which directly, or indirectly through one or more intermediaries,
is controlled by or is under common control with such Person, or (iii) any other
Person of which such Person owns, directly or indirectly, 20% or more of the
common stock or equivalent equity interests. As used herein, the term "control"
means possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the
ownership of voting securities, by contract or otherwise.
"Agent" means Wachovia Bank, N.A., a national banking association
organized under the laws of the United States of America, in its capacity as
administrative agent for the Banks hereunder, and its successors and permitted
assigns in such capacity.
212668
|
 Chase Securities
As referenced in this 180-Day Credit Agreement:
Chase Securities Inc – Agreement" means that certain Amended and Restated
Credit Agreement dated as of February 26, 1999 among the Borrowers, the banks as
defined therein, Chase Securities Inc ., as Syndication Agent, and Wachovia, as
Administrative Agent and Documentation Agent.
"Facility Fee Payment Date" means each March 31, June 30, September
_____________
dt 212513
;
McGraw-Hill Companies
As referenced in this 180-Day Credit Agreement:
McGraw-Hill Companies, Inc – upon the conversion
thereof into other shares of its capital stock).
"S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc ., and its successors and assigns.
"Security" has the meaning assigned to such term in Section 2(l) of
the Securities Act of
_____________
dt 311228
;
Valspar
As referenced in this 180-Day Credit Agreement:
valspar – EXHIBIT 10(a)
180-DAY CREDIT AGREEMENT
dated as of
August 25, 2000
among
THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC.,
THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING
valspar – dated as of
August 25, 2000
among
THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC.,
THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G.,
FORTON B.V.
valspar – among
THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC.,
THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G.,
FORTON B.V.
and
DYFLEX B.V.
and
WACHOVIA
valspar – Agreement
{PAGE}
180-DAY CREDIT AGREEMENT
AGREEMENT dated as of August 25, 2000 among THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC., THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING
valspar – dated as of August 25, 2000 among THE VALSPAR CORPORATION,
ENGINEERED POLYMER SOLUTIONS, INC., THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G., FORTON B.V.
dt 12853
;
|
BNY
As referenced in this 180-Day Credit Agreement:
Bank of New York – System
arranged by Federal funds brokers on such day, as published by the Federal
Reserve Bank of New York on the Domestic Business Day next succeeding such day,
provided that (i) if the day
dt 43090
;
Wachovia Bank
As referenced in this 180-Day Credit Agreement:
WACHOVIA BANK, – SOLUTIONS, INC.,
THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G.,
FORTON B.V.
and
DYFLEX B.V.
and
WACHOVIA BANK, N.A.,
as Administrative Agent
{PAGE}
TABLE OF CONTENTS
180-DAY CREDIT AGREEMENT
PAGE
ARTICLE I
DEFINITIONS
SECTION 1.01. Definitions......................................................1
_____________
WACHOVIA BANK, – SOLUTIONS, INC., THE VALSPAR (UK) HOLDING CORPORATION LTD.,
THE VALSPAR (SWITZERLAND) HOLDING CORPORATION A.G., FORTON B.V. and DYFLEX B.V.,
and WACHOVIA BANK, N.A., as Administrative Agent.
The parties hereto agree as follows:
ARTICLE I
DEFINITIONS
SECTION 1.01. Definitions. The terms as defined
_____________
Wachovia Bank, – the
direction of the management or policies of a Person, whether through the
ownership of voting securities, by contract or otherwise.
"Agent" means Wachovia Bank, N.A., a national banking association
organized under the laws of the United States of America, in its capacity as
administrative agent
_____________
Wachovia Bank, – with respect to any Bank, an
amount equal to its Commitment less the aggregate outstanding principal amount
of its Syndicated Loans.
"Wachovia" means Wachovia Bank, N.A., a national banking association
and its successors.
"Wholly Owned Subsidiary" means any Subsidiary all of the shares of
capital stock
_____________
WACHOVIA BANK, – Attention: Paul C. Reyelts
Vice President-Finance
Telecopy number: 612-375-7750
Telephone number: 612-375-7702
64
{PAGE}
COMMITMENT
$150,000,000 WACHOVIA BANK, N.A., as Administrative Agent
and as a Bank
By: (SEAL)
-------------------------------
Title:
Lending Office
--------------
Wachovia Bank, N. A.
191 Peachtree Street, N.
_____________
dt 89115
;
 Womble Carlyle
As referenced in this 180-Day Credit Agreement:
Womble Carlyle – contemplated hereby as the Agent or any Bank may reasonably
request;
(f) an opinion of Womble Carlyle Sandridge & Rice, PLLC, special
counsel for the Agent, dated as of the Closing Date,
WOMBLE CARLYLE – AND THE GUARANTORS
[See Item 8 of the Closing Transcript]
{PAGE}
EXHIBIT E
OPINION OF
WOMBLE CARLYLE SANDRIDGE & RICE, PLLC
SPECIAL COUNSEL FOR THE AGENT
[Date as provided in Section 3.
WOMBLE CARLYLE – or other Transferee under the Credit Agreement without our prior
written consent.
Very truly yours,
WOMBLE CARLYLE SANDRIDGE & RICE
A PROFESSIONAL LIMITED LIABILITY COMPANY
By:
------------------------------------
James E. Lilly, Member
{PAGE}
EXHIBIT
dt 32362
|
Preview
Full Doc
| 2000 |
364-Day Bank Credit Agreement [Amended and Restated]
364-Day Bank Credit Agreement [Amended and Restated] (193K)
Doc #215234: Click preview link for longer preview.
AMENDED AND RESTATED
364-DAY
BANK CREDIT AGREEMENT
among
THE BOEING COMPANY
and the Subsidiaries which are or shall become party hereto,
as Borrower
THE BANKS PARTY HERETO
CITIBANK, N.A.,
as Administrative Agent
and
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC.
as
Joint Lead Arrangers and Joint Book Managers
dated as of September 29, 1999
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
ARTICLE 1
{S} {C} {C}
Section Page
Section 1.02. Use of Defined Terms.....................................................................80
Section 1.03. Accounting Terms.........................................................................81
ARTICLE 2
Section 2.01. The A Advances...........................................................................81
Section 2.02. Making the A Advances....................................................................82
Section 2.03. Conversion to Term Loan, Repayment.......................................................85
Section 2.04. Interest Rate on A Advances..............................................................86
Section 2.05. The B Advances............................................................................86
Section 2.06. Fees.....................................................................................94
Section 2.07. [intentionally omitted.].................................................................95
Section 2.08. Reduction of the Commitments.............................................................95
Section 2.09. Additional Interest on Eurodollar Rate A Advances........................................96
Section 2.10. Eurodollar Interest Rate Determination...................................................97
Section 2.11. Voluntary Conversion of A Advances.......................................................99
Section 2.12. Prepayments.............................................................................100
Section 2.13. Increases in Costs......................................................................102
Section 2.14. Illegality..............................................................................108
Section 2.15. Payments and Computations...............................................................109
Section 2.16. Sharing of Payments, Etc................................................................111
Section 2.17. Alteration of Commitments and Addition of Banks.........................................112
Section 2.18. Assignments; Sales of Participations and Other Interests in Notes........................114
Section 2.19. Extension of Termination Date...........................................................120
Section 2.20. Subsidiary Borrowers....................................................................122
ARTICLE 3
Section 3.01. Representations and Warranties by the Borrowers.........................................126
Section 3.02. Representation by the Banks.............................................................128
ARTICLE 4
Section 4.01. Affirmative Covenants of TBC............................................................129
Section 4.02. General Negative Covenants of TBC.......................................................131
Section 4.03. Financial Statement Terms...............................................................133
Section 4.04. Waivers of Covenants....................................................................134
ARTICLE 5
Section 5.01. Conditions Precedent to the Initial Borrowing of TBC....................................135
Section 5.02. Conditions Precedent to Each A Borrowing of TBC.........................................136
Section 5.03. Conditions Precedent to Each B Borrowing of TBC.........................................137
Section 5.04. Conditions Precedent to the Initial Borrowing of a Subsidiary Borrower..................139
Section 5.05. Conditions Precedent to Each A Borrowing of a Subsidiary Borrower.......................141
Section 5.06. Conditions Precedent to Each B Borrowing of a Subsidiary Borrower.......................142
ARTICLE 6
Section 6.01. Events of Default.......................................................................145
ARTICLE 7
Section 7.01. Authorization and Action................................................................149
Section 7.02. Administrative Agent's Reliance, Etc....................................................150
Section 7.03. Citibank, N.A. and its Affiliates.......................................................151
Section 7.04. Bank Credit Decision....................................................................151
Section 7.05. Indemnification.........................................................................152
Section 7.06. Successor Administrative Agent..........................................................153
Section 7.07. Certain Obligations May be Performed by Affiliates......................................154
ARTICLE 8
Section 8.01. Modification, Consents and Waivers......................................................154
Section 8.02. Addresses for Notices...................................................................156
Section 8.03. Costs, Expenses and Taxes...............................................................156
Section 8.04. Binding Effect..........................................................................157
Section 8.05. Severability............................................................................157
Section 8.06. Governing Law...........................................................................157
Section 8.07. Headings................................................................................158
Section 8.08. Execution in Counterparts...............................................................159
Section 8.09. Right of Set-Off........................................................................159
Section 8.10. Agreement in Effect.....................................................................160
Exhibit A-1 - Base Rate Advance A Note
Exhibit A-2 - Eurodollar Rate A Note
Exhibit A-3 - Fixed Rate B Note
Exhibit A-4 - Eurodollar Rate B Note
Exhibit B-1 - Notice of A Borrowing
Exhibit B-2 - Notice of B Borrowing
Exhibit C - Request for Alteration
Exhibit D - Borrower Subsidiary Letter
Exhibit E - Extension Request
Exhibit F - Continuation Note
Exhibit G - Opinion of Chief Legal Officer of Borrower
Exhibit H - Opinion of Counsel for Administrative Agent
Exhibit I - Opinion of in-house counsel to Subsidiary Borrower
Exhibit J - Guaranty of TBC
Schedule I - Commitments
{/TABLE}
{PAGE}
THIS BANK CREDIT AGREEMENT (the "Agreement") dated as of
September 29, 1999, is by and among: THE BOEING COMPANY, a Delaware corporation
("TBC" or the "Company"); the BORROWERS (as defined below); the BANKS (as
defined below); CITIBANK, N.A., in its capacity as administrative agent for the
Banks (in such capacity, the "Administrative Agent"); and THE CHASE MANHATTAN
BANK, in its capacity as syndication agent for the Banks (in such capacity, the
"Syndication Agent").
RECITALS
TBC is party to an Amended and Restated 364-Day Bank Credit
Agreement dated as of September 30, 1998 (the "Existing Credit Agreement") with
the banks, financial institutions and other institutional lenders party thereto
and Citibank, N.A., as Administrative Agent for the Banks and such other
lenders.
The parties to this Amendment and Restatement desire to amend
the Existing Credit Agreement in its entirety to read as set forth below:
ARTICLE 1
Definitions
Section 1.01. Definitions.
As used in this Agreement, the following terms shall have
the meanings set out respectively after each:
"A Advance"--An advance made by a Bank to a Borrower as part
of an A Borrowing and refers to a Base Rate Advance or a Eurodollar Rate A
Advance, each of which shall be a "Type" of A Advance.
"A Borrowing"--A borrowing consisting of simultaneous A
Advances of the same Type made by each of the Banks pursuant to Section 2.01.
"A Note"--A promissory note of a Borrower payable to the order
of any Bank, in substantially the form of Exhibit A-1 or A-2 hereto, evidencing
the indebtedness of that Borrower to such Bank resulting from the aggregate of
all Base Rate Advances and the aggregate of all Eurodollar Rate A Advances,
respectively, made by such Bank to that Borrower.
"Administrative Agent"--Citibank, N.A. acting in its capacity
as administrative agent for the Banks, or any successor Administrative Agent
appointed pursuant to Section 7.06.
"Administrative Agent's Account"--The account of the
Administrative Agent maintained by the Administrative Agent with Citibank,
N.A., at its office at 2 Pennsway, Corporate Commons, Suite 200, New Castle,
Delaware 19720, Account No. 35852248, Attention: Jay Moffitt.
"Advance"--An A Advance or a B Advance.
"Agent"--Individually and collectively, as the context shall
require, the Administrative Agent and the Syndication Agent.
"Agreement"--This agreement, as it may be amended or otherwise
modified from time to time, and any written additions or supplements hereto.
"Applicable Lending Office"--With respect to each Bank, such
Bank's Domestic Lending Office in the case of a Base Rate Advance, and such
Bank's Eurodollar Lending Office in the case of a Eurodollar Rate Advance and,
in the case of a B Advance, the office of such Bank notified by such Bank to the
Administrative Agent as its Applicable Lending Office with respect to such B
Advance.
"Applicable Margin"--Means
with respect to Base Rate Advances, 0% per annum;
with respect to Eurodollar Rate Advances which have not been
Converted to Term Loans, 0.11% per annum;
with respect to Eurodollar Rate Advances which have been
Converted to Term Loans, a fluctuating per annum amount,
commencing on the date of the Conversion and ending on the
Maturity Date, equal at any time to then-applicable rate set
forth in the pricing grid below, depending upon the rating of
the long-term senior unsecured debt of TBC then in effect:
{TABLE}
{CAPTION}
{S} {C} {C}
-------------------------------------------------------- ----------------------------------
Public Debt Rating
S&P/Moody's Applicable Margin
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
Level I
A by S&P or A2 by Moody's or above 0.15%
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
Level II
less than level I but at least A- by S&P or A3 by 0.20%
Moody's
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
Level III
less than level II but at least BBB+ by S&P or Baa1 by 0.25%
Moody's
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
Level IV
less than level III 0.375%
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
-------------------------------------------------------- ----------------------------------
{/TABLE}
provided, however, that in the event and during the
continuance of an Event of Default which is described in
Section 6.01(a), the Applicable Margin shall immediately
increase by 1.0% above the Applicable Margin then in effect,
and, in the case of a Eurodollar Rate Advance, such Advance
shall automatically convert to a Base Rate Advance at the end
of the Interest Period then in effect for such Eurodollar Rate
Advance. If the ratings from S&P and Moody's shall fall within
different levels, then the Applicable Margin shall be
determined by the higher of the two ratings except that, if
the lower of such rating is more than one level below the
higher of such ratings, the Applicable Margin shall be
determined based on the level above the lower of such ratings.
If at any time no rating is available from S&P and Moody's or
any other nationally recognized statistical rating
organization designated by TBC and approved in writing by the
Majority Banks, the Applicable Margin for each Interest Period
or each other period commencing during the thirty days
following such ratings becoming unavailable shall be the
Applicable Margin in effect immediately prior to such ratings
becoming unavailable. Thereafter the rating to be used for
purposes of this Agreement until ratings from S&P and Moody's
become available shall be as agreed between TBC and the
Administrative Agent, and TBC and the Administrative Agent
shall use good faith efforts to reach such agreement within
such thirty day period, provided, however, that if no such
agreement is reached within such thirty day period the
Applicable Margin thereafter, until such agreement shall have
been reached, shall be (A) if any such rating shall have
become unavailable as a result of S&P or Moody's ceasing its
business as a rating agency, the Applicable Margin in effect
immediately prior to such cessation or (B) otherwise, the
Applicable Margin as set forth under Level IV above.
215234
|
Chase Securities
As referenced in this 364-Day Bank Credit Agreement [Amended and Restated]:
CHASE SECURITIES, INC – shall become party hereto,
as Borrower
THE BANKS PARTY HERETO
CITIBANK, N.A.,
as Administrative Agent
and
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC .
as
Joint Lead Arrangers and Joint Book Managers
dated as of September 29, 1999
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
ARTICLE 1
{S} {C} {C}
Section Page
Section 1.
_____________
dt 1521956
;
ABN AMRO Bank
As referenced in this 364-Day Bank Credit Agreement [Amended and Restated]:
ABN AMRO BANK – as Syndication Agent
By /S/ MATTHEW H. MASSIE
Name: Matthew H. Massie
Title: Managing Director
ABN AMRO BANK N.V.
By /S/ DAVID J. THOMAS
Name: David J. Thomas
Title: Group Vice President
ABN Amro Bank – S} {C} {C} {C} {C}
Name of Bank Commitment Domestic Lending Office Eurodollar Lending Office
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
ABN Amro Bank N.V. $52,000,000 208 South LaSalle Street, Suite 1500 208 South LaSalle Street,
dt 45399
;
|
Citibank
As referenced in this 364-Day Bank Credit Agreement [Amended and Restated]:
CITIBANK, N.A. – BANK CREDIT AGREEMENT
among
THE BOEING COMPANY
and the Subsidiaries which are or shall become party hereto,
as Borrower
THE BANKS PARTY HERETO
CITIBANK, N.A. ,
as Administrative Agent
and
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC.
as
Joint
_____________
Citibank, N.A. – Default.......................................................................145
ARTICLE 7
Section 7.01. Authorization and Action................................................................149
Section 7.02. Administrative Agent's Reliance, Etc....................................................150
Section 7.03. Citibank, N.A. and its Affiliates.......................................................151
Section 7.04. Bank Credit Decision....................................................................151
Section 7.05. Indemnification.........................................................................152
Section 7.06. Successor Administrative Agent..........................................................
_____________
CITIBANK, N.A. – by and among: THE BOEING COMPANY, a Delaware corporation
("TBC" or the "Company"); the BORROWERS (as defined below); the BANKS (as
defined below); CITIBANK, N.A. , in its capacity as administrative agent for the
Banks (in such capacity, the "Administrative Agent"); and THE CHASE MANHATTAN
BANK, in its
_____________
Citibank, N.A. – Agreement dated as of September 30, 1998 (the "Existing Credit Agreement") with
the banks, financial institutions and other institutional lenders party thereto
and Citibank, N.A. , as Administrative Agent for the Banks and such other
lenders.
The parties to this Amendment and Restatement desire to amend
the Existing
_____________
Citibank, N.A. – all Base Rate Advances and the aggregate of all Eurodollar Rate A Advances,
respectively, made by such Bank to that Borrower.
"Administrative Agent"--Citibank, N.A. acting in its capacity
as administrative agent for the Banks, or any successor Administrative Agent
appointed pursuant to Section 7.06.
"Administrative
_____________
dt 146408
;
BofA
As referenced in this 364-Day Bank Credit Agreement [Amended and Restated]:
BANK OF AMERICA, – BANK PLC,
NASSAU BRANCH
By /S/ SIMON CLARK
Name: Simon Clark
Title: Regional Financial Officer
BANK OF AMERICA, N.A.
By /S/ DEANNE PRUST ALLEN
Name: Deanne Prust Allen
Title: Vice President
Bank of America – 212) 401-1424 Tel: (212) 401-1424
Fax: (212) 401-1494 Fax: (212) 401-1494
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
Bank of America $133,000,000 444 South Flower Street, 901 Main Street
Suite 400 Dallas, TX
dt 40900
;
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| 2002 |
364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]
364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated] (266K)
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AMENDED AND RESTATED 364-DAY
COMPETITIVE ADVANCE AND REVOLVING
CREDIT FACILITY AGREEMENT
Dated as of December 14, 2001
among
AT&T CORP.,
THE LENDERS PARTY HERETO,
CITIBANK, N.A., CREDIT SUISSE FIRST BOSTON,
DEUTSCHE BANK AG NEW YORK BRANCH and
GOLDMAN
SACHS CREDIT PARTNERS L.P.,
as Administrative Agents,
and
CITIBANK, N.A.,
as Paying Agent,
with
SALOMON SMITH BARNEY INC., CREDIT SUISSE
FIRST BOSTON, DEUTSCHE BANC
ALEX. BROWN INC. and GOLDMAN SACHS
CREDIT PARTNERS L.P.,
as Joint Lead Arrangers and Bookrunners
and
BANK ONE, NA, THE BANK OF TOKYO-
MITSUBISHI, LTD., NEW YORK BRANCH, BANK OF
AMERICA, N.A., BARCLAYS BANK PLC, BNP
PARIBAS, THE ROYAL BANK OF SCOTLAND PLC,
NEW YORK BRANCH, INTESABCI, NEW YORK
BRANCH, THE FUJI BANK, LIMITED, HSBC BANK
USA, and FIRST UNION NATIONAL BANK,
as Co-Arrangers
{PAGE}
i
TABLE OF CONTENTS
Page
ARTICLE I Definitions
SECTION 1.01. Defined Terms..........................................1
ARTICLE II The Credits
SECTION 2.01. Commitments...........................................17
SECTION 2.02. Loans.................................................17
SECTION 2.03. Competitive Bid Procedure.............................18
SECTION 2.04. Standby Borrowing Procedure...........................20
SECTION 2.05. Conversion and Continuation of Standby Loans..........20
SECTION 2.06. Fees..................................................21
SECTION 2.07. Repayment of Loans; Evidence of Debt..................22
SECTION 2.08. Interest on Loans.....................................22
SECTION 2.09. Default Interest......................................23
SECTION 2.10. Alternate Rate of Interest............................23
SECTION 2.11. Termination and Reduction of Commitments..............23
SECTION 2.12. Prepayment............................................24
SECTION 2.13. Reserve Requirements; Change in Circumstances.........24
SECTION 2.14. Change in Legality....................................26
SECTION 2.15. Indemnity.............................................26
SECTION 2.16. Pro Rata Treatment....................................27
SECTION 2.17. Sharing of Setoffs....................................27
SECTION 2.18. Payments..............................................28
SECTION 2.19. Taxes.................................................28
SECTION 2.20. Mandatory Assignment; Commitment Termination..........30
ARTICLE III Representations and Warranties
SECTION 3.01. Organization; Powers..................................30
SECTION 3.02. Authorization.........................................31
SECTION 3.03. Enforceability........................................31
SECTION 3.04. Governmental Approvals................................31
SECTION 3.05. Financial Statements..................................31
SECTION 3.06. Litigation; Compliance with Laws......................31
SECTION 3.07. Federal Reserve Regulations...........................32
SECTION 3.08. Investment Company Act; Public Utility
Holding Company Act...................................32
SECTION 3.09. Use of Proceeds.......................................32
SECTION 3.10. No Material Misstatements.............................32
ARTICLE IV Conditions of Effectiveness and of Lending
SECTION 4.01. All Borrowings........................................32
SECTION 4.02. Closing Date..........................................33
ARTICLE V Covenants
SECTION 5.01. Existence.............................................33
SECTION 5.02. Financial Statements, Reports, Etc....................33
{PAGE}
ii
SECTION 5.03. Maintaining Records...................................34
SECTION 5.04. Use of Proceeds.......................................34
SECTION 5.05. Consolidations, Mergers, Sales of Assets
and Separation Transactions...........................34
SECTION 5.06. Limitations on Liens..................................35
SECTION 5.07. Limitations on Sale and Leaseback Transactions........35
SECTION 5.08. Total Debt to EBITDA Ratio............................35
ARTICLE VI Events of Default
ARTICLE VII The Agents
ARTICLE VIII Miscellaneous
SECTION 8.01. Notices...............................................39
SECTION 8.02. Survival of Agreement.................................39
SECTION 8.03. Binding Effect........................................39
SECTION 8.04. Successors and Assigns................................40
SECTION 8.05. Expenses; Indemnity...................................42
SECTION 8.06. Applicable Law........................................42
SECTION 8.07. Waivers; Amendment....................................43
SECTION 8.08. Entire Agreement......................................43
SECTION 8.09. Severability..........................................43
SECTION 8.10. Counterparts..........................................43
SECTION 8.11. Headings..............................................43
SECTION 8.12. Jurisdiction, Etc.....................................43
SECTION 8.13. Waiver of Jury Trial...................................1
{PAGE}
iii
Exhibits and Schedules
Exhibit A-1 Form of Competitive Bid Request
Exhibit A-2 Form of Notice of Competitive Bid Request
Exhibit A-3 Form of Competitive Bid
Exhibit A-4 Form of Competitive Bid Accept/Reject Letter
Exhibit A-5 Form of Standby Borrowing Request
Exhibit B Form of Assignment and Acceptance
Exhibit C Form of Opinion of Counsel for AT&T Corp.
Exhibit D Form of Note
Exhibit E Form of AT&T Business Guaranty
Schedule 2.01 Commitments
{PAGE}
AMENDED AND RESTATED 364-DAY COMPETITIVE ADVANCE AND REVOLVING
CREDIT FACILITY AGREEMENT (the "Agreement") dated as of December [__], 2001,
among AT&T CORP., a New York corporation (the "Borrower"), the lenders listed in
Schedule 2.01 (the "Lenders"), CITIBANK, N.A. ("Citibank"), CREDIT SUISSE FIRST
BOSTON ("CSFB"), DEUTSCHE BANK AG NEW YORK BRANCH ("DB") and GOLDMAN SACHS
CREDIT PARTNERS L.P. ("GSCP"), as administrative agents for the Lenders (in such
capacity, the "Administrative Agents"), Citibank, as paying agent for the
Lenders (in such capacity, the "Paying Agent") and with SALOMON SMITH BARNEY
INC., CSFB, DEUTSCHE BANC ALEX. BROWN INC. ("DBAB") and GSCP, as joint lead
arrangers and bookrunners (the "Joint Lead Arrangers").
PRELIMINARY STATEMENTS
(1) The Borrower is a party to that certain 364-Day Competitive Advance and
Revolving Credit Facility Agreement dated as of December 28, 2000, among the
Borrower, the lenders party thereto, the co-arrangers party thereto, The Chase
Manhattan Bank ("Chase"), CSFB and GSCP, as administrative agents, Chase, as
paying agent, and Chase Securities Inc., CSFB and GSCP, as joint lead arrangers
and bookrunners (the "Existing Bank Agreement").
(2) The parties hereto have agreed to amend and restate the Existing Bank
Agreement, on the terms and conditions hereinafter set forth, to provide for,
among other things, a reduction in the Total Commitment of the Lenders
hereunder.
(3) The Borrower has requested that the Lenders continue to extend credit to the
Borrower to enable it to borrow on a standby revolving credit basis on and after
the date hereof and at any time and from time to time prior to the Maturity Date
(as herein defined) a principal amount not in excess of $8,000,000,000 at any
time outstanding. The Borrower has also requested that the Lenders continue to
provide a procedure pursuant to which the Borrower may invite the Lenders to bid
on an uncommitted basis on short-term borrowings by the Borrower maturing on or
prior to the Maturity Date. The proceeds of such borrowings are to be used to
refinance the Existing Bank Agreement (as hereinafter defined) and for other
general corporate purposes of the Borrower, including the repayment of maturing
commercial paper of the Borrower. The Lenders are willing to extend such credit
to the Borrower on the terms and subject to the conditions herein set forth.
Accordingly, the Borrower, the Lenders and the Agents agree that, effective as
of the Closing Date, the Existing Bank Agreement is hereby amended and restated
in its entirety to read as follows:
DEFINITIONS
DEFINED TERMS. As used in this Agreement, the following terms shall have the
meanings specified below:
"ABR Borrowing" shall mean a Borrowing comprised of ABR Loans.
"ABR Loan" shall mean any Standby Loan bearing interest at a
rate determined by reference to the Alternate Base Rate in accordance
with the provisions of Article II.
"Administrative Agents" shall have the meaning specified in
the recital of parties to this Agreement.
"Administrative Fees" shall have the meaning assigned to such
term in Section 2.06(c).
{PAGE}
2
"Affiliate" shall mean, when used with respect to a specified
person, another person that directly or indirectly controls or is
controlled by or is under common control with the person specified.
"Agent Parties" shall mean the Agents and the Joint Lead
Arrangers.
"Agents" shall mean the Administrative Agents and the Paying
Agent.
"Alternate Base Rate" shall mean, for any day, a rate per
annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to
the greater of (a) the Prime Rate in effect on such day and (b) the
Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. For
purposes hereof, "Prime Rate" shall mean the rate of interest per annum
publicly announced from time to time by the Paying Agent as its prime
rate in effect at its principal office in New York City; each change in
the Prime Rate shall be effective on the date such change is publicly
announced as effective. For purposes hereof, "Federal Funds Effective
Rate" shall mean, for any day, the weighted average of the rates on
overnight Federal funds transactions with members of the Federal
Reserve System arranged by Federal funds brokers, as released on the
next succeeding Business Day by the Federal Reserve Bank of New York,
or, if such rate is not so released for any day which is a Business
Day, the arithmetic average (rounded upwards to the next 1/100th of
1%), as determined by the Paying Agent, of the quotations for the day
of such transactions received by the Paying Agent from three Federal
funds brokers of recognized standing selected by it. If for any reason
the Paying Agent shall have determined (which determination shall be
conclusive absent manifest error) that it is unable to ascertain the
Federal Funds Effective Rate for any reason, including the inability or
failure of the Paying Agent to obtain sufficient quotations in
accordance with the terms thereof, the Alternate Base Rate shall be
determined without regard to clause (b) of the first sentence of this
definition until the circumstances giving rise to such inability no
longer exist. Any change in the Alternate Base Rate due to a change in
the Prime Rate or the Federal Funds Effective Rate shall be effective
on the effective date of such change in the Prime Rate or the Federal
Funds Effective Rate, respectively.
"Applicable Facility Fee Percentage" shall mean on any date, a
percentage per annum determined by reference to the Public Debt Ratings
in effect on such date as set forth below:
{PAGE}
3
APPLICABLE FACILITY FEE PERCENTAGE PRICING GRID
{TABLE}
{CAPTION}
APPLICABLE
PUBLIC DEBT FACILITY
RATINGS FEE
S&P/MOODY'S PERCENTAGE
----------- ----------
{S} {C}
Level 1
Greater than or 0.075%
equal
to A and A2
Level 2
Greater than or 0.085%
equal to
A- or A3 and
A-1 and P-1 but
less than Level 1
Level 3
Greater than or 0.10%
equal to A- or
A3 and A-2 and
P-2 but less
than Level 2
Level 4
Greater than or 0.10%
equal to BBB+
or Baa1 but less
than Level 3
Level 5
Greater than or
equal to BBB or
Baa2 but less 0.125%
than Level 4
Level 6
Less than BBB
and Baa2 0.175%
{/TABLE}
"Applicable Margin" shall mean on any date, with respect to
Eurodollar Standby Loans, a percentage per annum determined by
reference to the Public Debt Ratings in effect on such date as set
forth below:
{PAGE}
4
APPLICABLE MARGIN PRICING GRID
{TABLE}
{CAPTION}
PUBLIC DEBT
RATINGS APPLICABLE
S&P/MOODY'S MARGIN
{S} {C}
Level 1
Greater than or 0.325%
equal
to A and A2
Level 2
Greater than or 0.415%
equal to
A- or A3 and
A-1 and P-1 but
less than Level 1
Level 3
Greater than or 0.525%
equal to A- or
A3 and A-2 and
P-2 but less
than Level 2
Level 4
Greater than or 0.65%
equal to BBB+
or Baa1 but
less
than Level 3
Level 5
Greater than or
equal to BBB or
Baa2 but less 0.875%
than Level 4
Level 6
Less than BBB
and Baa2 1.325%
{/TABLE}
"Assignment and Acceptance" shall mean an assignment and
acceptance entered into by a Lender and an assignee with the consent of
the Borrower, and accepted by the Paying Agent in accordance with
Section 8.04(e), substantially in the form of Exhibit B hereto.
"AT&T Broadband" means the Borrower's broadband business;
provided that for purposes of the definition of "Indebtedness", "AT&T
Broadband" shall mean any Person or Persons (whether existing as of the
date hereof or subsequently formed) holding any significant portion of
the Borrower's broadband business upon consummation of a Separation
Transaction.
{PAGE}
5
"AT&T Business" means a Person (whether existing as of the
date hereof or subsequently formed) that holds all or substantially all
of the Borrower's consumer services and business services businesses
upon consummation of a Separation Transaction involving AT&T Broadband.
"AT&T Business Spinoff" has the meaning set forth in Section
5.05(c).
"AT&T Latin America" means AT&T Latin America Corp., a
Delaware corporation.
"At Home Corporation" means At Home Corporation, a Delaware
corporation.
"Attributable Debt" shall mean, as of the date of its
determination, the present value (discounted semiannually at an
interest rate implicit in the terms of the lease) of the obligation of
a lessee for rental payments pursuant to any Sale and Leaseback
Transaction (reduced by the amount of the rental obligations of any
sublessee of all or part of the same property) during the remaining
term of such Sale and Leaseback Transaction (including any period for
which the lease relating thereto has been extended), such rental
payments not to include amounts payable by the lessee for maintenance
and repairs, insurance, taxes, assessments and similar charges and for
contingent rents (such as those based on sales); provided, however,
that in the case of any Sale and Leaseback Transaction in which the
lease is terminable by the lessee upon the payment of a penalty,
Attributable Debt shall mean the lesser of the present value of (a) the
rental payments to be paid under such Sale and Leaseback Transaction
until the first date (after the date of such determination) upon which
it may be so terminated plus the then applicable penalty upon such
termination and (b) the rental payments required to be paid during the
remaining term of such Sale and Leaseback Transaction (assuming such
termination provision is not exercised).
"Board" shall mean the Board of Governors of the Federal
Reserve System of the United States.
"Board of Directors" shall mean the Board of Directors of the
Borrower or any duly authorized committee thereof.
"Borrowing" shall mean a group of Loans of a single Type made
by the Lenders (or, in the case of a Competitive Borrowing, by the
Lender or Lenders whose Competitive Bids have been accepted pursuant to
Section 2.03) on a single date and as to which a single Interest Period
is in effect.
"Business Day" shall mean any day (other than a day which is a
Saturday, Sunday or legal holiday in the State of New York) on which
banks are open for business in New York City; provided, however, that,
when used in connection with a Eurodollar Loan, the term "Business Day"
shall also exclude any day on which banks are not open for dealings in
dollar deposits in the London interbank market.
"Closing Date" shall mean the date hereof.
{PAGE}
6
"Code" shall mean the Internal Revenue Code of 1986, as the
same may be amended from time to time.
"Commitment" shall mean, with respect to each Lender, the
Commitment of such Lender as set forth in Schedule 2.01 hereto.
"Competitive Bid" shall mean an offer by a Lender to make a
Competitive Loan pursuant to Section 2.03.
"Competitive Bid Accept/Reject Letter" shall mean a
notification made by the Borrower pursuant to Section 2.03(d) in the
form of Exhibit A-4.
"Competitive Bid Rate" shall mean, as to any Competitive Bid
made by a Lender pursuant to Section 2.03(b), (i) in the case of a
Eurodollar Loan, the Margin, and (ii) in the case of a Fixed Rate Loan,
the fixed rate of interest offered by the Lender making such
Competitive Bid.
"Competitive Bid Request" shall mean a request made pursuant
to Section 2.03 in the form of Exhibit A-1.
"Competitive Borrowing" shall mean a Borrowing consisting of a
Competitive Loan or concurrent Competitive Loans from the Lender or
Lenders whose Competitive Bids for such Borrowing have been accepted by
the Borrower under the bidding procedure described in Section 2.03.
"Competitive Loan" shall mean a Loan from a Lender to the
Borrower pursuant to the bidding procedure described in Section 2.03.
Each Competitive Loan shall be a Eurodollar Competitive Loan or a Fixed
Rate Loan.
"Consolidated" refers to the consolidation of accounts in
accordance with GAAP.
"Consolidated Net Tangible Assets" shall mean, at any date, as
to the Borrower, the total assets appearing on the most recently
prepared consolidated balance sheet of the Borrower and its
Consolidated Subsidiaries as of the end of the most recent fiscal
quarter of the Borrower for which such balance sheet is available,
prepared in accordance with GAAP, less (a) all current liabilities as
shown on such balance sheet and (b) Intangible Assets.
"Default" shall mean any event or condition which upon notice,
lapse of time or both would constitute an Event of Default.
"dollars" or "$" shall mean lawful money of the United States
of America.
"Equity Interests" means, with respect to any Person, shares
of capital stock of (or other ownership or profit interests in) such
Person, warrants, options or other rights for the purchase or other
acquisition from such Person of shares of capital stock of (or other
ownership or profit interests in) such Person, securities convertible
into or exchangeable for shares of capital stock of (or other ownership
or profit interests in) such Person or
{PAGE}
7
warrants, rights or options for the purchase or other acquisition from
such Person of such shares (or such other interests), and other
ownership or profit interests in such Person (including, without
limitation, partnership, member or trust interests therein), whether
voting or nonvoting, and whether or not such shares, warrants, options,
rights or other interests are authorized or otherwise existing on any
date of determination.
"Eurodollar Borrowing" shall mean a Borrowing comprised of
Eurodollar Loans.
"Eurodollar Competitive Loan" shall mean any Competitive Loan
bearing interest at a rate determined by reference to the LIBO Rate in
accordance with the provisions of Article II.
"Eurodollar Loan" shall mean any Eurodollar Competitive Loan
or Eurodollar Standby Loan.
"Eurodollar Standby Loan" shall mean any Standby Loan bearing
interest at a rate determined by reference to the LIBO Rate in
accordance with the provisions of Article II.
"Event of Default" shall have the meaning assigned to such
term in Article VI.
"Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended.
"Existing Bank Agreement" shall have the meaning set forth in
Preliminary Statement No. (1).
"Facility Fee" shall have the meaning assigned to such term in
Section 2.06(a).
"Fee Letter" shall mean the Fee Letter dated October 19, 2001,
among the Borrower, the Joint Lead Arrangers, DB and Citibank.
"Fees" shall mean the Facility Fee, the Utilization Fee and
the Administrative Fees.
"Financial Officer" of any corporation shall mean the chief
financial officer, principal accounting officer, Treasurer or Assistant
Treasurer of such corporation.
"Fixed Rate Borrowing" shall mean a Borrowing comprised of
Fixed Rate Loans.
"Fixed Rate Loan" shall mean any Competitive Loan bearing
interest at a fixed percentage rate per annum (expressed in the form of
a decimal to no more than four decimal places) specified by the Lender
making such Loan in its Competitive Bid.
"Funded Debt" shall mean any Indebtedness maturing by its
terms more than one year from the date of the determination thereof,
including any Indebtedness renewable or extendible at the option of the
obligor to a date later than one year from the date of the
determination thereof.
{PAGE}
8
"GAAP" shall mean generally accepted accounting principles,
applied on a consistent basis.
"Governmental Authority" shall mean any Federal, state, local
or foreign court or governmental agency, authority, instrumentality or
regulatory body.
"Indebtedness" of any Person shall mean all indebtedness
representing money borrowed which is created, assumed, incurred or
guaranteed in any manner by such Person or for which such Person is
responsible or liable (whether by agreement to purchase indebtedness
of, or to supply funds to or invest in, others or otherwise), excluding
indebtedness of AT&T Latin America and Monetized Debt; provided that
for purposes of determining compliance with Section 5.08, (a)
Indebtedness in the form of guarantees entered into by the Borrower or
its Subsidiaries or for which the Borrower or any of its Subsidiaries
is responsible or liable shall exclude (i) keep-well and other similar
agreements to advance or supply funds (x) for the purchase or payment
of any primary obligation of any other Person (the "primary obligor")
or (y) to maintain working capital or equity capital of the primary
obligor or otherwise maintain the net worth or solvency of the primary
obligor and (ii) guarantees of obligations for which cross-guarantees
or cross-indemnifications in favor of the Borrower or such Subsidiary
from AT&T Wireless Services, Inc., Liberty Media Corporation, AT&T
Corp., AT&T Broadband or AT&T Business exist and (b) Indebtedness shall
be calculated net of cash and cash equivalents held by the Borrower and
its Consolidated Subsidiaries on the date of determination (other than
cash and cash equivalents held by AT&T Latin America).
"Intangible Assets" shall mean the value (net of any
applicable reserves), as shown on or reflected in the most recently
prepared consolidated balance sheet of the Borrower and its
Consolidated Subsidiaries as of the end of the most recent fiscal
quarter of the Borrower of: (i) all trade names, trademarks, licenses,
patents, copyrights and goodwill; (ii) organizational costs; and (iii)
deferred charges (other than prepaid items such as insurance, taxes,
interest, commissions, rents and similar items and tangible assets
being amortized); but in no event shall the term "Intangible Assets"
include product development costs.
"Interest Payment Date" shall mean, with respect to any Loan,
the last day of the Interest Period applicable thereto and, in the case
of a Eurodollar Loan with an Interest Period of more than three months'
duration or a Fixed Rate Loan with an Interest Period of more than 90
days' duration, each day that would have been an Interest Payment Date
for such Loan had successive Interest Periods of three months' duration
or 90 days' duration, as the case may be, been applicable to such Loan
and, in addition, the date of any conversion of such Loan to a Loan of
a different Type.
"Interest Period" shall mean (a) as to any Eurodollar
Borrowing, the period commencing on the date of such Borrowing or on
the last day of the immediately preceding Interest Period applicable to
such Borrowing, as the case may be, and ending on the numerically
corresponding day (or, if there is no numerically corresponding day, on
the last day) in the calendar month that is 1, 2, 3 or 6 months
thereafter, as the Borrower may elect, (b) as to any ABR Borrowing, the
period commencing on the date of
{PAGE}
9
such Borrowing or on the last day of the immediately preceding Interest
Period applicable to such Borrowing, as the case may be, and ending on
the earliest of (i) the next succeeding March 31, June 30, September 30
or December 31, (ii) the Maturity Date, and (iii) the date such
Borrowing is converted to a Borrowing of a different Type in accordance
with Section 2.05 or repaid or prepaid in accordance with Section 2.07
or Section 2.12 and (c) as to any Fixed Rate Borrowing, the period
commencing on the date of such Borrowing and ending on the date
specified in the Competitive Bids in which the offer to make the Fixed
Rate Loans comprising such Borrowing were extended, which shall not be
earlier than seven days after the date of such Borrowing or later than
360 days after the date of such Borrowing; provided, however, that if
any Interest Period would end on a day other than a Business Day, such
Interest Period shall be extended to the next succeeding Business Day
unless, in the case of Eurodollar Loans only, such next succeeding
Business Day would fall in the next calendar month, in which case such
Interest Period shall end on the next preceding Business Day. Interest
shall accrue from and including the first day of an Interest Period to
but excluding the last day of such Interest Period.
"Joint Lead Arrangers" shall have the meaning specified in the
recital of parties to this Agreement.
"LIBO Rate" shall mean, with respect to each Interest Period,
a rate of interest determined on the basis of at least two offered
rates for deposits in United States dollars for a period equal to such
Interest Period commencing on the first day of such Interest Period
appearing on the Reuters Screen LIBO Page as of 11:00 a.m. (London
time) on the day that is two Business Days prior to the first day of
such Interest Period. If at least two such offered rates appear on the
Reuters Screen LIBO Page, the rate with respect to each Interest Period
will be the arithmetic average (rounded upwards to the next 1/16th of
1%) of such offered rates. If fewer than two offered rates appear,
"LIBO Rate" in respect of any Interest Period will be determined on the
basis of the rates at which deposits in United States dollars are
offered by the Paying Agent at approximately 11:00 a.m. (London time)
on the day that is two Business Days preceding the first day of such
Interest Period to prime banks in the London interbank market for a
period equal to such Interest Period commencing on the first day of
such Interest Period.
"Lien" means any mortgage, pledge, security interest, lien,
charge or other encumbrance, but shall not include any of the foregoing
types of encumbrances that are incidental to the conduct of the
business of the Borrower or any Restricted Subsidiary or the ownership
of the property and assets of any of them and that were not incurred in
connection with the incurrence of any Indebtedness. Such incidental
encumbrances that are to be excluded from the term "Lien" include,
without limitation: (i) pledges or deposits made to secure obligations
of the Borrower or Restricted Subsidiary under workmen's compensation
laws or similar legislation; (ii) liens imposed by law, such as
materialmen's, mechanics', carriers', workmen's, vendors', repairmen's,
or other like liens incurred in the ordinary course of business; (iii)
governmental (Federal, state or municipal) liens arising out of
contracts for the purchase of products of the Borrower or a Restricted
Subsidiary, and deposits or pledges to obtain the release of any of the
foregoing liens; (iv) liens created by or resulting from any litigation
or legal proceeding
{PAGE}
10
that is currently being contested in good faith by appropriate
proceedings; (v) leases made or existing on Principal Property entered
into in the ordinary course of business by the Borrower or a Restricted
Subsidiary; (vi) landlords' liens under leases of Principal Property to
which the Borrower or a Restricted Subsidiary is a party; (vii) zoning
restrictions, easements, licenses or restrictions on the use of
Principal Property or minor irregularities in the title thereto; (viii)
deposits in connection with bids, tenders, contracts (other than for
the payment of money) to which the Borrower or any Restricted
Subsidiary is a party; (ix) deposits to secure public or statutory
obligations of the Borrower or any Restricted Subsidiary; (x) deposits
in connection with obtaining or maintaining self-insurance or to obtain
the benefits of any law, regulation or arrangement pertaining to
unemployment insurance, old age pensions, social security or similar
matters; (xi) deposits of cash or obligations of the United States of
America to secure surety, appeal or customs bonds to which the Borrower
or any Restricted Subsidiary is a party; and (xii) liens for taxes or
assessments or governmental charges or levies not yet due or
delinquent, or which can thereafter be paid without penalty, or which
are being contested in good faith by appropriate proceedings.
"Loan" shall mean a Competitive Loan or a Standby Loan,
whether made as a Eurodollar Loan, an ABR Loan or a Fixed Rate Loan, as
permitted hereby.
"Long-Term Debt" shall mean, at any time, any publicly-held
senior unsecured debt obligations outstanding at such time with a
maturity more than one year after the date of any determination
hereunder.
"Long-Term Senior Debt" shall have the meaning specified in
the definition of "Public Debt Ratings".
"Margin" shall mean, as to any Eurodollar Competitive Loan,
the margin (expressed as a percentage rate per annum in the form of a
decimal to no more than four decimal places) to be added to or
subtracted from the LIBO Rate in order to determine the interest rate
applicable to such Loan, as specified in the Competitive Bid relating
to such Loan.
"Margin Regulations" shall mean Regulations T, U and X of the
Board as from time to time in effect, and all official rulings and
interpretations thereunder or thereof.
"Margin Stock" shall have the meaning given such term under
Regulation U of the Board.
"Material Adverse Effect" shall mean a materially adverse
effect on the business, assets, operations or condition, financial or
otherwise, of the Borrower and its Subsidiaries taken as a whole (it
being understood that neither the proposed Separation Transactions nor
any event, condition or result reflected in reports or financial
statements filed with the SEC prior to November 13, 2001, shall be
deemed to give rise to a Material Adverse Effect).
"Maturity Date" shall mean December 13, 2002.
{PAGE}
11
"Monetized Debt" shall mean Indebtedness of the Borrower or a
non-operating Subsidiary of the Borrower secured by capital stock of
Persons not directly or indirectly controlled by the Borrower
(collectively, the "Available Stock"), so long as the Borrower or such
non-operating Subsidiary has at all times sufficient Available Stock so
that upon maturity or exchange prior to maturity it may satisfy
substantially all of the obligations arising under such Indebtedness
(other than obligations to pay cash coupon amounts on such
Indebtedness) solely by the delivery of Available Stock.
"Moody's" shall mean Moody's Investors Service, Inc. or any
successor rating agency.
"Operational EBITDA" shall mean, for any period operating
income (or operating loss) of the Borrower and its Consolidated
Subsidiaries, excluding the operating income (or operating loss) of
AT&T Latin America and At Home Corporation plus, to the extent deducted
in determining such operating income (or operating loss), the sum of
(a) depreciation expense, (b) amortization expense, (c) restructuring
and other charges and (d) asset impairment charges. If the Borrower
acquires (whether by purchase, merger, consolidation or otherwise) all
or substantially all of the assets or property of any other Person, or
engages in any asset sale permitted by Section 5.05, during any period
in respect of which Operational EBITDA is to be determined hereunder,
such Operational EBITDA will be determined on a pro forma basis as if
such acquisition or such asset sale occurred on the first day of the
relevant period if the Operational EBITDA attributable to such
acquisition or assets sold represents more than 10% of the Borrower's
Operational EBITDA calculated immediately prior to giving effect to
such acquisition or such asset sale.
"Paying Agent" shall have the meaning specified in the recital
of parties to this Agreement.
"Person" or "person" shall mean any natural person,
corporation, business trust, joint venture, association, company,
partnership or government, or any agency or political subdivision
thereof.
"Principal Property" of the Borrower shall mean any land, land
improvements, building and associated factory, laboratory office and
switching equipment (excluding all products marketed by the Borrower or
any Subsidiary) constituting a manufacturing facility, development
facility, warehouse facility, service facility, office facility or
operating facility (including any portion thereof), which facility (a)
is owned by or leased to the Borrower or any Restricted Subsidiary, (b)
is located within the United States and (c) has an acquisition cost
plus capitalized improvements in excess of 0.25% of Consolidated Net
Tangible Assets of the Borrower as of the date of such determination,
other than (i) any such facility, or portion thereof, which has been
financed by obligations issued by or on behalf of a State, a Territory
or a possession of the United States, or any political subdivision of
any of the foregoing, or the District of Columbia, the interest on
which is excludable from gross income of the holders thereof (other
than a "substantial user" of such facility or a "related person" as
those terms are used in Section 103 of the Code) pursuant to the
provisions of Section 103 of the Code (or any similar provisions
{PAGE}
12
hereafter enacted) as in effect at the time of issuance of such
obligations, (ii) any such facility which the Borrower's Board of
Directors may by resolution declare is not of material importance to
the Borrower and the Restricted Subsidiaries taken as a whole and (iii)
any such facility, or portion thereof, owned or leased jointly or in
common with one or more persons other than the Borrower and any
Subsidiary of the Borrower and in which the interest of the Borrower
and all Subsidiaries of the Borrower does not exceed 50%.
"Public Debt Ratings" means, as of any date, the lowest rating
(other than any rating based on, or incorporating an expectation of,
the prospective occurrence and consequences of a Separation Transaction
in which AT&T Broadband is separated from AT&T Business) that has been
most recently announced by either S&P or Moody's, as the case may be,
for any class of non-credit enhanced long-term senior unsecured debt
(the "Long-Term Senior Debt") and commercial paper (the "Short-Term
Debt") issued by the Borrower; provided that (i) if the Borrower has
caused the credit facility evidenced by this Agreement to be rated by
S&P and Moody's, then such ratings shall be used in lieu of the ratings
applicable to Long-Term Senior Debt and Short-Term Debt of the Borrower
for all purposes hereunder, (ii) if the event referred to in the
preceding clause (i) has not occurred and AT&T Business has assumed the
obligations of Borrower hereunder then the Long-Term Senior Debt and
Short-Term Debt ratings of AT&T Business will be used in lieu of such
ratings of the Borrower and (iii) if the events referred to in the
preceding clauses (i) and (ii) have not occurred but the Borrower has
delivered to the Paying Agent a guaranty in substantially the form of
Exhibit E hereto (the "AT&T Business Guarantee"), pursuant to which
AT&T Business guarantees the obligations of the Borrower under this
Agreement, the ratings established by S&P and Moody's for Long-Term
Senior Debt of AT&T Business shall be used in lieu of the ratings
applicable to Long-Term Senior Debt of the Borrower for all purposes
hereunder and, if higher, the ratings established by S&P and Moody's
for the Short-Term Debt of AT&T Business shall be used in lieu of the
ratings applicable to Short-Term Debt of the Borrower for all purposes
hereunder, in each case, for such time as the AT&T Business Guarantee
remains in effect. For purposes of the foregoing, with respect to the
Borrower or AT&T Business, as the case may be, (a) if S&P or Moody's
shall have in effect a rating for only one but not both of the
Long-Term Senior Debt or the Short-Term Debt, the Applicable Margin and
the Applicable Facility Fee Percentage shall be the lowest level that
may be determined by reference to the available rating; (b) if only one
of S&P and Moody's shall have in effect Public Debt Ratings, the
Applicable Margin and the Applicable Facility Fee Percentage shall be
determined by reference to the available rating; (c) if neither S&P nor
Moody's shall have in effect Public Debt Ratings for either of the
Long-Term Senior Debt or the Short-Term Debt, the Applicable Margin and
the Applicable Facility Fee Percentage will be set in accordance with
Level 6 under the definition of "Applicable Margin" or "Applicable
Facility Fee Percentage", as the case may be; (d) if any rating
established by S&P or Moody's shall be changed, such change shall be
effective as of the date on which such change is first announced
publicly by the rating agency making such change; and (e) if S&P or
Moody's shall change the basis on which ratings are established, each
reference to the Public Debt Ratings announced by S&P or Moody's, as
the case may be, shall refer to the then equivalent rating by S&P or
Moody's, as the case may be.
{PAGE}
13
"Register" shall have the meaning given such term in Section
8.04(d).
"Regulation D" shall mean Regulation D of the Board as from
time to time in effect and all official rulings and interpretations
thereunder or thereof.
"Required Lenders" shall mean, at any time, Lenders having
Commitments representing at least 51% of the Total Commitment or, if
the Commitments shall have been terminated, or for purposes of
acceleration pursuant to clause (ii) of Article VI, Lenders holding
Loans representing at least 51% of the aggregate principal amount of
the Loans outstanding.
"Responsible Officer" of any corporation shall mean any
executive officer or Financial Officer of such corporation and any
other officer or similar official thereof responsible for the
administration of the obligations of such corporation in respect of
this Agreement.
"Restricted Securities" shall mean any shares of capital stock
or Indebtedness of any Restricted Subsidiary (but shall not include any
Margin Stock).
"Restricted Subsidiary" shall mean (a) any Subsidiary of the
Borrower (i) which has substantially all of its property within the
United States of America, (ii) which owns or is a lessee of any
Principal Property, and (iii) in which the investment of the Borrower
and all other Subsidiaries of the Borrower exceeds 0.25% of
Consolidated Net Tangible Assets of the Borrower as of the date of such
determination; provided, however, that the term "Restricted Subsidiary"
shall not include (A) any Subsidiary of the Borrower (x) primarily
engaged in the business of purchasing, holding, collecting, servicing
or otherwise dealing in and with installment sales contracts, leases,
trust receipts, mortgages, commercial paper or other financing
instruments and any collateral or agreements relating thereto,
including in the business, individually or through partnerships, of
financing (whether through long- or short-term borrowings, pledges,
discounts or otherwise) the sales, leasing or other operations of the
Borrower and the Subsidiaries or any of them, or (y) engaged in the
business of financing the assets and operations of third parties;
318050
|
Chase Securities
As referenced in this 364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]:
Chase Securities Inc – party thereto, the co-arrangers party thereto, The Chase
Manhattan Bank ("Chase"), CSFB and GSCP, as administrative agents, Chase, as
paying agent, and Chase Securities Inc ., CSFB and GSCP, as joint lead arrangers
and bookrunners (the "Existing Bank Agreement").
(2) The parties hereto have agreed to amend and
_____________
dt 598168
;
AT&T
As referenced in this 364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]:
AT&T CORP – i)38
EXECUTION COPY
================================================================================
AMENDED AND RESTATED 364-DAY
COMPETITIVE ADVANCE AND REVOLVING
CREDIT FACILITY AGREEMENT
Dated as of December 14, 2001
among
AT&T CORP .,
THE LENDERS PARTY HERETO,
CITIBANK, N.A., CREDIT SUISSE FIRST BOSTON,
DEUTSCHE BANK AG NEW YORK BRANCH and
GOLDMAN
SACHS CREDIT PARTNERS
_____________
AT&T Corp – Exhibit A-5 Form of Standby Borrowing Request
Exhibit B Form of Assignment and Acceptance
Exhibit C Form of Opinion of Counsel for AT&T Corp .
Exhibit D Form of Note
Exhibit E Form of AT&T Business Guaranty
Schedule 2.01 Commitments
{PAGE}
AMENDED AND RESTATED 364-
_____________
AT&T CORP – Commitments
{PAGE}
AMENDED AND RESTATED 364-DAY COMPETITIVE ADVANCE AND REVOLVING
CREDIT FACILITY AGREEMENT (the "Agreement") dated as of December [__], 2001,
among AT&T CORP ., a New York corporation (the "Borrower"), the lenders listed in
Schedule 2.01 (the "Lenders"), CITIBANK, N.A. ("Citibank"), CREDIT SUISSE FIRST
_____________
AT&T
Corp – which cross-guarantees
or cross-indemnifications in favor of the Borrower or such Subsidiary
from AT&T Wireless Services, Inc., Liberty Media Corporation, AT&T
Corp ., AT&T Broadband or AT&T Business exist and (b) Indebtedness shall
be calculated net of cash and cash equivalents held by
_____________
AT&T Corp – by telex, telecopy, graphic scanning or other telegraphic communications
equipment of the sending party, as follows:
if to the Borrower, to it at AT&T Corp ., 295 North Maple Avenue,
Basking Ridge, New Jersey 07920, Attention of Patrick Moletteri, Senior
Treasury Manager (Facsimile No. 908-630-1965) with
_____________
dt 629977
;
AT&T LatAm
As referenced in this 364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]:
AT&T Latin America Corp – involving AT&T Broadband.
"AT&T Business Spinoff" has the meaning set forth in Section
5.05(c).
"AT&T Latin America" means AT&T Latin America Corp ., a
Delaware corporation.
"At Home Corporation" means At Home Corporation, a Delaware
corporation.
"Attributable Debt" shall mean, as of the date of
_____________
dt 656655
;
|
AT&T Wireless
As referenced in this 364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]:
AT&T Wireless Services, – primary
obligor and (ii) guarantees of obligations for which cross-guarantees
or cross-indemnifications in favor of the Borrower or such Subsidiary
from AT&T Wireless Services, Inc., Liberty Media Corporation, AT&T
Corp., AT&T Broadband or AT&T Business exist and (b) Indebtedness shall
be calculated net
_____________
dt 606044
;
Citibank
As referenced in this 364-Day Competitive Advance and Revolving Credit Facility Agreement [Amended and Restated]:
CITIBANK, N.A. – 364-DAY
COMPETITIVE ADVANCE AND REVOLVING
CREDIT FACILITY AGREEMENT
Dated as of December 14, 2001
among
AT&T CORP.,
THE LENDERS PARTY HERETO,
CITIBANK, N.A. , CREDIT SUISSE FIRST BOSTON,
DEUTSCHE BANK AG NEW YORK BRANCH and
GOLDMAN
SACHS CREDIT PARTNERS L.P.,
as Administrative Agents,
and
CITIBANK,
_____________
CITIBANK, N.A. – N.A., CREDIT SUISSE FIRST BOSTON,
DEUTSCHE BANK AG NEW YORK BRANCH and
GOLDMAN
SACHS CREDIT PARTNERS L.P.,
as Administrative Agents,
and
CITIBANK, N.A. ,
as Paying Agent,
with
SALOMON SMITH BARNEY INC., CREDIT SUISSE
FIRST BOSTON, DEUTSCHE BANC
ALEX. BROWN INC. and GOLDMAN SACHS
CREDIT PARTNERS
_____________
CITIBANK, N.A. – of December [__], 2001,
among AT&T CORP., a New York corporation (the "Borrower"), the lenders listed in
Schedule 2.01 (the "Lenders"), CITIBANK, N.A. ("Citibank"), CREDIT SUISSE FIRST
BOSTON ("CSFB"), DEUTSCHE BANK AG NEW YORK BRANCH ("DB") and GOLDMAN SACHS
CREDIT PARTNERS L.P. ("GSCP"), as
_____________
Citibank, N.A. – waived by the Borrower, anything
contained herein to the contrary notwithstanding.
THE AGENTS
In order to expedite the transactions contemplated by this Agreement,
Citibank, N.A. is hereby appointed to act as Paying Agent on behalf of the
Lenders and Citibank, N.A., Credit Suisse First Boston, Deutsche
_____________
Citibank, N.A. – the transactions contemplated by this Agreement,
Citibank, N.A. is hereby appointed to act as Paying Agent on behalf of the
Lenders and Citibank, N.A. , Credit Suisse First Boston, Deutsche Bank AG New
York Branch and Goldman Sachs Credit Partners L.P. are hereby appointed to act
_____________
dt 638628
;
More... |
Preview
Full Doc
| 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (269K)
Doc #212660: Click preview link for longer preview.
364-DAY
CREDIT AGREEMENT
Dated as of
November 17, 2000
Among
THE VALSPAR CORPORATION
The Borrowing Subsidiaries
Party Hereto
The Lenders Party Hereto
And
THE CHASE MANHATTAN BANK,
as Administrative Agent
CHASE MANHATTAN INTERNATIONAL LIMITED,
as London Agent
the AUSTRALIAN AGENT
BANK OF AMERICA, N.A.,
CITICORP USA, INC.,
WACHOVIA BANK, N.A.,
as Co-Syndication Agents and Co-Documentation Agents
---------------------------
CHASE SECURITIES INC.
as Advisor, Sole Lead Arranger and Sole Book Manager
{PAGE}
TABLE OF CONTENTS
ARTICLE I
Definitions
SECTION 1.01. Defined Terms...................................................1
SECTION 1.02. Classification of Loans and Borrowings.........................17
SECTION 1.03. Terms Generally................................................18
SECTION 1.04. Accounting Terms; GAAP.........................................18
SECTION 1.05. Exchange Rates.................................................18
SECTION 1.06. Redenomination of Certain Designated Foreign Currencies........19
ARTICLE II
The Credits
SECTION 2.01. Commitments....................................................19
SECTION 2.02. Loans and Borrowings...........................................19
SECTION 2.03. Requests for Revolving Borrowings..............................20
SECTION 2.04. Competitive Bid Procedure......................................21
SECTION 2.05. Funding of Borrowings..........................................23
SECTION 2.06. Interest Elections.............................................23
SECTION 2.07. Termination and Reduction of Commitments.......................24
SECTION 2.08. Repayment of Loans; Evidence of Debt...........................25
SECTION 2.09. Prepayment of Loans............................................25
SECTION 2.10. Fees...........................................................26
SECTION 2.11. Interest.......................................................27
SECTION 2.12. Alternate Rate of Interest.....................................28
SECTION 2.13. Increased Costs................................................28
SECTION 2.14. Break Funding Payments.........................................29
SECTION 2.15. Taxes..........................................................30
SECTION 2.16. Payments Generally; Pro Rata Treatment; Sharing of Set-offs....31
SECTION 2.17. Mitigation Obligations; Replacement of Lenders.................32
SECTION 2.18. Borrowing Subsidiaries.........................................33
SECTION 2.19. Additional Reserve Costs.......................................33
SECTION 2.20. Foreign Subsidiary Costs.......................................34
SECTION 2.21. Reliquification Bills..........................................35
ARTICLE III
Representations and Warranties
SECTION 3.01. Corporate Existence and Power..................................34
SECTION 3.02. Corporate and Governmental Authorization; No Contravention.....34
SECTION 3.03. Binding Effect.................................................35
SECTION 3.04. Financial Information..........................................35
SECTION 3.05. No Litigation..................................................35
SECTION 3.06. Compliance with ERISA..........................................35
SECTION 3.07. Compliance with Laws; Payment of Taxes.........................35
SECTION 3.08. Subsidiaries...................................................36
SECTION 3.09. Investment Company Act.........................................36
SECTION 3.10. Public Utility Holding Company Act.............................36
{PAGE}
SECTION 3.11. Ownership of Property; Liens...................................36
SECTION 3.12. No Default.....................................................36
SECTION 3.13. Full Disclosure................................................36
SECTION 3.14. Environmental Matters..........................................36
SECTION 3.15. Capital Stock..................................................37
SECTION 3.16. Margin Stock...................................................37
SECTION 3.17. Insolvency.....................................................37
ARTICLE IV
Conditions
SECTION 4.01. Effective Date.................................................37
SECTION 4.02. Each Credit Event..............................................39
SECTION 4.03. Initial Borrowing by each Borrowing Subsidiary.................39
ARTICLE V
Covenants
SECTION 5.01. Information....................................................40
SECTION 5.02. Inspection of Property, Books and Records......................41
SECTION 5.03. Ratio of Consolidated Debt to Consolidated EBITDA..............41
SECTION 5.04. Minimum Shareholders' Equity...................................41
SECTION 5.05. Restricted Payments............................................41
SECTION 5.06. Loans or Advances..............................................41
SECTION 5.07. Acquisitions...................................................42
SECTION 5.08. Negative Pledge................................................42
SECTION 5.09. Maintenance of Existence.......................................43
SECTION 5.10. Dissolution....................................................43
SECTION 5.11. Consolidations, Mergers and Sales of Assets....................43
SECTION 5.12. Use of Proceeds................................................43
SECTION 5.13. Compliance with Laws; Payment of Taxes.........................43
SECTION 5.14. Insurance......................................................44
SECTION 5.15. Change in Fiscal Year..........................................44
SECTION 5.16. Maintenance of Property........................................44
SECTION 5.17. Environmental Notices..........................................44
SECTION 5.18. Environmental Matters..........................................44
SECTION 5.19. Environmental Release..........................................44
SECTION 5.20. Transactions with Affiliates...................................44
SECTION 5.21. Limitation on Subsidiary Debt..................................45
SECTION 5.22. Subsidiary Guarantors..........................................45
ARTICLE VI
Events of Default
SECTION 6.01. Events of Default..............................................45
SECTION 6.02. Notice of Default..............................................47
ARTICLE VII
The Agents
{PAGE}
ARTICLE VIII
Guarantee
ARTICLE IX
Miscellaneous
SECTION 9.01. Notices........................................................51
SECTION 9.02. Waivers; Amendments............................................52
SECTION 9.03. Expenses; Indemnity; Damage Waiver.............................52
SECTION 9.04. Successors and Assigns.........................................53
SECTION 9.05. Survival.......................................................55
SECTION 9.06. Counterparts; Integration; Effectiveness.......................56
SECTION 9.07. Severability...................................................56
SECTION 9.08. Right of Setoff................................................56
SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process.....56
SECTION 9.10. WAIVER OF JURY TRIAL...........................................57
SECTION 9.11. Headings.......................................................57
SECTION 9.12. Confidentiality................................................57
SECTION 9.13. Conversion of Currencies.......................................58
SECTION 9.14. Interest Rate Limitation.......................................58
SECTION 9.15. Release of Subsidiary Guarantors...............................58
SCHEDULES:
----------
Schedule 1.01 -- Domestic Material Subsidiaries
Schedule 2.01 -- Commitments
Schedule 3.08 -- Subsidiaries
Schedule 3.14 -- Environmental Matters
EXHIBITS:
--------
Exhibit A-1 -- Form of Borrowing Subsidiary Agreement
Exhibit A-2 -- Form of Borrowing Subsidiary Termination
Exhibit B -- Form of Assignment and Acceptance
Exhibit C -- Form of Opinion of Lindquist & Vennum, PLLP
Exhibit D -- Mandatory Costs Rate
Exhibit E -- Form of Compliance Certificate
Exhibit F -- Form of Guarantee Agreement
Exhibit G -- Form of Indemnity, Subrogation and Contribution Agreement
{PAGE}
364-DAY CREDIT AGREEMENT dated as of
November 17, 2000, among THE VALSPAR CORPORATION, a
Delaware corporation (the "Company"); the BORROWING
SUBSIDIARIES from time to time party hereto; the
LENDERS from time to time party hereto; THE CHASE
MANHATTAN BANK, as Administrative Agent; CHASE
MANHATTAN INTERNATIONAL LIMITED, as London Agent; the
AUSTRALIAN AGENT; and BANK OF AMERICA, N.A., CITICORP
USA, INC. and WACHOVIA BANK, N.A., as Co-Syndication
Agents and Co-Documentation Agents.
The Company has entered into the Acquisition Agreement (such
term and each other capitalized term used and not otherwise defined herein
having the meaning assigned to it in Article I) under which it has agreed to
make the Lilly Acquisition. The Company has requested the Lenders to extend
Commitments under which the Borrowers may obtain revolving loans in an aggregate
principal amount at any time outstanding not greater than US$500,000,000 or the
equivalent thereof in certain other currencies. The proceeds of the Borrowings
hereunder will be used to finance the Lilly Acquisition, to refinance existing
Debt of the Company and the Subsidiaries and to pay related fees and expenses,
as well as for working capital and general corporate purposes, including the
financing of future acquisitions.
The Lenders are willing to establish the credit facilities
referred to in the preceding paragraph upon the terms and subject to the
conditions set forth herein. Accordingly, the parties hereto agree as follows:
ARTICLE I
Definitions
SECTION 1.01. Defined Terms. As used in this Agreement, the
following terms have the meanings specified below:
"ABR", when used in reference to any Loan or Borrowing, refers
to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Alternate Base Rate.
"Acquisition" means any transaction pursuant to which the
Company or any of the Subsidiaries directly or indirectly, in its own name or by
or through a nominee or an agent (a) acquires equity Securities (or warrants,
options or other rights to acquire such Securities) of any Person other than the
Company or a Person which is, prior to such acquisition, a Subsidiary of the
Company, pursuant to a solicitation of tenders therefor, or in one or more
negotiated block, market or other transactions not involving a tender offer, or
a combination of any of the foregoing, or (b) makes any Person a Subsidiary of
the Company, or causes any Person other than a Subsidiary to be merged into the
Company or any of its Subsidiaries, in any case pursuant to a merger, purchase
of assets or any reorganization providing for the delivery or issuance to the
holders of such Person's then outstanding Securities, in exchange for such
Securities, of cash or Securities of the Company or any of its Subsidiaries, or
a combination thereof, or (c) purchases all or substantially all of the business
or assets of any Person or line of business or business unit (or substantially
all of the assets comprising a line of business or business unit) of any Person.
"Acquisition Agreement" means the Agreement and Plan of Merger
dated as of June 23, 2000, among the Company, VAL Acquisition Corp., a Wholly
Owned Subsidiary, and Lilly.
{PAGE}
"Adjusted LIBO Rate" means, with respect to any Eurocurrency
Borrowing for any Interest Period, an interest rate per annum (rounded upwards,
if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such
Interest Period multiplied by (b) the Statutory Reserve Rate.
"Administrative Agent" means The Chase Manhattan Bank, in its
capacity as administrative agent for the Lenders hereunder.
"Administrative Questionnaire" means an Administrative
Questionnaire in a form supplied by the Administrative Agent.
"Affiliate" of any Person means (i) any other Person which
directly, or indirectly through one or more intermediaries, controls such
Person, (ii) any other Person which directly, or indirectly through one or more
intermediaries, is controlled by or is under common control with such Person, or
(iii) any other Person of which such Person owns, directly or indirectly, 20% or
more of the common stock or equivalent equity interests. As used herein, the
term "control" means possession, directly or indirectly, of the power to direct
or cause the direction of the management or policies of a Person, whether
through the ownership of voting securities, by contract or otherwise.
"Agents" means, collectively, the Administrative Agent, the
London Agent and the Australian Agent.
"Agreement Currency" has the meaning assigned to such term in
Section 9.13(b).
"Alternate Base Rate" means, for any day, a rate per annum
equal to the greater of (a) the Prime Rate in effect on such day, (b) the Base
CD Rate plus 1% and (c) the Federal Funds Effective Rate in effect on such day
plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the
Prime Rate, the Base CD Rate or the Federal Funds Effective Rate shall be
effective from and including the effective date of such change in the Prime
Rate, the Base CD Rate or the Federal Funds Effective Rate, respectively.
"Applicable Agent" means (a) with respect to a Loan or
Borrowing denominated in US Dollars, the Administrative Agent, (b) with respect
to a Loan or Borrowing denominated in any Designated Foreign Currency other than
Australian Dollars, the London Agent and (c) with respect to a Loan or Borrowing
denominated in Australian Dollars, the Australian Agent.
"Applicable Creditor" has the meaning assigned to such term in
Section 9.13(b).
"Applicable Percentage" means at any time, with respect to any
Lender, the percentage of the total Commitments represented by such Lender's
Commitment at such time, or if the Commitments have terminated or expired, the
percentage of the total Revolving Exposures and Competitive Loan Exposures
represented by such Lender's Revolving Exposures and Competitive Loan Exposures
at such time; provided that if at the time of determination there are no
Revolving Exposures or Competitive Loan Exposures, the "Applicable Percentage"
shall be the percentage of the total Commitments most recently in effect
represented by such Lender's Commitment most recently in effect.
"Applicable Rate" means, for any day, with respect to any
Eurocurrency Revolving Loan or Bill Rate Loan, or with respect to the facility
fees payable hereunder, as the case may be, the applicable rate per annum set
forth below under the caption "Eurocurrency and Bill Rate Spread" or "Facility
Fee Rate", as the case may be, based upon the ratings by Moody's and S&P,
respectively, applicable on such date to the Index Debt (or, if the Company does
not have Index Debt, then based upon the Company's corporate credit ratings by
Moody's and S&P):
212660
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – the AUSTRALIAN AGENT
BANK OF AMERICA, N.A.,
CITICORP USA, INC.,
WACHOVIA BANK, N.A.,
as Co-Syndication Agents and Co-Documentation Agents
---------------------------
CHASE SECURITIES INC .
as Advisor, Sole Lead Arranger and Sole Book Manager
{PAGE}
TABLE OF CONTENTS
ARTICLE I
Definitions
SECTION 1.01. Defined Terms...................................................1
_____________
dt 212511
;
Citicorp USA
As referenced in this 364-Day Credit Agreement:
CITICORP USA, INC – And
THE CHASE MANHATTAN BANK,
as Administrative Agent
CHASE MANHATTAN INTERNATIONAL LIMITED,
as London Agent
the AUSTRALIAN AGENT
BANK OF AMERICA, N.A.,
CITICORP USA, INC .,
WACHOVIA BANK, N.A.,
as Co-Syndication Agents and Co-Documentation Agents
---------------------------
CHASE SECURITIES INC.
as Advisor, Sole Lead Arranger and Sole
_____________
CITICORP
USA, INC – THE CHASE
MANHATTAN BANK, as Administrative Agent; CHASE
MANHATTAN INTERNATIONAL LIMITED, as London Agent; the
AUSTRALIAN AGENT; and BANK OF AMERICA, N.A., CITICORP
USA, INC . and WACHOVIA BANK, N.A., as Co-Syndication
Agents and Co-Documentation Agents.
The Company has entered into the Acquisition Agreement (such
_____________
Citicorp USA,
Inc – from time to time party thereto, Chase, as administrative agent, Chase Manhattan
International Limited, as London agent, and Bank of America, N.A., Citicorp USA,
Inc . and Wachovia Bank, N.A. as co-syndication agents and co-documentation
agents.
"Fixed Rate" means, with respect to any Competitive Loan
(
_____________
CITICORP USA, INC – Administrative Agent,
by
-------------------------
Name:
Title:
BANK OF AMERICA, N.A., individually and as
Co-Documentation Agent and Co-Syndication
Agent,
by
-------------------------
Name:
Title:
CITICORP USA, INC ., individually and as
Co-Documentation Agent and Co-Syndication
Agent,
by
-------------------------
Name:
Title:
WACHOVIA BANK, N.A., individually and as
Co-Documentation
_____________
dt 165067
;
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – a
Multicurrency Tranche Revolving Loan or an Australian Tranche Revolving Loan.
"S&P" means Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc .
"Security" has the meaning assigned to such term in Section
2(l) of the Securities Act of 1933, as amended.
"Shareholders' Equity"
_____________
dt 311225
;
|
Valspar
As referenced in this 364-Day Credit Agreement:
valspar – EXHIBIT 10(n)
364-DAY
CREDIT AGREEMENT
Dated as of
November 17, 2000
Among
THE VALSPAR CORPORATION
The Borrowing Subsidiaries
Party Hereto
The Lenders Party Hereto
And
THE CHASE MANHATTAN BANK,
valspar – Contribution Agreement
{PAGE}
364-DAY CREDIT AGREEMENT dated as of
November 17, 2000, among THE VALSPAR CORPORATION, a
Delaware corporation (the "Company"); the BORROWING
SUBSIDIARIES from time to time party hereto;
valspar – US Tranche Commitment, a Multicurrency
Tranche Commitment or an Australian Tranche Commitment.
"Company" means The Valspar Corporation, an Delaware
corporation.
"Competitive Bid" means an offer by a Lender to make a
valspar – Agreement
dated as of August 25, 2000 among the Company, Engineered Polymer Solutions,
Inc., The Valspar (UK) Holding Corporation Ltd., The Valspar (Netherland)
Holding Corporation A.G., Forton B.V.
valspar – 2000 among the Company, Engineered Polymer Solutions,
Inc., The Valspar (UK) Holding Corporation Ltd., The Valspar (Netherland)
Holding Corporation A.G., Forton B.V. and Dyflex B.V. and Wachovia
dt 12845
;
BofA
As referenced in this 364-Day Credit Agreement:
BANK OF AMERICA, – MANHATTAN BANK,
as Administrative Agent
CHASE MANHATTAN INTERNATIONAL LIMITED,
as London Agent
the AUSTRALIAN AGENT
BANK OF AMERICA, N.A.,
CITICORP USA, INC.,
WACHOVIA BANK, N.A.,
as Co-Syndication Agents and
BANK OF AMERICA, – BANK, as Administrative Agent; CHASE
MANHATTAN INTERNATIONAL LIMITED, as London Agent; the
AUSTRALIAN AGENT; and BANK OF AMERICA, N.A., CITICORP
USA, INC. and WACHOVIA BANK, N.A., as Co-Syndication
Agents
Bank of America, – time party thereto, Chase, as administrative agent, Chase Manhattan
International Limited, as London agent, and Bank of America, N.A., Citicorp USA,
Inc. and Wachovia Bank, N.A. as co-syndication agents
BANK OF AMERICA, – Name:
Title:
{PAGE}
THE CHASE MANHATTAN BANK, individually and
as Administrative Agent,
by
-------------------------
Name:
Title:
BANK OF AMERICA, N.A., individually and as
Co-Documentation Agent and Co-Syndication
Agent,
by
-------------------------
Name:
dt 40839
;
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| 2000 |
364-Day Credit Agreement
364-Day Credit Agreement (185K)
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RPM, INC.
364-DAY
CREDIT AGREEMENT
Dated as of July 14, 2000
$200,000,000
THE CHASE MANHATTAN BANK
as Administrative Agent
************************************************************
CHASE SECURITIES INC.
Book Manager and Lead Arranger
{PAGE} 2
TABLE OF CONTENTS
----------------------
PAGE
----
SECTION 1. Definitions and Accounting Matters
---------------------------------------------
1.01 Certain Defined Terms..............................................1
1.02 Accounting Terms and Determinations...............................12
1.03 Class and Types of Loans..........................................12
SECTION 2. Commitments
----------------------
2.01 Loans.............................................................13
2.02 Reductions of Commitments.........................................14
2.03 Fees..............................................................15
2.04 Lending Offices...................................................16
2.05 Several Obligations...............................................16
2.06 Notes.............................................................16
2.07 Use of Proceeds...................................................16
SECTION 3. Borrowings, Conversions and Prepayments
--------------------------------------------------
3.01 Borrowings........................................................17
3.02 Prepayments and Conversions.......................................17
3.03 Competitive Bid Procedure.........................................17
SECTION 4. Payments of Principal and Interest
---------------------------------------------
4.01 Repayment of Loans................................................20
4.02 Interest..........................................................20
SECTION 5. Payments; Pro Rata Treatment; Computations; Etc
----------------------------------------------------------
5.01 Payments..........................................................22
5.02 Pro Rata Treatment................................................23
5.03 Computations......................................................23
5.04 Minimum and Maximum Amounts; Types................................23
5.05 Certain Notices...................................................23
5.06 Non-Receipt of Funds by the Administrative Agent..................24
5.07 Sharing of Payments, Etc..........................................25
5.08 Taxes.............................................................25
SECTION 6. Yield Protection and Illegality
------------------------------------------
6.01 Additional Costs..................................................28
6.02 Limitation on Types of Loans......................................29
6.03 Illegality........................................................30
6.04 Substitute Base Rate Loans........................................30
{PAGE} 3
PAGE
----
6.05 Compensation......................................................31
6.06 Capital Adequacy..................................................31
6.07 Substitution of Lender............................................32
SECTION 7. Conditions Precedent
-------------------------------
7.01 Initial Loans.....................................................32
7.02 Initial and Subsequent Loans......................................33
SECTION 8. Representations and Warranties
-----------------------------------------
8.01 Corporate Existence...............................................34
8.02 Information.......................................................34
8.03 Litigation........................................................35
8.04 No Breach.........................................................35
8.05 Corporate Action..................................................36
8.06 Approvals.........................................................36
8.07 Regulations U and X...............................................36
8.08 ERISA.............................................................36
8.09 Taxes.............................................................37
8.10 Subsidiaries......................................................37
8.11 Investment Company Act............................................37
8.12 Public Utility Holding Company Act................................37
8.13 Ownership and Use of Properties...................................37
8.14 Environmental Matters.............................................37
SECTION 9. Covenants
--------------------
9.01 Information.......................................................38
9.02 Taxes and Claims..................................................40
9.03 Insurance.........................................................40
9.04 Maintenance of Existence; Conduct of Business.....................40
9.05 Maintenance of and Access to Properties...........................40
9.06 Compliance with Applicable Laws...................................41
9.07 Litigation........................................................41
9.08 Leverage Ratio....................................................41
9.09 Interest Coverage Ratio...........................................41
9.10 Mergers, Asset Dispositions, Etc..................................41
9.11 Liens.............................................................41
9.12 Investments.......................................................42
9.13 Transactions with Affiliates......................................43
9.14 Lines of Business.................................................43
9.15 Environmental Matters.............................................43
9.16 Lease Payments....................................................44
ii
{PAGE} 4
PAGE
----
SECTION 10. Defaults
--------------------
10.01 Events of Default.................................................44
SECTION 11. The Administrative Agent
------------------------------------
11.01 Appointment, Powers and Immunities................................47
11.02 Reliance by Administrative Agent..................................48
11.03 Defaults..........................................................48
11.04 Rights as a Lender................................................48
11.05 Indemnification...................................................49
11.06 Non-Reliance on Administrative Agent and Other Lenders............49
11.07 Failure to Act....................................................49
11.08 Resignation or Removal of Administrative Agent....................50
SECTION 12. Miscellaneous
-------------------------
12.01 Waiver............................................................50
12.02 Notices...........................................................51
12.03 Expenses, Etc.....................................................51
12.04 Indemnification...................................................51
12.05 Amendments, Etc...................................................51
12.06 Successors and Assigns............................................52
12.07 Confidentiality...................................................53
12.08 Survival..........................................................54
12.09 Captions..........................................................54
12.10 Counterparts; Integration.........................................54
12.11 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF
JURY TRIAL........................................................54
12.12 Waiver and Termination of Existing Credit Agreements..............55
iii
{PAGE} 5
SCHEDULES
---------
SCHEDULE I - Subsidiaries and Joint Ventures
EXHIBITS
--------
EXHIBIT A - Form of Note
EXHIBIT B-1 - Form of Opinion of Counsel to
the Company
EXHIBIT B-2 - Form of Opinion of General Counsel
of the Company
EXHIBIT C - Form of Opinion of Special Counsel to
the Administrative Agent
iv
{PAGE} 6
CREDIT AGREEMENT
AGREEMENT dated as of July 14, 2000 among: RPM, INC., a corporation
duly organized and validly existing under the laws of the State of Ohio
(together with its successors, the "COMPANY"); each of the lenders which is or
which may from time to time become a signatory hereto (individually, together
with its successors, a "LENDER" and, collectively, together with their
respective successors, the "LENDERS"); and THE CHASE MANHATTAN BANK, as
administrative agent for the Lenders (in such capacity, together with its
successors in such capacity, the "ADMINISTRATIVE AGENT").
The parties hereto agree as follows:
SECTION 1. Definitions and Accounting Matters.
1.01 Certain Defined Terms. As used herein, the following terms shall
have the following meanings (all terms defined in this Section 1.01 or in other
provisions of this Agreement in the singular to have the same meanings when used
in the plural and vice versa):
"ABSOLUTE RATE" shall mean, with respect to any Competitive Loan (other
than a Eurodollar Competitive Loan), the fixed rate of interest per annum
specified by the Lender making such Competitive Loan in its related Competitive
Bid.
"ACCEPTABLE INSURER" means an insurance company (i) having an A.M. Best
rating of "A-" or better and being in a financial size category of X or larger
(as such category is defined as of the date hereof) or (ii) otherwise acceptable
to the Majority Lenders. First Colonial Insurance Company, a wholly-owned
Subsidiary of the Company, is deemed to be acceptable with respect to the dollar
amount of insurance it is providing on the date of this Agreement.
"AFFILIATE" shall mean, as to any Person, any other Person which
directly or indirectly controls, or is under common control with, or is
controlled by, such Person and, if such Person is an individual, any member of
the immediate family (including parents, siblings, spouse, children,
stepchildren, nephews, nieces and grandchildren) of such individual and any
trust whose principal beneficiary is such individual or one or more members of
such immediate family and any Person who is controlled by any such member or
trust. As used in this definition, "CONTROL" (including, with correlative
meanings, "CONTROLLED BY" and "UNDER COMMON CONTROL WITH") shall mean
possession, directly or indirectly, of power to direct or cause the direction of
management or policies (whether through ownership of securities or partnership
or other ownership interests, by contract or
{PAGE} 7
otherwise), provided that, in any event, any Person which owns directly or
indirectly more than 5% of the securities having ordinary voting power for the
election of directors or other governing body of a corporation or more than 5%
of the partnership or other ownership interests of any other Person (other than
as a limited partner of such other Person) will be deemed to control such
corporation or other Person.
"APPLICABLE LENDING OFFICE" shall mean, for each Lender and for each
Type of Loan, the Lending Office of such Lender (or of an affiliate of such
Lender) specified by such Lender from time to time to the Administrative Agent
and the Company as the office by which its Loans of such Type are to be made
and/or issued and maintained.
"BANKRUPTCY CODE" shall mean the United States Bankruptcy Code, as now
or hereafter in effect, or any successor statute.
"BASE RATE" shall mean, with respect to any Base Rate Loan for any day,
the rate per annum equal to the higher as of such day of (i) the Federal Funds
Rate plus 1/2 of 1% or (ii) the Prime Rate.
"BASE RATE LOANS" shall mean Loans which bear interest at a rate based
upon the Base Rate.
"BASIC DOCUMENTS" shall mean this Agreement and the Notes.
"BUSINESS DAY" shall mean any day other than a day on which commercial
banks are authorized or required to close in New York City and, where such term
is used in the definition of "Quarterly Date" in this Section 1.01 or if such
214394
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – COPY
************************************************************
RPM, INC.
364-DAY
CREDIT AGREEMENT
Dated as of July 14, 2000
$200,000,000
THE CHASE MANHATTAN BANK
as Administrative Agent
************************************************************
CHASE SECURITIES INC .
Book Manager and Lead Arranger
{PAGE} 2
TABLE OF CONTENTS
----------------------
PAGE
----
SECTION 1. Definitions and Accounting Matters
---------------------------------------------
1.01 Certain Defined Terms..............................................
_____________
dt 212519
;
BofA
As referenced in this 364-Day Credit Agreement:
BANK OF AMERICA, – Cleveland, OH 44114
Attention: Revette Vickerstaff
Telecopy Number: 216-488-7110
58
{PAGE} 64
Commitment: BANK OF AMERICA, N.A.
$18,571,428.57
By /s/ Richard G. Parkhurst, Jr.
------------------------------
Title: Managing
dt 40883
;
BNY
As referenced in this 364-Day Credit Agreement:
Bank of New York – System arranged by Federal funds brokers on such
day, as published by the Federal Reserve Bank of New York on the Business Day
next succeeding such day, provided that (a) if such day is
BANK OF NEW YORK
– D. Barrett
Senior Vice President
Telecopy Number: 216-623-9208
67
{PAGE} 73
Commitment: THE BANK OF NEW YORK
$5,714,285.71
By /s/ Walter C. Parelli
---------------------------------
Title: Vice President
Address for
Bank of New York
– 714,285.71
By /s/ Walter C. Parelli
---------------------------------
Title: Vice President
Address for Notices:
The Bank of New York
One Wall Street, 21 Fl.
New York, NY 10286
Attention: Kenneth R. McDonnell
Telecopy
dt 43144
;
|
Chase Manhattan
As referenced in this 364-Day Credit Agreement:
CHASE MANHATTAN BANK
– PAGE} 1
Exhibit 10.15
CONFORMED COPY
************************************************************
RPM, INC.
364-DAY
CREDIT AGREEMENT
Dated as of July 14, 2000
$200,000,000
THE CHASE MANHATTAN BANK
as Administrative Agent
************************************************************
CHASE SECURITIES INC.
Book Manager and Lead Arranger
{PAGE} 2
TABLE OF CONTENTS
----------------------
PAGE
----
SECTION 1. Definitions and Accounting
_____________
CHASE MANHATTAN BANK, – time become a signatory hereto (individually, together
with its successors, a "LENDER" and, collectively, together with their
respective successors, the "LENDERS"); and THE CHASE MANHATTAN BANK, as
administrative agent for the Lenders (in such capacity, together with its
successors in such capacity, the "ADMINISTRATIVE AGENT").
The parties hereto
_____________
Chase Manhattan Bank – Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended from time to time, and
regulations promulgated thereunder.
"CHASE" shall mean The Chase Manhattan Bank and its successors.
"CLASS" shall have the meaning assigned to such term in Section 1.03
hereof.
"CLOSING DATE" shall mean the date
_____________
CHASE MANHATTAN BANK
– 777
Medina, Ohio 44258
Attention: Chief Financial Officer
Telephone Number: 330-273-8833
Telecopy Number: 330-225-6574
55
{PAGE} 61
Commitment: THE CHASE MANHATTAN BANK
$23,714,285.71
By /s/ Peter A. Dedousis
---------------------------------
Title: Managing Director
Address for Notices:
The Chase Manhattan Bank
270 Park Avenue,
_____________
Chase Manhattan Bank
– PAGE} 61
Commitment: THE CHASE MANHATTAN BANK
$23,714,285.71
By /s/ Peter A. Dedousis
---------------------------------
Title: Managing Director
Address for Notices:
The Chase Manhattan Bank
270 Park Avenue, 38th Floor
New York, New York 10017
Attention: Stacey Haimes
Telecopy Number: (212) 270-1355
56
{PAGE} 62
Commitment:
_____________
dt 102152
;
First Union
As referenced in this 364-Day Credit Agreement:
FIRST UNION NATIONAL BANK
– Wachovia Bank, N.A.
191 Peachtree Street, NE
Atlanta, GA 30303
Attention: Yvette Epps
Telecopy Number: 404-332-4320
61
{PAGE} 67
Commitment: FIRST UNION NATIONAL BANK
$12,857,142.86
By /s/ Bjarne W. Howatt
---------------------------------
Title: Vice President
Address for Notices:
201 South College Street
Charlotte Plaza 6th
_____________
dt 184369
;
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364-Day Credit Agreement (195K)
Doc #215216: Click preview link for longer preview.
364-DAY
CREDIT AGREEMENT
among
THE BOEING COMPANY
for itself and on behalf of its Subsidiaries,
as a Borrower
THE LENDERS PARTY HERETO
CITIBANK, N.A.,
as Administrative Agent
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC.,
as Joint Lead Arrangers and Joint Book Managers
dated as of September 27, 2000
Page 1
{PAGE}
TABLE OF CONTENTS
Article and Section Page
{TABLE}
{CAPTION}
{S} {C} {C}
ARTICLE 1 DEFINITIONS
1.1 Definitions..........................................................1
1.2 Use of Defined Terms; References....................................18
1.3 Accounting Terms....................................................19
ARTICLE 2 AMOUNTS AND TERMS OF THE ADVANCES
2.1 Committed Advances..................................................19
2.2 Making Committed Advances...........................................19
2.3 Conversion to Term Loans, Repayment.................................22
2.4 Interest Rate on Committed Advances.................................22
2.5 Bid Advances........................................................23
2.6 Lender Assignment or Sale...........................................29
2.7 Fees................................................................30
2.8 Reduction of the Commitments........................................30
2.9 Additional Interest on Eurodollar Rate Committed Advances...........31
2.10 Eurodollar Interest Rate Determination..............................31
2.11 Voluntary Conversion of Committed Advances..........................33
2.12 Prepayments.........................................................33
2.13 Increases in Costs..................................................35
2.14 Taxes...............................................................37
2.15 Illegality..........................................................41
Page 2
{PAGE}
2.16 Payments and Computations...........................................41
2.17 Sharing of Payments, Etc. ..........................................43
2.18 Evidence of Debt....................................................44
2.19 Alteration of Commitments and Addition of Lenders...................45
2.20 Assignments; Sales of Participations and Other Interests in
Advances...........................................................47
2.21 Extension of Termination Date.......................................52
2.22 Subsidiary Borrowers................................................54
ARTICLE 3 REPRESENTATIONS AND WARRANTIES
3.1 Representations and Warranties by the Borrowers.....................56
ARTICLE 4 COVENANTS OF TBC
4.1 Affirmative Covenants of TBC........................................59
4.2 General Negative Covenants of TBC...................................60
4.3 Financial Statement Terms...........................................63
4.4 Waivers of Covenants................................................63
ARTICLE 5 CONDITIONS PRECEDENT TO BORROWINGS
5.1 Conditions Precedent to the Initial Borrowing of TBC................64
5.2 Conditions Precedent to Each Committed Borrowing of TBC.............64
5.3 Conditions Precedent to Each Bid Borrowing of TBC...................65
5.4 Conditions Precedent to the Initial Borrowing of a Subsidiary
Borrower...........................................................66
5.5 Conditions Precedent to Each Committed Borrowing of a Subsidiary
Borrower...........................................................67
5.6 Conditions Precedent to Each Bid Borrowing of a Subsidiary
Borrower...........................................................67
ARTICLE 6 EVENTS OF DEFAULT
6.1 Events of Default...................................................69
Page 3
{PAGE}
6.2 Lenders' Rights upon Borrower Default...............................70
ARTICLE 7 THE AGENT
7.1 Authorization and Action............................................71
7.2 Agent's Reliance, Etc. .............................................72
7.3 Citibank, N.A. and its Affiliates...................................72
7.4 Lender Credit Decision..............................................73
7.5 Indemnification.....................................................73
7.6 Successor Agent.....................................................74
7.7 Certain Obligations May Be Performed by Affiliates..................75
ARTICLE 8 MISCELLANEOUS
8.1 Modification, Consents and Waivers..................................75
8.2 Notices.............................................................76
8.3 Costs, Expenses and Taxes...........................................77
8.4 Binding Effect......................................................79
8.5 Severability........................................................79
8.6 Governing Law.......................................................79
8.7 Headings............................................................79
8.8 Execution in Counterparts...........................................79
8.9 Right of Set-Off....................................................79
8.10 Confidentiality.....................................................80
8.11 Agreement in Effect.................................................80
{/TABLE}
Exhibit A-1 - Committed Note
Exhibit A-2 - Bid Note
Exhibit B-1 - Notice of Committed Borrowing
Exhibit B-2 - Notice of Bid Borrowing
Exhibit C - Request for Alteration
Exhibit D - Borrower Subsidiary Letter
Exhibit E - Extension Request
Page 4
{PAGE}
Exhibit F - Continuation Notice
Exhibit G - Opinion of Counsel of the Company
Exhibit H - Opinion of Counsel for Agent
Exhibit I - Opinion of in-house counsel to Subsidiary Borrower
Exhibit J - Guaranty of TBC
Exhibit K - Opinion of Counsel to TBC
Schedule I - Commitments
Page 5
{PAGE}
CREDIT AGREEMENT
Dated as of September 27, 2000
THE BOEING COMPANY, a Delaware corporation ("TBC" or the "Company"), for itself
and on behalf of the other BORROWERS (as defined below), the LENDERS (as defined
below), SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC., as joint lead
arrangers and joint book managers, THE CHASE MANHATTAN BANK, as syndication
agent, and CITIBANK, N.A., in its capacity as administrative agent for the
Lenders (in such capacity, the "Agent"), agree as follows:
ARTICLE 1
Definitions
1.1 Definitions. As used in this Agreement, the following terms have the
respective meanings set out below:
"1999 Credit Agreement" means the Bank Credit Agreement, dated as of September
29, 1999, by and among TBC, Citibank, N.A., as administrative agent, and
certain other banks as lenders.
"Advance" means a Committed Advance or a Bid Advance.
"Agent" means Citibank, N.A. acting in its capacity as administrative agent for
the Lenders, or any successor administrative agent appointed pursuant to
Section 7.6.
"Agent's Account" means the account of the Agent maintained by the Agent with
Citibank, N.A., at its office at 399 Park Avenue, New York, New York
10043, Account 36852248, Attention: Mr. Drew Tuminello.
"Affiliate" means, as to any Person, any other Person that, directly or
indirectly, controls, is controlled by or is under common control with
such Person or is a director or officer of such Person. (For purposes of
this definition, the term "controls", "controlling", "controlled by" and
"under common control with" mean, with respect to a Person, the
possession, direct or indirect, of the power to vote 5% or more of the
Voting Stock of such Person or to direct or cause the direction of the
management and policies of such Person, whether through the ownership of
Voting Stock, by contract, or otherwise.)
"Agreement" means this agreement, as it may be amended or otherwise modified
from time to time, and any written additions or supplements hereto.
"Applicable Lending Office" means, with respect to each Lender, such Lender's
Domestic Lending Office, in the case of a Base Rate Advance, and such
Lender's Eurodollar Lending Office, in the case of a Eurodollar Rate
Advance, and, in the case of a Bid Advance, the office of such Lender
specified by such Lender in a notice to the Agent as its Applicable
Lending Office with respect to such Bid Advance.
"Applicable Margin" means,
(i) with respect to Base Rate Advances, 0% per annum; and
Page 6
{PAGE}
(ii) with respect to Eurodollar Rate Advances for any date prior to the
Termination Date, 0.11% per annum; and
(iii) with respect to Eurodollar Rate Advances for any date after the
Termination Date, a fluctuating per annum rate equal to the then-
applicable rate set forth in the pricing grid below, depending upon
the rating of the long-term senior unsecured debt of TBC then in
effect:
{TABLE}
{CAPTION}
-------------------------------------------------------------------------------
| Level | Public Debt Rating: S&P and Moody's | Applicable Margin |
|-----------------------------------------------------------------------------|
{S} {C} {C}
| Level I | A by S&P or A2 by Moody's or above | 0.15% |
|-----------------------------------------------------------------------------|
| Level II | less than Level I | |
| | but at least A- by S&P or A3 by Moody's | 0.20% |
|-----------------------------------------------------------------------------|
| Level III | less than Level II |
| | but at least BBB+ by S&P or Baa1 by Moody's | 0.25% |
|-----------------------------------------------------------------------------|
| Level IV | less than Level III | 0.375% |
-------------------------------------------------------------------------------
{/TABLE}
provided, however, that if the ratings from S&P and Moody's fall within
different levels, then the Applicable Margin shall be based on the higher
of the two ratings except that, if the lower of such ratings is more than
one level below the higher of such ratings, the Applicable Margin shall be
determined based on the level above the lower of such ratings, and
215216
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES, INC – THE LENDERS PARTY HERETO
CITIBANK, N.A.,
as Administrative Agent
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC .,
as Joint Lead Arrangers and Joint Book Managers
dated as of September 27, 2000
Page 1
{PAGE}
TABLE OF CONTENTS
Article and
_____________
CHASE SECURITIES INC – Company"), for itself
and on behalf of the other BORROWERS (as defined below), the LENDERS (as defined
below), SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC ., as joint lead
arrangers and joint book managers, THE CHASE MANHATTAN BANK, as syndication
agent, and CITIBANK, N.A., in its capacity
_____________
dt 212526
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK, – N.A.
By /s/ Douglas S. King
-----------------------------------
Name: Douglas S. King
Title: Vice President
Lender
ABN AMRO BANK, N.V.
By /s/ SHIKHA REHMAN
-----------------------------------
Name: SHIKHA REHMAN
Title: VICE PRESIDENT
By /s/
ABN Amro Bank, – Name of Initial | Commitment | Domestic Lending | Eurodollar Lending |
| Lender | | Office | Office |
------------------------------------------------------------------------------
{S} {C} {C} {C}
| ABN Amro Bank, N.V. |$23,800,000 | 208 South LaSalle | 208 South LaSalle |
| | | Suite 1500 | Suite
dt 45398
;
|
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – 364-DAY
CREDIT AGREEMENT
among
THE BOEING COMPANY
for itself and on behalf of its Subsidiaries,
as a Borrower
THE LENDERS PARTY HERETO
CITIBANK, N.A. ,
as Administrative Agent
THE CHASE MANHATTAN BANK,
as Syndication Agent
and
SALOMON SMITH BARNEY INC.
and
CHASE SECURITIES, INC.,
as Joint Lead
_____________
Citibank, N.A. – upon Borrower Default...............................70
ARTICLE 7 THE AGENT
7.1 Authorization and Action............................................71
7.2 Agent's Reliance, Etc. .............................................72
7.3 Citibank, N.A. and its Affiliates...................................72
7.4 Lender Credit Decision..............................................73
7.5 Indemnification.....................................................73
7.6 Successor Agent.....................................................74
7.7 Certain
_____________
CITIBANK, N.A. – SMITH BARNEY INC. and CHASE SECURITIES INC., as joint lead
arrangers and joint book managers, THE CHASE MANHATTAN BANK, as syndication
agent, and CITIBANK, N.A. , in its capacity as administrative agent for the
Lenders (in such capacity, the "Agent"), agree as follows:
ARTICLE 1
Definitions
1.1
_____________
Citibank, N.A. – respective meanings set out below:
"1999 Credit Agreement" means the Bank Credit Agreement, dated as of September
29, 1999, by and among TBC, Citibank, N.A. , as administrative agent, and
certain other banks as lenders.
"Advance" means a Committed Advance or a Bid Advance.
"Agent" means Citibank, N.
_____________
Citibank, N.A. – Citibank, N.A., as administrative agent, and
certain other banks as lenders.
"Advance" means a Committed Advance or a Bid Advance.
"Agent" means Citibank, N.A. acting in its capacity as administrative agent for
the Lenders, or any successor administrative agent appointed pursuant to
Section 7.6.
"Agent'
_____________
dt 146406
;
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – 2.19.
"Required Assignment" has the meaning specified in Section 2.20(a).
"S&P" means Standard & Poor's, a division of The McGraw-Hill Companies, Inc .
"Subsidiary" means any corporation in which more than 50% of the Voting Stock is
owned by TBC, by TBC and any one
_____________
dt 311248
;
More... |
Preview
Full Doc
| 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (452K)
Doc #218471: Click preview link for longer preview.
$500,000,000
364-DAY CREDIT AGREEMENT
dated as of
July 12, 2000
among
Praxair, Inc.,
The Banks Party Hereto
Morgan Guaranty Trust Company of New York
Bank of America, N.A.
and
Credit Suisse First Boston,
as Co-Syndication Agents
and
The Chase Manhattan Bank,
as Administrative Agent
-------------------------------------------
J.P. Morgan Securities Inc.,
Lead Arranger and Book Manager
--------------
Banc of America Securities LLC
Chase Securities Inc.
Credit Suisse First Boston,
Co-Arrangers and Co-Book Managers
i
{PAGE}
{TABLE}
{CAPTION}
{S} {C} {C}
TABLE OF CONTENTS
----------------------
PAGE
ARTICLE 1
DEFINITIONS
SECTION 1.01. Definitions......................................................................1
SECTION 1.02. Accounting Terms and Determinations.............................................14
SECTION 1.03. Types of Borrowings.............................................................14
ARTICLE 2
THE CREDITS
SECTION 2.01. Commitments to Lend.............................................................15
SECTION 2.02. Notice of Committed Borrowings..................................................16
SECTION 2.03. Money Market Borrowings.........................................................16
SECTION 2.04. Notice to Banks; Funding of Loans...............................................21
SECTION 2.05. Notes...........................................................................22
SECTION 2.06. Maturity of Loans...............................................................23
SECTION 2.07. Interest Rates..................................................................23
SECTION 2.08. Facility Fee....................................................................26
SECTION 2.09. Optional Termination or Reduction of Commitments................................27
SECTION 2.10. Optional Prepayments............................................................27
SECTION 2.11. General Provisions as to Payments...............................................28
SECTION 2.12. Funding Losses..................................................................29
SECTION 2.13. Computation of Interest and Fees................................................29
SECTION 2.14. Method of Electing Interest Rates...............................................29
SECTION 2.15. Withholding Tax Exemption.......................................................31
SECTION 2.16. Regulation D Compensation.......................................................32
SECTION 2.17. Replacement of this Agreement...................................................33
SECTION 2.18. Optional Increase in Commitments................................................33
ARTICLE 3
CONDITIONS
SECTION 3.01. Effectiveness...................................................................34
SECTION 3.02. Borrowings......................................................................36
i
{PAGE}
PAGE
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
SECTION 4.01. Corporate Existence and Power...................................................37
SECTION 4.02. Corporate and Governmental Authorization; No
Contravention.........................................................................37
SECTION 4.03. Binding Effect..................................................................37
SECTION 4.04. Financial Information...........................................................38
SECTION 4.05. Litigation......................................................................38
SECTION 4.06. Compliance with ERISA...........................................................38
SECTION 4.07. Environmental Matters...........................................................39
SECTION 4.08. Subsidiaries....................................................................39
SECTION 4.09. Not an Investment Company.......................................................39
SECTION 4.10. Disclosure......................................................................39
ARTICLE 5
COVENANTS
SECTION 5.01. Information.....................................................................40
SECTION 5.02. Maintenance of Property; Insurance..............................................43
SECTION 5.03. Negative Pledge.................................................................43
SECTION 5.04. Consolidations, Mergers and Sales of Assets.....................................44
SECTION 5.05. Minimum Consolidated Book Net Worth.............................................45
SECTION 5.06. Leverage Ratio..................................................................45
SECTION 5.07. Use of Proceeds.................................................................45
ARTICLE 6
DEFAULTS
SECTION 6.01. Events of Default...............................................................46
SECTION 6.02. Notice of Default...............................................................49
ARTICLE 7
AGENTS
SECTION 7.01. Appointment and Authorization...................................................49
SECTION 7.02. Agents and Affiliates...........................................................49
SECTION 7.03. Action by Administrative Agent..................................................49
SECTION 7.04. Consultation with Experts.......................................................50
SECTION 7.05. Liability of Administrative Agent...............................................50
SECTION 7.06. Indemnification.................................................................50
ii
{PAGE}
PAGE
SECTION 7.07. Credit Decision.................................................................50
SECTION 7.08. Successor Administrative Agent..................................................51
ARTICLE 8
CHANGE IN CIRCUMSTANCES
SECTION 8.01. Basis for Determining Interest Rate Inadequate or Unfair........................51
SECTION 8.02. Illegality......................................................................52
SECTION 8.03. Increased Cost and Reduced Return...............................................53
SECTION 8.04. Base Rate Loans Substituted for Affected Fixed Rate Loans.......................55
ARTICLE 9
MISCELLANEOUS
SECTION 9.01. Notices.........................................................................56
SECTION 9.02. No Waivers......................................................................56
SECTION 9.03. Expenses; Documentary Taxes; Indemnification....................................56
SECTION 9.04. Sharing of Set-offs.............................................................57
SECTION 9.05. Amendments and Waivers..........................................................58
SECTION 9.06. Successors and Assigns..........................................................59
SECTION 9.07. Designated Lenders..............................................................61
SECTION 9.08. Governing Law; Submission to Jurisdiction; Waiver of
Jury Trial............................................................................62
SECTION 9.09. Counterparts; Integration.......................................................62
SECTION 9.10. Confidentiality.................................................................63
SECTION 9.11. Severability....................................................................64
SECTION 9.12. Termination of Existing Credit Agreement........................................64
SECTION 9.13. Collateral......................................................................64
{/TABLE}
iii
{PAGE}
Exhibits
Exhibit A -- Note
Exhibit B -- Form of Money Market Quote Request
Exhibit C -- Form of Invitation for Money Market Quotes
Exhibit D -- Form of Money Market Quote
Exhibit E -- Form of Opinion of Cahill Gordon & Reindel, Special
Counsel for the Borrower
Exhibit F -- Opinion of Davis Polk & Wardwell, Special Counsel for
the Agents
Exhibit G -- Assignment and Assumption Agreement
Exhibit H -- Designation Agreement
Exhibit I -- Extension Agreement
iv
{PAGE}
CREDIT AGREEMENT
AGREEMENT dated as of July 12, 2000 among PRAXAIR, INC., the BANKS
party hereto, MORGAN GUARANTY TRUST COMPANY OF NEW YORK, BANK OF AMERICA, N.A.
and CREDIT SUISSE FIRST BOSTON, as Co-Syndication Agents, and THE CHASE
MANHATTAN BANK, as Administrative Agent.
The parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
SECTION 1.01. Definitions. The following terms, as used herein, have
the following meanings:
"Absolute Rate Auction" means a solicitation of Money Market Quotes
setting forth Money Market Absolute Rates pursuant to Section 2.03.
"Adjusted CD Rate" has the meaning set forth in Section 2.07(b).
"Administrative Agent" means The Chase Manhattan Bank, in its capacity
as administrative agent for the Banks hereunder, and its successors in such
capacity.
"Administrative Questionnaire" means, with respect to each Bank, an
administrative questionnaire in the form prepared by the Administrative Agent
and submitted to the Administrative Agent (which shall promptly following
receipt thereof give a copy to the Borrower) duly completed by such Bank.
"Agents" means the Administrative Agent and the Co-Syndication Agents.
"Applicable Lending Office" means, with respect to any Bank,
(i) in the case of its Domestic Loans, its Domestic Lending
Office,
(ii) in the case of its Euro-Dollar Loans, its Euro-Dollar
Lending Office and
1
{PAGE}
(iii) in the case of its Money Market Loans, its Money Market
Lending Office.
"Assessment Rate" has the meaning set forth in Section 2.07(b).
"Assignee" has the meaning set forth in Section 9.06(c).
"Bank" means each bank listed on the signature pages hereof, each
Person which becomes a Bank pursuant to Section 2.18 and each Assignee which
becomes a Bank pursuant to Section 9.06(c), and their respective successors.
"Bank Parties" has the meaning set forth in Section 9.10.
"Base Rate" means, for any day, a rate per annum equal to the higher of
the Reference Rate for such day or the sum of 1/2 of 1% plus the Effective
Federal Funds Rate for such day.
"Base Rate Loan" means a Committed Loan that bears interest at the Base
Rate pursuant to the applicable Notice of Committed Borrowing or Notice of
Interest Rate Election or the last sentence of Section 2.14(a) or Article 8.
"Benefit Arrangement" means at any time an employee benefit plan within
the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan
and which is maintained or otherwise contributed to by any member of the ERISA
Group.
"Borrower" means Praxair, Inc., a Delaware corporation, and its
successors.
"Borrowing" has the meaning set forth in Section 1.03.
"CD Base Rate" has the meaning set forth in Section 2.07(b).
"CD Loan" means a Committed Loan that bears interest at a CD Rate
pursuant to the applicable Notice of Committed Borrowing or Notice of Interest
Rate Election.
"CD Margin" has the meaning set forth in Section 2.07(b).
"CD Rate" means a rate of interest determined pursuant to Section
2.07(b) on the basis of an Adjusted CD Rate.
218471
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – and
The Chase Manhattan Bank,
as Administrative Agent
-------------------------------------------
J.P. Morgan Securities Inc.,
Lead Arranger and Book Manager
--------------
Banc of America Securities LLC
Chase Securities Inc .
Credit Suisse First Boston,
Co-Arrangers and Co-Book Managers
i
{PAGE}
{TABLE}
{CAPTION}
{S} {C} {C}
TABLE OF CONTENTS
----------------------
PAGE
ARTICLE
_____________
Chase Securities Inc – and
The Chase Manhattan Bank,
as Administrative Agent
-------------------------------------------
J.P. Morgan Securities Inc.,
Lead Arranger and Book Manager
--------------
Banc of America Securities LLC
Chase Securities Inc .
Credit Suisse First Boston,
Co-Arrangers and Co-Book Managers
i
{PAGE}
{TABLE}
{CAPTION}
TABLE OF CONTENTS
----------------------
PAGE
ARTICLE 1
DEFINITIONS
{S} {
_____________
dt 212529
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN-AMRO BANK NV – Vice President
By: /s/ Vitaly G. Butenko
------------------------------------------------
Title: Assistant Vice President
$29,166,666.67 THE CHASE MANHATTAN BANK
By: /s/ Stacey L. Haimes
------------------------------------------------
Title: Vice President
$20,000,000 ABN-AMRO BANK NV
By: /s/ David Mandell
------------------------------------------------
Title: Senior Vice President
By: /s/ Patricia Christy
------------------------------------------------
Title: Assistant Vice President
65
{PAGE}
$20,000,000 BANK OF TOKYO-MITSUBISHI TRUST
COMPANY
By: /s/
_____________
ABN-AMRO BANK NV – Vice President
By: /s/ Vitaly G. Butenko
----------------------------------------------
Title: Assistant Vice President
$58,333,333.33 THE CHASE MANHATTAN BANK
By: /s/ Stacey L. Haimes
----------------------------------------------
Title: Vice President
$40,000,000 ABN-AMRO BANK NV
By: /s/ David Mandell
----------------------------------------------
Title: Senior Vice President
By: /s/ Patricia Christy
---------------------------------
Title: Assistant Vice President
64
{PAGE}
$40,000,000 BANK OF TOKYO-MITSUBISHI TRUST
COMPANY
By: /s/
_____________
dt 1470719
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – HYPO-UND VEREINSBANK
AG, NEW YORK BRANCH
By: /s/ Steven Atwell
------------------------------------------------
Title: Director
By: /s/ Alexander M. Blodi
------------------------------------------------
Title: Director
$20,000,000 CITIBANK, N.A.
By: /s/ James N. Simpson
------------------------------------------------
Title: Managing Director
$20,000,000 COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Robert
_____________
CITIBANK, N.A. – HYPO-UND VEREINSBANK
AG, NEW YORK BRANCH
By: /s/ Steven Atwell
---------------------------------------------
Title: Director
By: /s/ Alexander M. Blodi
---------------------------------------------
Title: Director
$40,000,000 CITIBANK, N.A.
By: /s/ James N. Simpson
---------------------------------------------
Title: Managing Director
$40,000,000 COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Robert
_____________
dt 146425
;
|
Praxair
As referenced in this 364-Day Credit Agreement:
praxair, – COPY
$500,000,000
364-DAY CREDIT AGREEMENT
dated as of
July 12, 2000
among
Praxair, Inc.,
The Banks Party Hereto
Morgan Guaranty Trust Company of New York
Bank of
praxair, – I -- Extension Agreement
iv
{PAGE}
CREDIT AGREEMENT
AGREEMENT dated as of July 12, 2000 among PRAXAIR, INC., the BANKS
party hereto, MORGAN GUARANTY TRUST COMPANY OF NEW YORK, BANK OF
praxair, – is maintained or otherwise contributed to by any member of the ERISA
Group.
"Borrower" means Praxair, Inc., a Delaware corporation, and its
successors.
"Borrowing" has the meaning set forth in
praxair – outstanding Loans.
"Restricted Subsidiary" means
(i) any Domestic Consolidated Subsidiary of the Borrower, and
(ii) Praxair Canada Inc.
"Revolving Credit Loan" means a loan made or to be made by a
.praxair. – such information
has been posted on the Borrower's website on the Internet at www.praxair. com, at
sec.gov/edaux/searches.htm or at another website identified in such notice
dt 17008
;
BofA Securities
As referenced in this 364-Day Credit Agreement:
Banc of America Securities – Boston,
as Co-Syndication Agents
and
The Chase Manhattan Bank,
as Administrative Agent
-------------------------------------------
J.P. Morgan Securities Inc.,
Lead Arranger and Book Manager
--------------
Banc of America Securities LLC
Chase Securities Inc.
Credit Suisse First Boston,
Co-Arrangers and Co-Book Managers
i
{PAGE}
{TABLE}
{CAPTION}
{S} {C} {C}
TABLE OF
_____________
Banc of America Securities – Boston,
as Co-Syndication Agents
and
The Chase Manhattan Bank,
as Administrative Agent
-------------------------------------------
J.P. Morgan Securities Inc.,
Lead Arranger and Book Manager
--------------
Banc of America Securities LLC
Chase Securities Inc.
Credit Suisse First Boston,
Co-Arrangers and Co-Book Managers
i
{PAGE}
{TABLE}
{CAPTION}
TABLE OF CONTENTS
----------------------
PAGE
ARTICLE
_____________
dt 93996
;
More... |
Preview
Full Doc
| 2000 |
364-Day Credit Agreement
364-Day Credit Agreement (269K)
Doc #222667: Click preview link for longer preview.
U.S. $1,000,000,000
364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
Among
MONSANTO COMPANY
and
PHARMACIA CORPORATION
as Borrowers,
-- ---------
THE INITIAL LENDERS NAMED HEREIN
as Initial Lenders,
-- ------- -------
CITIBANK, N.A.
as Administrative Agent,
-- -------------- -----
THE CHASE MANHATTAN BANK
as Syndication Agent,
-- ----------- -----
COMMERZBANK AG NEW YORK AND GRAND CAYMAN BRANCHES
and
BANK ONE, NA
as Co-Documentation Agents
-- ---------------- ------
and
SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC.
as Co-Lead Arrangers and Joint Book Managers
-- ------- --------- --- ----- ---- --------
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
{S} {C}
SECTION 1.01. Certain Defined Terms............................................. 1
---------------------
SECTION 1.02. Computation of Time Periods....................................... 11
---------------------------
SECTION 1.03. Accounting Terms.................................................. 11
----------------
ARTICLE II
AMOUNTS AND TERMS OF THE ADVANCES
SECTION 2.01. The Revolving Credit Advances..................................... 12
-----------------------------
SECTION 2.02. Making the Revolving Credit Advances.............................. 12
------------------------------------
SECTION 2.03. The Competitive Bid Advances...................................... 13
----------------------------
SECTION 2.04. Fees.............................................................. 15
----
SECTION 2.05. Termination or Reduction of the Commitments....................... 16
-------------------------------------------
SECTION 2.06. Repayment of Revolving Credit Advances............................ 16
--------------------------------------
SECTION 2.07. Interest on Revolving Credit Advances; Regulation D Compensation.. 16
----------------------------------------------------------------
SECTION 2.08. Interest Rate Determination....................................... 17
---------------------------
SECTION 2.09. Optional Conversion of Revolving Credit Advances.................. 17
------------------------------------------------
SECTION 2.10. Optional Prepayments of Revolving Credit Advances................. 18
-------------------------------------------------
SECTION 2.11. Increased Costs................................................... 18
---------------
SECTION 2.12. Illegality........................................................ 19
----------
SECTION 2.13. Payments and Computations......................................... 20
-------------------------
SECTION 2.14. Taxes............................................................. 21
-----
SECTION 2.15. Sharing of Payments, Etc.......................................... 22
------------------------
SECTION 2.16. Use of Proceeds................................................... 23
---------------
SECTION 2.17. Extension of Termination Date..................................... 23
-----------------------------
SECTION 2.18. Evidence of Debt.................................................. 24
----------------
{/TABLE}
i
{PAGE}
ARTICLE III
CONDITIONS TO EFFECTIVENESS AND LENDING
{TABLE}
{S} {C}
SECTION 3.01. Conditions Precedent to Effectiveness of Sections 2.01 and 2.03............. 25
---------------------------------------------------------------
SECTION 3.02. Conditions Precedent to Monsanto Effective Date............................. 26
-----------------------------------------------
SECTION 3.03. Conditions Precedent to Each Revolving Credit Borrowing and Extension Date.. 27
--------------------------------------------------------------------------
SECTION 3.04. Conditions Precedent to Each Competitive Bid Borrowing...................... 27
------------------------------------------------------
SECTION 3.05. Determinations Under Sections 3.01 and 3.02................................. 28
-------------------------------------------
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
SECTION 4.01. Representations and Warranties of the Borrowers............................. 28
------------------------------------------------
SECTION 4.02. Representation and Warranty of the Lenders.................................. 29
-------------------------------------------
ARTICLE V
COVENANTS OF THE BORROWERS
SECTION 5.01. Affirmative Covenants....................................................... 29
---------------------
SECTION 5.02. Negative Covenants.......................................................... 30
------------------
SECTION 5.03. Financial Covenant.......................................................... 32
------------------
ARTICLE VI
EVENTS OF DEFAULT
SECTION 6.01. Events of Default........................................................... 32
-----------------
ARTICLE VII
THE AGENT
SECTION 7.01. Authorization and Action.................................................... 33
------------------------
SECTION 7.02. Agent's Reliance, Etc....................................................... 34
---------------------
SECTION 7.03. Citibank and Affiliates..................................................... 34
-----------------------
SECTION 7.04. Lender Credit Decision...................................................... 34
----------------------
SECTION 7.05. Indemnification............................................................. 34
---------------
SECTION 7.06. Successor Agent............................................................. 35
---------------
SECTION 7.07. Other Agents................................................................ 35
------------
{/TABLE}
ii
{PAGE}
ARTICLE VIII
MISCELLANEOUS
SECTION 8.01. Amendments, Etc............................................... 35
---------------
SECTION 8.02. Notices, Etc.................................................. 35
------------
SECTION 8.03. No Waiver; Remedies........................................... 35
-------------------
SECTION 8.04. Costs and Expenses............................................ 36
------------------
SECTION 8.05. Right of Set-off.............................................. 36
----------------
SECTION 8.06. Binding Effect................................................ 37
--------------
SECTION 8.07. Assignments and Participations................................ 37
------------------------------
SECTION 8.08. Confidentiality............................................... 39
---------------
SECTION 8.09. Governing Law................................................. 39
-------------
SECTION 8.10. Execution in Counterparts..................................... 39
-------------------------
SECTION 8.11. Jurisdiction, Etc............................................. 39
-----------------
SECTION 8.12. Resignation of Pharmacia as Borrower.......................... 39
------------------------------------
SECTION 8.13. Waiver of Jury Trial.......................................... 39
--------------------
Schedules
---------
Schedule I - List of Applicable Lending Offices
Schedule 3.01(b) - Disclosed Litigation
Exhibits
--------
Exhibit A-1 - Form of Revolving Credit Note
Exhibit A-2 - Form of Competitive Bid Note
Exhibit B-1 - Form of Notice of Revolving Credit Borrowing
Exhibit B-2 - Form of Notice of Competitive Bid Borrowing
Exhibit C - Form of Assignment and Acceptance
Exhibit D - Form of Assumption Agreement
Exhibit E - Form of Notice of Extension of Termination Date
iii
{PAGE}
364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
MONSANTO COMPANY, a Delaware corporation ("Monsanto"), PHARMACIA
--------
CORPORATION, a Delaware corporation ("Pharmacia" and, together with Monsanto,
---------
the "Borrowers"), the banks, financial institutions and other institutional
---------
lenders (the "Initial Lenders") listed on the signature pages hereof, CITIBANK,
---------------
N.A. ("Citibank"), as administrative agent (the "Agent") for the Lenders (as
-------- -----
hereinafter defined), SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC., as
co-lead arrangers and joint book managers, THE CHASE MANHATTAN BANK, as
syndication agent, and COMMERZBANK AG NEW YORK AND GRAND CAYMAN BRANCHES
("Commerzbank") and BANK ONE, NA, as co-documentation agent, agree as follows:
-----------
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01. Certain Defined Terms. As used in this Agreement,
---------------------
the following terms shall have the following meanings (such meanings to be
equally applicable to both the singular and plural forms of the terms defined):
"Advance" means a Revolving Credit Advance or a Competitive Bid
-------
Advance.
"Affiliate" means, as to any Person, any other Person that, directly
---------
or indirectly, controls, is controlled by or is under common control with
such Person or is a director or officer of such Person. For purposes of
this definition, the term "control" (including the terms "controlling",
"controlled by" and "under common control with") of a Person means the
possession, direct or indirect, of the power to vote 5% or more of the
Voting Stock of such Person or to direct or cause the direction of the
management and policies of such Person, whether through the ownership of
Voting Stock, by contract or otherwise.
"Agent's Account" means the account of the Agent maintained by the
---------------
Agent at Citibank with its office at 399 Park Avenue, New York, New York
10043, Account No. 36852248, Attention: William Clark.
"Aggregate Amount of Financing Outstanding" at any time means the
-----------------------------------------
aggregate amount of proceeds received in connection with a Permitted
Receivables Financing, less (a) any amounts collected in connection with
the accounts receivable sold, conveyed or otherwise transferred pursuant to
such financing and (b) the amount of any defaulted accounts receivable the
uncollectibility of which is a risk assumed by the transferee of such
accounts receivable.
"Applicable Lending Office" means, with respect to each Lender, such
-------------------------
Lender's Domestic Lending Office in the case of a Base Rate Advance and
such Lender's Eurodollar Lending Office in the case of a Eurodollar Rate
Advance and, in the case of a Competitive Bid Advance, the office of such
Lender notified by such Lender to the Agent as its Applicable Lending
Office with respect to such Competitive Bid Advance.
{PAGE}
"Applicable Margin" means, as to any Borrower, for Base Rate Advances
-----------------
made to such Borrower, 0.0% per annum and, for Eurodollar Rate Advances
made to such Borrower as of any date, a percentage per annum determined by
reference to the Public Debt Rating of such Borrower in effect on such date
as set forth below:
222667
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – Agent,
-- ----------- -----
COMMERZBANK AG NEW YORK AND GRAND CAYMAN BRANCHES
and
BANK ONE, NA
as Co-Documentation Agents
-- ---------------- ------
and
SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC .
as Co-Lead Arrangers and Joint Book Managers
-- ------- --------- --- ----- ---- --------
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
{S} {
_____________
CHASE SECURITIES INC – signature pages hereof, CITIBANK,
---------------
N.A. ("Citibank"), as administrative agent (the "Agent") for the Lenders (as
-------- -----
hereinafter defined), SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC ., as
co-lead arrangers and joint book managers, THE CHASE MANHATTAN BANK, as
syndication agent, and COMMERZBANK AG NEW YORK AND GRAND
_____________
Chase Securities Inc – and certain
other lenders parties thereto, Citibank, N.A., as Agent for the Lender and such
other lenders, Salomon Smith Barney Inc. and Chase Securities Inc ., as co-lead
arrangers and co-book managers, The Chase Manhattan Bank, as syndication agent,
and Commerzbank AG New York and Grand
_____________
Chase Securities Inc – and certain other lenders parties thereto,
Citibank, N.A., as Agent for the Lender and such other lenders, Salomon Smith
Barney Inc. and Chase Securities Inc ., as co-lead arrangers and co-book
managers, The Chase Manhattan Bank, as syndication agent, and Commerzbank AG New
York and Grand
_____________
Chase Securities
Inc – as therein
----------------
defined), among the undersigned, certain Lenders parties thereto, Citibank,
N.A., as Agent for said Lenders, Salomon Smith Barney Inc. and Chase Securities
Inc ., as co-lead arrangers and co-book managers, The Chase Manhattan Bank, as
syndication agent, and Commerzbank AG New York and Grand
_____________
dt 212532
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – AGREEMENT
Dated as of August 8, 2000
Among
MONSANTO COMPANY
and
PHARMACIA CORPORATION
as Borrowers,
-- ---------
THE INITIAL LENDERS NAMED HEREIN
as Initial Lenders,
-- ------- -------
CITIBANK, N.A.
as Administrative Agent,
-- -------------- -----
THE CHASE MANHATTAN BANK
as Syndication Agent,
-- ----------- -----
COMMERZBANK AG NEW YORK AND GRAND CAYMAN BRANCHES
and
BANK ONE, NA
_____________
CITIBANK,
---------------
N.A. – and, together with Monsanto,
---------
the "Borrowers"), the banks, financial institutions and other institutional
---------
lenders (the "Initial Lenders") listed on the signature pages hereof, CITIBANK,
---------------
N.A. ("Citibank"), as administrative agent (the "Agent") for the Lenders (as
-------- -----
hereinafter defined), SALOMON SMITH BARNEY INC. and CHASE SECURITIES INC., as
co-
_____________
CITIBANK, N.A. – executed by their respective officers thereunto duly authorized, as of the
date first above written.
MONSANTO COMPANY
By____________________________
Title:
PHARMACIA CORPORATION
By____________________________
Title:
CITIBANK, N.A. ,
as Agent
By____________________________
Title:
Initial Lenders
---------------
$126,666,666.67 CITIBANK, N.A.
By____________________________
Title:
$126,666,666.67 THE CHASE MANHATTAN
_____________
CITIBANK, N.A. – above written.
MONSANTO COMPANY
By____________________________
Title:
PHARMACIA CORPORATION
By____________________________
Title:
CITIBANK, N.A.,
as Agent
By____________________________
Title:
Initial Lenders
---------------
$126,666,666.67 CITIBANK, N.A.
By____________________________
Title:
$126,666,666.67 THE CHASE MANHATTAN BANK
By____________________________
Title:
$106,666,666.67 BANK ONE, NA (MAIN OFFICE CHICAGO)
_____________
CITIBANK, N.A. – Stephen P. Rochford Attn: Stephen P. Rochford
T: 212-270-7275 T: 212-270-7275
F: 212-270-5135 F: 212-270-5135
--------------------------------------------------------------------------------------------------------------------
CITIBANK, N.A. Citibank, N.A. Citibank, N.A.
Two Penns Way Two Penns Way
Suite 200 Suite 200
New Castle, DE 19720 New Castle,
_____________
dt 146457
;
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill
---
Companies, Inc – indebtedness of the Borrower to such
Lender resulting from the Revolving Credit Advances made to such Borrower
by such Lender.
"S&P" means Standard & Poor's, a division of The McGraw-Hill
---
Companies, Inc .
"Short Term Rating" has the meaning assigned in the definition of
-----------------
"Public Debt Rating".
"Single Employer Plan" means a single employer plan, as defined in
--------------------
Section 4001(a)(15)
_____________
dt 1516313
;
|
Monsanto
As referenced in this 364-Day Credit Agreement:
monsanto – 1,000,000,000
364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
Among
MONSANTO COMPANY
and
PHARMACIA CORPORATION
as Borrowers,
-- ---------
THE INITIAL LENDERS NAMED HEREIN
as Initial Lenders,
-- ------- -------
CITIBANK,
monsanto – Effectiveness of Sections 2.01 and 2.03............. 25
---------------------------------------------------------------
SECTION 3.02. Conditions Precedent to Monsanto Effective Date............................. 26
-----------------------------------------------
SECTION 3.03. Conditions Precedent to Each Revolving Credit Borrowing and Extension
monsanto – of Termination Date
iii
{PAGE}
364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
MONSANTO COMPANY, a Delaware corporation ("Monsanto"), PHARMACIA
--------
CORPORATION, a Delaware corporation ("Pharmacia" and, together with Monsanto,
---------
"monsanto" – 364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
MONSANTO COMPANY, a Delaware corporation ("Monsanto" ), PHARMACIA
--------
CORPORATION, a Delaware corporation ("Pharmacia" and, together with Monsanto,
---------
the "Borrowers"), the banks,
monsanto, – MONSANTO COMPANY, a Delaware corporation ("Monsanto"), PHARMACIA
--------
CORPORATION, a Delaware corporation ("Pharmacia" and, together with Monsanto,
---------
the "Borrowers"), the banks, financial institutions and other institutional
---------
lenders (the "Initial Lenders") listed
dt 19841
;
Pharmacia
As referenced in this 364-Day Credit Agreement:
PHARMACIA CORP – 000
364-DAY CREDIT AGREEMENT
Dated as of August 8, 2000
Among
MONSANTO COMPANY
and
PHARMACIA CORP ORATION
as Borrowers,
-- ---------
THE INITIAL LENDERS NAMED HEREIN
as Initial Lenders,
-- ------- -------
CITIBANK, N.A.
as
PHARMACIA
--------
CORP – DAY CREDIT AGREEMENT
Dated as of August 8, 2000
MONSANTO COMPANY, a Delaware corporation ("Monsanto"), PHARMACIA
--------
CORP ORATION, a Delaware corporation ("Pharmacia" and, together with Monsanto,
---------
the "Borrowers"), the banks, financial institutions
PHARMACIA CORP – officers thereunto duly authorized, as of the
date first above written.
MONSANTO COMPANY
By____________________________
Title:
PHARMACIA CORP ORATION
By____________________________
Title:
CITIBANK, N.A.,
as Agent
By____________________________
Title:
Initial Lenders
---------------
$126,666,666.
Pharmacia Corp – modified from time to time, the "Credit Agreement") among
----------------
Monsanto Company, a Delaware corporation ("Monsanto") Pharmacia Corp oration, a
--------
Delaware corporation ("Pharmacia" and together with Monsanto, the "Borrowers"),
--------- ---------
the Lenders (as defined
PHARMACIA CORP – reason of clause
(iii) of the definition of "Eligible Assignee".
{PAGE}
MONSANTO COMPANY
By______________________________]*
Title:
PHARMACIA CORP ORATION
By______________________________]*
Title:
_____________________________
* Required if the Assignee is an Eligible Assignee solely by reason
dt 45598
;
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Full Doc
| 2001 |
364-Day Credit Agreement [Amendment No. 1]
364-Day Credit Agreement [Amendment No. 1] (11K)
Doc #229410: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-4.6
{SEQUENCE}2
{FILENAME}0002.txt
{TEXT}
FIRST AMENDMENT dated as of October 26, 2000, to the 364-DAY
CREDIT AGREEMENT, dated as of October 28, 1999 among CROMPTON
CORPORATION (formerly CK Witco Corporation), the Eligible
Subsidiaries referred to therein, the BANKS listed on the
signature pages thereof, THE CHASE MANHATTAN BANK, as Syndication
Agent, CITIBANK, N.A., as Administrative Agent, BANK OF AMERICA,
N.A. and DEUTSCHE BANK SECURITIES INC., as Co-Documentation
Agents, and CHASE SECURITIES INC., as Lead Arranger and Sole Book
Manager (the "First Amendment").WHEREAS, the Company, the
Eligible Subsidiaries, certain Banks, the Co-Documentation
Agents, the Syndication Agent and the Administrative Agent are
parties to the 364-Day Credit Agreement dated as of October 28,
1999 (the "Original Credit Agreement");
WHEREAS, the Company has requested that the Banks amend
the Original Credit Agreement by (i) changing the definition of
Termination Date and (ii) amending the representations contained
in Section 4.04 of the Original Agreement, all as provided below;
WHEREAS, the Company and Banks have agreed to reduce
the Commitments to $191,600,000;
WHEREAS, the undersigned Banks are willing, on the
terms and subject to the conditions set forth herein, to approve
such amendment;
WHEREAS, capitalized terms used but not defined herein
have the meanings assigned to them in the Original Credit
Agreement as amended hereby;
NOW, THEREFORE, in consideration of these premises, the
Company and the undersigned Banks hereby agree as follows:
SECTION 1. Amendment. Effective as of the date
hereof, the Original Credit Agreement, including all schedules
and exhibits thereto, is hereby amended as expressly provided
herein, and all rights and obligations of the Company, the Banks
and the Administrative Agent under the Original Credit Agreement
(including accrued fees) shall continue as rights and obligations
of such parties under the Original Credit Agreement, in each case
amended as provided below:
(a) The definition of "Termination Date" in Section
1.01 of the Original Credit Agreement is hereby replaced in its
entirety with the following:
"'Termination Date' means October 25, 2001, or, if such
date is not a Euro-dollar Business Day, the next preceding Euro-
Dollar Business Day or, in the case of any Bank, any later date
to which the Termination Date shall have been extended as to such
Bank pursuant to Section 2."
(b) Section 4.04 of the Original Credit Agreement is
hereby replaced in its entirety with the following:
SECTION 4.04. Financial Information. (a) The
unaudited consolidated balance sheet of the Company and its
Consolidated Subsidiaries as of June 30, 2000 and the related
unaudited consolidated statement of operations for the six months
then ended, a copy of which has been delivered to each of the
Banks, fairly present, in conformity with generally accepted
accounting principles, the consolidated financial position of the
Company and its Consolidated Subsidiaries as of such date and
their consolidated results of operations for such fiscal year.
(b) Since December 31, 1999, there has been no
material adverse change in the business, financial position or
results of operations of the Company and its Consolidated
Subsidiaries, considered as a whole.
(c) From and after the effective date of this First
Amendment, all references in the Original Credit Agreement to the
signature pages thereof shall mean and refer to the signature
pages attached hereto.
SECTION 2. Representations and Warranties. The
representations and warranties set forth in Article IV of the
Original Credit Agreement, as amended by this First Amendment,
shall be deemed to have been repeated in this First Amendment on
and as of the date hereof, with all references to "this
Agreement" being deemed to refer to the Original Credit
Agreement, as amended by this First Amendment.
SECTION 3. Effectiveness. This First Amendment shall
become effective on the date on which the Syndication Agent shall
have received counterparts of this First Amendment that, when
taken together, bear the signatures of the Company, the Banks and
the Syndication Agent.
SECTION 4. Applicable Law. This First Amendment shall
be construed in accordance with and governed by the law of the
State of New York.
SECTION 5. Counterparts. This First Amendment may be
executed in two or more counterparts, each of which shall
constitute an original, but all of which when taken together
shall constitute but one contract. Delivery of an executed
counterpart of a signature page of this First Amendment by
facsimile transmission shall be as effective as delivery of a
manually executed counterpart hereof.
SECTION 6. Headings. Section headings used herein are
for convenience of reference only, are not part of, and are not
to be taken into consideration in interpreting, this First
Amendment.
SECTION 7. Expenses. The Company shall reimburse the
Syndication Agent for its expenses in connection with this First
Amendment as separately agreed with the Syndication Agent.
IN WITNESS WHEREOF, the Company, the Administrative
Agent and the undersigned Banks have caused this Amendment to be
duly executed by their duly authorized officers, all as of the
date first above written.
CROMPTON CORPORATION,
By
Name: John R. Jepsen
Title: Treasurer
Address: One American Lane
Greenwich, CT 06831
Phone: (203) 552-3175
Facsimile: (203) 552-2868
Banks
BANK OF AMERICA, N.A.,
By
229410
|
Chase Securities
As referenced in this 364-Day Credit Agreement [Amendment No. 1]:
CHASE SECURITIES INC – Syndication
Agent, CITIBANK, N.A., as Administrative Agent, BANK OF AMERICA,
N.A. and DEUTSCHE BANK SECURITIES INC., as Co-Documentation
Agents, and CHASE SECURITIES INC ., as Lead Arranger and Sole Book
Manager (the "First Amendment").WHEREAS, the Company, the
Eligible Subsidiaries, certain Banks, the Co-Documentation
Agents,
_____________
dt 212534
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement [Amendment No. 1]:
ABN AMRO BANK – World Financial Center
New York, NY 10281
Attention: Peter Doyle
Fascsimile number: 212-266-7594
ABN AMRO BANK N.V.,
By
Name:
Title:
By
Name:
Title:
500 Park Avenue
New York, NY 10022
dt 45487
;
Citibank
As referenced in this 364-Day Credit Agreement [Amendment No. 1]:
CITIBANK, N.A. – Witco Corporation), the Eligible
Subsidiaries referred to therein, the BANKS listed on the
signature pages thereof, THE CHASE MANHATTAN BANK, as Syndication
Agent, CITIBANK, N.A. , as Administrative Agent, BANK OF AMERICA,
N.A. and DEUTSCHE BANK SECURITIES INC., as Co-Documentation
Agents, and CHASE SECURITIES INC., as
_____________
CITIBANK, N.A. – 359-6146
HIBERNIA NATIONAL BANK,
By
Name:
Title:
313 Carondelet Street
New Orleans, LA 70130
Attention: Spencer Gagnet
Facsimile number: 504-533-5434
CITIBANK, N.A. , individually and as Administrative Agent,
By
Name:
Title:
399 Park Avenue, 4th Fl.,
Zone 16
New York, NY 10043
Attention: Carolyn Sheridan
_____________
dt 146509
;
|
Crompton
As referenced in this 364-Day Credit Agreement [Amendment No. 1]:
CROMPTON
– 26, 2000, to the 364-DAY
CREDIT AGREEMENT, dated as of October 28, 1999 among CROMPTON
CORPORATION (formerly CK Witco Corporation), the Eligible
Subsidiaries referred to therein, the BANKS listed
CROMPTON – duly executed by their duly authorized officers, all as of the
date first above written.
CROMPTON CORPORATION,
By
Name: John R. Jepsen
Title: Treasurer
Address: One American Lane
Greenwich, CT 06831
dt 56086
;
BofA
As referenced in this 364-Day Credit Agreement [Amendment No. 1]:
BANK OF AMERICA, – pages thereof, THE CHASE MANHATTAN BANK, as Syndication
Agent, CITIBANK, N.A., as Administrative Agent, BANK OF AMERICA,
N.A. and DEUTSCHE BANK SECURITIES INC., as Co-Documentation
Agents, and CHASE SECURITIES
BANK OF AMERICA, – One American Lane
Greenwich, CT 06831
Phone: (203) 552-3175
Facsimile: (203) 552-2868
Banks
BANK OF AMERICA, N.A.,
By
Name:
Title:
335 Madison Avenue
New York, NY 10017
Attention: Wendy
dt 41087
;
More... |
Preview
Full Doc
| 2003 |
364-Day Credit Agreement
364-Day Credit Agreement (275K)
Doc #253203: Click preview link for longer preview.
364-DAY CREDIT AGREEMENT
Dated as of May 22, 2002
THE KROGER CO., an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof, and CITIBANK, N.A. ("Citibank"), as an
--------
administrative agent (in such capacity, an "Administrative Agent") for the
--------------------
Lenders (as hereinafter defined) and paying agent (in such capacity, the "Paying
------
Agent") for the Lenders, JPMORGAN CHASE BANK ("JPMorgan Chase"), as an
----- --------------
administrative agent (in such capacity, an "Administrative Agent"; the
--------------------
Administrative Agents and the Paying Agent are, collectively, the "Agents") for
------
the Lenders, and BANK OF AMERICA, N.A., BANK ONE, NA and THE BANK OF
TOKYO-MITSUBISHI, LTD., CHICAGO BRANCH and UNION BANK OF CALIFORNIA, N.A. as
co-syndication agents for the Lenders, agree as follows:
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01. Certain Defined Terms. As used in this Agreement, the
---------------------
following terms shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):
"Acquired EBITDA" means, for any period, with respect to any Acquired
---------------
Entity, (a) the sum of (i) Acquired Net Income for such period, (ii)
depreciation and amortization expense for such period, (iii) interest
expense net of interest income for such period, (iv) Federal and state
income taxes for such period as determined in accordance with GAAP, (v)
extraordinary losses that have been included in the calculation of Acquired
Net Income for such period, (vi) LIFO charges included in the calculation
of Acquired Net Income for such period and (vii) non-cash charges made with
respect to "expected post retirement benefit obligations" within the
meaning of Statement of Financial Accounting Standards No. 106 minus (b)
-----
the sum of (i) extraordinary gains that have been included in the
calculation of Acquired Net Income for such period and (ii) LIFO credits
included in the calculation of Acquired Net Income for such period.
"Acquired Entity" means any Person in the Borrower's line of business
---------------
or the assets of any Person in the Borrower's line of business to be
invested in or acquired.
"Acquired Entity Fiscal Quarter" means, with respect to any Acquired
------------------------------
Entity, any fiscal quarter of such Acquired Entity.
"Acquired Net Income" means, for any period, with respect to any
-------------------
Acquired Entity, the net income of such Acquired Entity for such period
before the payment of dividends on all capital stock, determined in
accordance with GAAP.
"Administrative Questionnaire" means an Administrative Questionnaire
----------------------------
in the form of Exhibit D.
"Advance" means a Revolving Credit Advance or a Competitive Bid
-------
Advance.
"Affiliate" means, with respect to any designated Person, any other
---------
Person that has a relationship with the designated Person whereby either of
such Persons directly or indirectly controls or is controlled by or is
under common control with the other of such Persons, or holds or
beneficially owns 10% or more of
{PAGE}
the equity interest in the other Person or 10% or more of any class of
voting securities of the other Person. The term "control" means the
possession, directly or indirectly, of the power, whether or not exercised,
to direct or cause the direction of the management or policies of any
Person, whether through ownership of voting securities, by contract or
otherwise.
"Applicable Lending Office" means, with respect to each Lender, such
-------------------------
Lender's Domestic Lending Office in the case of a Base Rate Advance, such
Lender's Eurodollar Lending Office in the case of a Eurodollar Rate Advance
and, in the case of a Competitive Bid Advance, the office of such Lender
specified in a notice of such Lender to the Paying Agent as such Lender's
Applicable Lending Office with respect to such Competitive Bid Advance.
"Applicable Margin" means, as of any date prior to the Term Loan
-----------------
Conversion Date, a percentage per annum determined by reference to the
Borrower's Performance Level in effect on such date as set forth below:
{TABLE}
{CAPTION}
---------------------------------------------------------------------------------------------------------
Performance Applicable Margin for Applicable Margin for
Level Base Rate Advances Eurodollar Rate Advances
---------------------------------------------------------------------------------------------------------
{S} {C} {C}
Level 1 0.0000% 0.330%
---------------------------------------------------------------------------------------------------------
Level 2 0.0000% 0.525%
---------------------------------------------------------------------------------------------------------
Level 3 0.0000% 0.625%
---------------------------------------------------------------------------------------------------------
Level 4 0.0000% 0.800%
---------------------------------------------------------------------------------------------------------
Level 5 0.0000% 1.000%
---------------------------------------------------------------------------------------------------------
{/TABLE}
and, as of any date on or after the Term Loan Conversion Date, a percentage
per annum determined by reference to the Borrower's Performance Level in
effect on such date as set forth below:
{TABLE}
{CAPTION}
---------------------------------------------------------------------------------------------------------
Performance Applicable Margin for Applicable Margin for
Level Base Rate Advances Eurodollar Rate Advances
---------------------------------------------------------------------------------------------------------
{S} {C} {C}
Level 1 0.0000% 0.500%
---------------------------------------------------------------------------------------------------------
Level 2 0.0000% 0.750%
---------------------------------------------------------------------------------------------------------
Level 3 0.0000% 0.875%
---------------------------------------------------------------------------------------------------------
Level 4 0.0000% 1.125%
---------------------------------------------------------------------------------------------------------
Level 5 0.0000% 1.500%
---------------------------------------------------------------------------------------------------------
{/TABLE}
provided that, in each case, the Applicable Margin for Eurodollar Rate
--------
Advances set opposite the Performance Level 1 and Performance Level 2
above shall be increased by 0.125% until the date that the Borrower's
Commercial Paper is rated at least A2, P2 or F2 by at least two of S&P,
Moody's or Fitch, respectively.
"Applicable Percentage Ratio" means the ratio (determined as of the
---------------------------
last day of each Fiscal Quarter for the Rolling Period ending on such day)
of (a) Consolidated EBITDA for such Rolling Period to (b) Consolidated
Total Interest Expense for such Rolling Period.
"Assignment and Acceptance" means an assignment and acceptance entered
-------------------------
into by a Lender and an assignee, and to the extent required by Section
8.06, accepted by the Borrower and the Administrative Agents, in
substantially the form of Exhibit C hereto or such other form as shall be
approved by the Administrative Agents.
"Assuming Lender" has the meaning specified in Section 2.16(c).
---------------
"Assumption Agreement" has the meaning specified in Section 2.16(c).
--------------------
"Base Rate" means a fluctuating rate per annum equal to the highest
---------
from time to time of:
253203
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – as of March 11, 1998, amended and restated as of December 18,
1998, among Fred Meyer, Inc., as borrower, the lenders parties thereto,
Chase Securities Inc ., as lead arranger and book manager, Bankers Trust
Company, as administrative agent, The Chase Manhattan Bank, as
syndication agent, and NationsBank of
_____________
dt 212559
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof, and CITIBANK, N.A. ("Citibank"), as an
--------
administrative agent (in such capacity, an "Administrative Agent") for the
--------------------
Lenders (as hereinafter defined) and paying agent (in such
_____________
CITIBANK, N.A. – their respective officers thereunto duly authorized,
as of the date first above written.
THE KROGER CO.
By /s/ Scott M. Henderson
--------------------------
Title: Treasurer
CITIBANK, N.A. , as Administrative Agent and as
Paying Agent
By /s/ Steven R. Victorin
--------------------------
Title: Vice President
JPMORGAN CHASE BANK, as
Administrative Agent
By /
_____________
CITIBANK, N.A. – JPMORGAN CHASE BANK, as
Administrative Agent
By /s/ Teri Streusand
--------------------------
Title: Vice President
42
{PAGE}
Initial Lenders
---------------
Commitment Administrative Agents
---------- ---------------------
$ 82,669,000 CITIBANK, N.A.
By /s/ Steven R. Victorin
-------------------------------
Title: Vice President
$106,820,000 JPMORGAN CHASE BANK
By /s/ Teri Streusand
-------------------------------
Title: Vice President
Co-
_____________
CITIBANK, N.A. – Tel: (212) 471-6629 Tel: (212) 471-6629
Fax: (212) 471-6695 Fax: (212) 471-6695
{/TABLE}
1
{PAGE}
{TABLE}
{S} {C} {C}
CITIBANK, N.A. Two Penns Way, Suite 200 Two Penns Way, Suite 200
New Castle, DE 19720 New Castle, DE 19720
Brian Maxwell Brian Maxwell
_____________
Citibank, N.A. – 132,000.00
-------------------
TOTAL $898,555,075.44
-------------------
Permitted Lien Amount ===================
2
{PAGE}
EXHIBIT A-1 - FORM OF NOTICE OF
REVOLVING CREDIT BORROWING
Citibank, N.A. , as Paying Agent
for the Lenders parties
to the Credit Agreement
referred to below
Two Penns Way
New Castle, DE 19720 [Date]
_____________
dt 146691
;
Kroger
As referenced in this 364-Day Credit Agreement:
KROGER CO – dex991.txt
{DESCRIPTION}364-DAY CREDIT AGREEMENT
{TEXT}
{PAGE}
Exhibit 99.1
364-DAY CREDIT AGREEMENT
Dated as of May 22, 2002
THE KROGER CO ., an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof,
_____________
Kroger Co – delivered by hand or overnight courier service, mailed
or sent by telecopy, as follows:
(a) If to the Borrower, to it at The Kroger Co ., 1014 Vine
Street, Cincinnati, Ohio 45202, Attention of Mr. Scott M. Henderson
(Telecopy No. (513) 762-4454); with a copy to Mr.
_____________
KROGER CO – hereto have caused this
Agreement to be executed by their respective officers thereunto duly authorized,
as of the date first above written.
THE KROGER CO .
By /s/ Scott M. Henderson
--------------------------
Title: Treasurer
CITIBANK, N.A., as Administrative Agent and as
Paying Agent
By /s/ Steven R. Victorin
--------------------------
_____________
KROGER CO – HIBERNIA BANK
By /s/ Andrew B. Booth III
---------------------------------
Title: Vice President
$1,250,000,000 Total of Commitments
46
{PAGE}
SCHEDULE I
THE KROGER CO .
364-DAY CREDIT AGREEMENT
APPLICABLE LENDING OFFICES
{TABLE}
{CAPTION}
Name of Initial Lenders Domestic Lending Office Eurodollar Lending Office
------------------------------------------------------------------------------------------------
{S} {C} {C}
_____________
Kroger Co – HIBERNIA BANK
{/TABLE}
4
{PAGE}
SCHEDULE 3.01(b)
DISCLOSED LITIGATION
On November 29, 2001, a lawsuit titled Wade, et al. v. The Kroger Co ., et al.,
was filed in the U.S. District Court, Western District of Kentucky, Louisville
Division, against The Kroger Co. The complaint,
_____________
dt 107445
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – Fiscal Quarter, such Fiscal
--------------
Quarter and the three preceding Fiscal Quarters.
"S&P" means Standard & Poor's Ratings Group, a division of The
---
McGraw-Hill Companies, Inc .
12
{PAGE}
"Subsidiary" of any Person means any corporation, partnership, joint
----------
venture, limited liability company, trust or estate of which (or in
_____________
dt 311589
;
AmSouth Bank
As referenced in this 364-Day Credit Agreement:
AMSOUTH BANK
– Title: Vice President
45
{PAGE}
$7,102,000 PNC BANK, NATIONAL ASSOCIATION
By /s/ Jeffrey L. Stein
---------------------------------
Title: Vice President
$10,000,000 AMSOUTH BANK
By /s/ Betty Parker
---------------------------------
Title: Vice President
$2,841,000 HIBERNIA BANK
By /s/ Andrew B. Booth III
---------------------------------
Title: Vice President
$1,
_____________
AMSOUTH BANK – CO.
364-DAY CREDIT AGREEMENT
APPLICABLE LENDING OFFICES
{TABLE}
{CAPTION}
Name of Initial Lenders Domestic Lending Office Eurodollar Lending Office
------------------------------------------------------------------------------------------------
{S} {C} {C}
AMSOUTH BANK 315 Deaderick Street 315 Deaderick Street
Nashville, TN 37237 Nashville, TN 37237
Betty Parker Betty Parker
Tel: (615) 790-4405 Tel: (615)
_____________
dt 215605
;
More... |
Preview
Full Doc
| 2002 |
364-Day Credit Agreement
364-Day Credit Agreement (272K)
Doc #253227: Click preview link for longer preview.
364-DAY CREDIT AGREEMENT
Dated as of May 22, 2002
THE KROGER CO., an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof, and CITIBANK, N.A. ("Citibank"), as an
--------
administrative agent (in such capacity, an "Administrative Agent") for the
--------------------
Lenders (as hereinafter defined) and paying agent (in such capacity, the "Paying
------
Agent") for the Lenders, JPMORGAN CHASE BANK ("JPMorgan Chase"), as an
----- --------------
administrative agent (in such capacity, an "Administrative Agent"; the
--------------------
Administrative Agents and the Paying Agent are, collectively, the "Agents") for
------
the Lenders, and BANK OF AMERICA, N.A., BANK ONE, NA and THE BANK OF
TOKYO-MITSUBISHI, LTD., CHICAGO BRANCH and UNION BANK OF CALIFORNIA, N.A. as
co-syndication agents for the Lenders, agree as follows:
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01. Certain Defined Terms. As used in this Agreement, the
---------------------
following terms shall have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):
"Acquired EBITDA" means, for any period, with respect to any Acquired
---------------
Entity, (a) the sum of (i) Acquired Net Income for such period, (ii)
depreciation and amortization expense for such period, (iii) interest
expense net of interest income for such period, (iv) Federal and state
income taxes for such period as determined in accordance with GAAP, (v)
extraordinary losses that have been included in the calculation of Acquired
Net Income for such period, (vi) LIFO charges included in the calculation
of Acquired Net Income for such period and (vii) non-cash charges made with
respect to "expected post retirement benefit obligations" within the
meaning of Statement of Financial Accounting Standards No. 106 minus (b)
-----
the sum of (i) extraordinary gains that have been included in the
calculation of Acquired Net Income for such period and (ii) LIFO credits
included in the calculation of Acquired Net Income for such period.
"Acquired Entity" means any Person in the Borrower's line of business
---------------
or the assets of any Person in the Borrower's line of business to be
invested in or acquired.
"Acquired Entity Fiscal Quarter" means, with respect to any Acquired
------------------------------
Entity, any fiscal quarter of such Acquired Entity.
"Acquired Net Income" means, for any period, with respect to any
-------------------
Acquired Entity, the net income of such Acquired Entity for such period
before the payment of dividends on all capital stock, determined in
accordance with GAAP.
"Administrative Questionnaire" means an Administrative Questionnaire
----------------------------
in the form of Exhibit D.
"Advance" means a Revolving Credit Advance or a Competitive Bid
-------
Advance.
"Affiliate" means, with respect to any designated Person, any other
---------
Person that has a relationship with the designated Person whereby either of
such Persons directly or indirectly controls or is controlled by or is
under common control with the other of such Persons, or holds or
beneficially owns 10% or more of
{PAGE}
the equity interest in the other Person or 10% or more of any class of
voting securities of the other Person. The term "control" means the
possession, directly or indirectly, of the power, whether or not exercised,
to direct or cause the direction of the management or policies of any
Person, whether through ownership of voting securities, by contract or
otherwise.
"Applicable Lending Office" means, with respect to each Lender, such
-------------------------
Lender's Domestic Lending Office in the case of a Base Rate Advance, such
Lender's Eurodollar Lending Office in the case of a Eurodollar Rate Advance
and, in the case of a Competitive Bid Advance, the office of such Lender
specified in a notice of such Lender to the Paying Agent as such Lender's
Applicable Lending Office with respect to such Competitive Bid Advance.
"Applicable Margin" means, as of any date prior to the Term Loan
-----------------
Conversion Date, a percentage per annum determined by reference to the
Borrower's Performance Level in effect on such date as set forth below:
{TABLE}
{CAPTION}
---------------------------------------------------------------------------------------------------------
Performance Applicable Margin for Applicable Margin for
Level Base Rate Advances Eurodollar Rate Advances
---------------------------------------------------------------------------------------------------------
{S} {C} {C}
Level 1 0.0000% 0.330%
---------------------------------------------------------------------------------------------------------
Level 2 0.0000% 0.525%
---------------------------------------------------------------------------------------------------------
Level 3 0.0000% 0.625%
---------------------------------------------------------------------------------------------------------
Level 4 0.0000% 0.800%
---------------------------------------------------------------------------------------------------------
Level 5 0.0000% 1.000%
---------------------------------------------------------------------------------------------------------
{/TABLE}
and, as of any date on or after the Term Loan Conversion Date, a percentage
per annum determined by reference to the Borrower's Performance Level in
effect on such date as set forth below:
{TABLE}
{CAPTION}
---------------------------------------------------------------------------------------------------------
Performance Applicable Margin for Applicable Margin for
Level Base Rate Advances Eurodollar Rate Advances
---------------------------------------------------------------------------------------------------------
{S} {C} {C}
Level 1 0.0000% 0.500%
---------------------------------------------------------------------------------------------------------
Level 2 0.0000% 0.750%
---------------------------------------------------------------------------------------------------------
Level 3 0.0000% 0.875%
---------------------------------------------------------------------------------------------------------
Level 4 0.0000% 1.125%
---------------------------------------------------------------------------------------------------------
Level 5 0.0000% 1.500%
---------------------------------------------------------------------------------------------------------
{/TABLE}
provided that, in each case, the Applicable Margin for Eurodollar Rate
--------
Advances set opposite the Performance Level 1 and Performance Level 2
above shall be increased by 0.125% until the date that the Borrower's
Commercial Paper is rated at least A2, P2 or F2 by at least two of S&P,
Moody's or Fitch, respectively.
"Applicable Percentage Ratio" means the ratio (determined as of the
---------------------------
last day of each Fiscal Quarter for the Rolling Period ending on such day)
of (a) Consolidated EBITDA for such Rolling Period to (b) Consolidated
Total Interest Expense for such Rolling Period.
"Assignment and Acceptance" means an assignment and acceptance entered
-------------------------
into by a Lender and an assignee, and to the extent required by Section
8.06, accepted by the Borrower and the Administrative Agents, in
substantially the form of Exhibit C hereto or such other form as shall be
approved by the Administrative Agents.
"Assuming Lender" has the meaning specified in Section 2.16(c).
---------------
"Assumption Agreement" has the meaning specified in Section 2.16(c).
--------------------
"Base Rate" means a fluctuating rate per annum equal to the highest
---------
from time to time of:
253227
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – as of March 11, 1998, amended and restated as of December 18,
1998, among Fred Meyer, Inc., as borrower, the lenders parties thereto,
Chase Securities Inc ., as lead arranger and book manager, Bankers Trust
Company, as administrative agent, The Chase Manhattan Bank, as
syndication agent, and NationsBank of
_____________
dt 212561
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof, and CITIBANK, N.A. ("Citibank"), as an
--------
administrative agent (in such capacity, an "Administrative Agent") for the
--------------------
Lenders (as hereinafter defined) and paying agent (in such
_____________
CITIBANK, N.A. – to be executed by their respective officers thereunto duly authorized,
as of the date first above written.
THE KROGER CO.
By __________________________
Title:
CITIBANK, N.A. , as Administrative Agent and as
Paying Agent
By __________________________
Title:
JPMORGAN CHASE BANK, as
Administrative Agent
By __________________________
Title:
42
{PAGE}
Initial
_____________
CITIBANK, N.A. – Agent
By __________________________
Title:
JPMORGAN CHASE BANK, as
Administrative Agent
By __________________________
Title:
42
{PAGE}
Initial Lenders
---------------
Commitment Administrative Agents
---------- ---------------------
$ 82,669,000 CITIBANK, N.A.
By _______________________________
Title:
$106,820,000 JPMORGAN CHASE BANK
By _______________________________
Title:
Co-Syndication Agents
---------------------
$117,188,000 BANK OF AMERICA, N.
_____________
CITIBANK, N.A. – Tel: (212) 471-6629 Tel: (212) 471-6629
Fax: (212) 471-6695 Fax: (212) 471-6695
{/TABLE}
1
{PAGE}
{TABLE}
{S} {C} {C}
CITIBANK, N.A. Two Penns Way, Suite 200 Two Penns Way, Suite 200
New Castle, DE 19720 New Castle, DE 19720
Brian Maxwell Brian Maxwell
_____________
Citibank, N.A. – 132,000.00
-------------------
TOTAL $898,555,075.44
-------------------
Permitted Lien Amount ===================
2
{PAGE}
EXHIBIT A-1 - FORM OF NOTICE OF
REVOLVING CREDIT BORROWING
Citibank, N.A. , as Paying Agent
for the Lenders parties
to the Credit Agreement
referred to below
Two Penns Way
New Castle, DE 19720 [Date]
_____________
dt 146694
;
Kroger
As referenced in this 364-Day Credit Agreement:
KROGER CO – dex991.txt
{DESCRIPTION}364-DAY CREDIT AGREEMENT
{TEXT}
{PAGE}
Exhibit 99.1
364-DAY CREDIT AGREEMENT
Dated as of May 22, 2002
THE KROGER CO ., an Ohio corporation (the "Borrower"), the banks,
--------
financial institutions and other institutional lenders (the "Initial Lenders")
---------------
listed on the signature pages hereof,
_____________
Kroger Co – delivered by hand or overnight courier service, mailed
or sent by telecopy, as follows:
(a) If to the Borrower, to it at The Kroger Co ., 1014 Vine
Street, Cincinnati, Ohio 45202, Attention of Mr. Scott M. Henderson
(Telecopy No. (513) 762-4454); with a copy to Mr.
_____________
KROGER CO – hereto have caused this
Agreement to be executed by their respective officers thereunto duly authorized,
as of the date first above written.
THE KROGER CO .
By __________________________
Title:
CITIBANK, N.A., as Administrative Agent and as
Paying Agent
By __________________________
Title:
JPMORGAN CHASE BANK, as
Administrative Agent
_____________
KROGER CO – By _________________________________
Title:
$2,841,000 HIBERNIA BANK
By _________________________________
Title:
$1,250,000,000 Total of Commitments
46
{PAGE}
SCHEDULE I
THE KROGER CO .
364-DAY CREDIT AGREEMENT
APPLICABLE LENDING OFFICES
{TABLE}
{CAPTION}
Name of Initial Lenders Domestic Lending Office Eurodollar Lending Office
------------------------------------------------------------------------------------------------
{S} {C} {C}
_____________
Kroger Co – HIBERNIA BANK
{/TABLE}
4
{PAGE}
SCHEDULE 3.01(b)
DISCLOSED LITIGATION
On November 29, 2001, a lawsuit titled Wade, et al. v. The Kroger Co ., et al.,
was filed in the U.S. District Court, Western District of Kentucky, Louisville
Division, against The Kroger Co. The complaint,
_____________
dt 107468
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – Fiscal Quarter, such Fiscal
--------------
Quarter and the three preceding Fiscal Quarters.
"S&P" means Standard & Poor's Ratings Group, a division of The
---
McGraw-Hill Companies, Inc .
12
{PAGE}
"Subsidiary" of any Person means any corporation, partnership, joint
----------
venture, limited liability company, trust or estate of which (or in
_____________
dt 311591
;
AmSouth Bank
As referenced in this 364-Day Credit Agreement:
AMSOUTH BANK
– 000 KBC BANK, N.V.
By _________________________________
Title:
45
{PAGE}
$7,102,000 PNC BANK, NATIONAL ASSOCIATION
By _________________________________
Title:
$10,000,000 AMSOUTH BANK
By _________________________________
Title:
$2,841,000 HIBERNIA BANK
By _________________________________
Title:
$1,250,000,000 Total of Commitments
46
{PAGE}
SCHEDULE I
_____________
AMSOUTH BANK – CO.
364-DAY CREDIT AGREEMENT
APPLICABLE LENDING OFFICES
{TABLE}
{CAPTION}
Name of Initial Lenders Domestic Lending Office Eurodollar Lending Office
------------------------------------------------------------------------------------------------
{S} {C} {C}
AMSOUTH BANK 315 Deaderick Street 315 Deaderick Street
Nashville, TN 37237 Nashville, TN 37237
Betty Parker Betty Parker
Tel: (615) 790-4405 Tel: (615)
_____________
dt 215607
;
More... |
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Full Doc
| 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (231K)
Doc #272748: Click preview link for longer preview.
$2,000,000,000
364-DAY CREDIT AGREEMENT
among
VIACOM INC.,
VIACOM INTERNATIONAL INC.,
THE SUBSIDIARY BORROWERS PARTIES HERETO,
THE LENDERS NAMED HEREIN,
THE CHASE MANHATTAN BANK,
as Administrative Agent,
SALOMON SMITH BARNEY INC.,
as Syndication Agent, and
FLEET NATIONAL BANK AND BANK OF AMERICA, N.A.,
as Co-Documentation Agents
Dated as of March 7, 2001
--------------------------------------------------------------------------------
JP MORGAN, A DIVISION OF CHASE SECURITIES INC.
and
SALOMON SMITH BARNEY INC.,
as Joint Lead Arrangers
JP MORGAN, A DIVISION OF CHASE SECURITIES INC.,
as Sole Bookrunner
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I DEFINITIONS........................................................1
SECTION 1.1. Defined Terms...........................................1
SECTION 1.2. Terms Generally........................................13
ARTICLE II THE CREDITS......................................................15
SECTION 2.1. Commitments............................................15
SECTION 2.2. Loans..................................................15
SECTION 2.3. Revolving Credit Borrowing Procedure...................15
SECTION 2.4. Repayment of Loans.....................................16
SECTION 2.5. Conversion and Continuation Options....................16
SECTION 2.6. Fees...................................................16
SECTION 2.7. Interest on Loans; Eurodollar Tranches; Etc............17
SECTION 2.8. Default Interest.......................................18
SECTION 2.9. Alternate Rate of Interest.............................18
SECTION 2.10. Termination, Reduction and Increase of Commitments.....18
SECTION 2.11. Optional Prepayments of Loans..........................20
SECTION 2.12. Reserve Requirements; Change in Circumstances..........20
SECTION 2.13. Indemnity..............................................22
SECTION 2.14. Pro Rata Treatment; Funding Matters; Evidence of
Debt ..................................................22
SECTION 2.15. Sharing of Setoffs.....................................24
SECTION 2.16. Payments...............................................24
SECTION 2.17. Taxes..................................................25
SECTION 2.18. Termination or Assignment of Commitments Under
Certain Circumstances .................................27
ARTICLE III REPRESENTATIONS AND WARRANTIES..................................27
SECTION 3.1. Corporate Existence....................................28
SECTION 3.2. Financial Condition....................................28
{PAGE}
SECTION 3.3. Litigation.............................................28
SECTION 3.4. No Breach, etc.........................................28
SECTION 3.5. Corporate Action.......................................29
SECTION 3.6. Approvals..............................................29
SECTION 3.7. ERISA..................................................29
SECTION 3.8. Taxes..................................................29
SECTION 3.9. Investment Company Act.................................30
SECTION 3.10. Environmental..........................................30
SECTION 3.11. Material Subsidiaries..................................30
ARTICLE IV CONDITIONS OF EFFECTIVENESS AND LENDING..........................30
SECTION 4.1. Effectiveness..........................................30
SECTION 4.2. Initial Loans to Subsidiary Borrowers..................31
SECTION 4.3. All Credit Events......................................31
ARTICLE V COVENANTS.........................................................32
SECTION 5.1. Financial Statements...................................32
SECTION 5.2. Corporate Existence, Etc...............................34
SECTION 5.3. Insurance..............................................35
SECTION 5.4. Prohibition of Fundamental Changes.....................35
SECTION 5.5. Limitation on Liens....................................36
SECTION 5.6. Limitation on Subsidiary Indebtedness..................36
SECTION 5.7. Consolidated Coverage Ratio............................37
SECTION 5.8. Use of Proceeds........................................37
SECTION 5.9. Transactions with Affiliates...........................37
ARTICLE VI EVENTS OF DEFAULT................................................38
ARTICLE VII THE AGENTS......................................................40
ARTICLE VIII GUARANTEES.....................................................42
SECTION 8.1. Viacom Guarantee.......................................42
ii
{PAGE}
SECTION 8.2. Viacom International Guarantee.........................44
ARTICLE IX MISCELLANEOUS....................................................47
SECTION 9.1. Notices................................................47
SECTION 9.2. Survival of Agreement..................................48
SECTION 9.3. Binding Effect.........................................48
SECTION 9.4. Successors and Assigns.................................48
SECTION 9.5. Expenses; Indemnity....................................52
SECTION 9.6. Right of Setoff........................................53
SECTION 9.7. APPLICABLE LAW.........................................53
SECTION 9.8. Waivers; Amendment.....................................53
SECTION 9.9. Entire Agreement.......................................54
SECTION 9.10. Waiver of Jury Trial...................................54
SECTION 9.11. Severability...........................................54
SECTION 9.12. Counterparts...........................................54
SECTION 9.13. Headings...............................................54
SECTION 9.14. Jurisdiction; Consent to Service of Process............54
SECTION 9.15. Confidentiality........................................55
SECTION 9.16. Waiver of Notice of Termination Period.................56
iii
{PAGE}
ANNEXES
Annex I Pricing Grid
EXHIBITS
Exhibit A Administrative Questionnaire
Exhibit B-1 Form of Revolving Credit Borrowing Request
Exhibit B-2 Form of Subsidiary Borrower Designation
Exhibit B-3 Form of Subsidiary Borrower Request
Exhibit C Form of Assignment and Acceptance
Exhibit D Form of Confidentiality Agreement
Exhibit E Form of Closing Certificate
Exhibit F Form of New Lender Supplement
Exhibit G Form of Commitment Increase Letter
SCHEDULES
Schedule 1.1 Commitments; Addresses for Notices
Schedule 1.1(a) Guarantees
Schedule 5.6 Subsidiary Indebtedness
iv
{PAGE}
364-DAY CREDIT AGREEMENT entered into as of March 7, 2001, among
VIACOM INC., a Delaware corporation ("Viacom"), each Subsidiary Borrower (as
herein defined); VIACOM INTERNATIONAL INC., a Delaware corporation ("Viacom
International"); the lenders whose names appear on Schedule 1.1 hereto or who
subsequently become parties hereto as provided herein (the "Lenders"); THE CHASE
MANHATTAN BANK, a New York banking corporation ("Chase"), as administrative
agent for the Lenders; SALOMON SMITH BARNEY INC., a New York corporation, as
syndication agent for the Lenders (in such capacity, the "Syndication Agent");
and FLEET NATIONAL BANK, a national banking corporation, and BANK OF AMERICA,
N.A., a national banking corporation, as co-documentation agents for the Lenders
(in such capacity, the "Co-Documentation Agents").
W I T N E S S E T H :
WHEREAS, Viacom has requested that the Lenders provide extensions of
credit to it and to certain Subsidiary Borrowers to be used for general
corporate purposes (including, without limitation, acquisitions and commercial
paper backup), which extensions of credit shall enable the Borrowers (as herein
defined) to borrow loans in an aggregate amount not to exceed $2.0 billion
(except as increased or reduced pursuant to Section 2.10) on a revolving credit
basis on and after the Closing Date (as herein defined) and prior to the
Revolving Credit Maturity Date (as herein defined); and
WHEREAS, the Lenders are willing to extend credit to the Borrowers
on the terms and subject to the conditions herein set forth;
NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein, the parties hereto hereby agree as follows:
ARTICLE I
DEFINITIONS
SECTION 1.1. Defined Terms. As used in this Agreement, the following
terms shall have the meanings specified below:
"ABR Loan" shall mean any Loan bearing interest at a rate determined
by reference to the Alternate Base Rate in accordance with the provisions of
Article II.
"Administrative Agent" shall mean Chase, together with its
affiliates, as an arranger of the Commitments and as the administrative agent
for the Lenders under this Agreement, and any successor thereto pursuant to
Article VII.
"Administrative Agent Fee Letter" shall mean the Fee Letter with
respect to this Agreement between Viacom and the Administrative Agent, as
amended, supplemented or otherwise modified from time to time.
"Administrative Agent's Fees" shall have the meaning assigned to
such term in Section 2.6(b).
{PAGE}
2
"Administrative Questionnaire" shall mean an Administrative
Questionnaire in the form of Exhibit A hereto.
"Affiliate" shall mean, as to Viacom, any Person which directly or
indirectly controls, is under common control with or is controlled by Viacom. As
used in this definition, "control" (including, with correlative meanings,
"controlled by" and "under common control with") shall mean possession, directly
or indirectly, of power to direct or cause the direction of management or
policies (whether through ownership of securities or partnership or other
ownership interests, by contract or otherwise); provided that, in any event, any
Person which owns directly or indirectly 10% or more of the securities having
ordinary voting power for the election of directors or other governing body of a
corporation or 10% or more of the partnership or other ownership interests of
any other Person (other than as a limited partner of such other Person) will be
deemed to control such corporation or other Person. Notwithstanding the
foregoing, (a) no individual shall be deemed to be an Affiliate of Viacom solely
by reason of his or her being an officer, director or employee of Viacom or any
of its Subsidiaries and (b) Viacom and Viacom International and their
Subsidiaries shall not be deemed to be Affiliates of each other, unless
expressly stated to the contrary.
"Agents" shall mean the collective reference to the Administrative
Agent, the Co-Documentation Agents, the Joint Lead Arrangers, the Sole
Bookrunner and the Syndication Agent.
"Agreement" shall mean this 364-Day Credit Agreement, as amended,
supplemented or otherwise modified from time to time.
"Alternate Base Rate" shall mean, for any day, a rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greater of
(a) the Prime Rate in effect on such day and (b) the Federal Funds Effective
Rate in effect on such day plus 1/2 of 1%. For purposes hereof, "Prime Rate"
shall mean the rate of interest per annum publicly announced from time to time
by the Lender serving as the Administrative Agent as its prime rate in effect at
its principal office in New York City; each change in the Prime Rate shall be
effective on the date such change is publicly announced as effective; and
"Federal Funds Effective Rate" shall mean, for any day, the weighted average of
the rates on overnight Federal funds transactions with members of the Federal
Reserve System arranged by Federal funds brokers, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day which is a Business Day, the average of the
quotations for the day of such transactions received by the Administrative Agent
from three Federal funds brokers of recognized standing selected by it. If for
any reason the Administrative Agent shall have determined (which determination
shall be conclusive absent manifest error) that it is unable to ascertain the
Federal Funds Effective Rate for any reason, including the inability or failure
of the Administrative Agent to obtain sufficient quotations in accordance with
the terms thereof, the Alternate Base Rate shall be the Prime Rate until the
circumstances giving rise to such inability no longer exist. Any change in the
Alternate Base Rate due to a change in the Prime Rate or the Federal Funds
Effective Rate shall be effective on the effective date of such change in the
Prime Rate or the Federal Funds Effective Rate, respectively.
"Applicable Facility Fee Rate" shall mean the "Applicable Facility
Fee Rate" determined in accordance with the Pricing Grid set forth in Annex I
272748
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – NATIONAL BANK AND BANK OF AMERICA, N.A.,
as Co-Documentation Agents
Dated as of March 7, 2001
--------------------------------------------------------------------------------
JP MORGAN, A DIVISION OF CHASE SECURITIES INC .
and
SALOMON SMITH BARNEY INC.,
as Joint Lead Arrangers
JP MORGAN, A DIVISION OF CHASE SECURITIES INC.,
as Sole Bookrunner
{PAGE}
TABLE
_____________
CHASE SECURITIES INC – 2001
--------------------------------------------------------------------------------
JP MORGAN, A DIVISION OF CHASE SECURITIES INC.
and
SALOMON SMITH BARNEY INC.,
as Joint Lead Arrangers
JP MORGAN, A DIVISION OF CHASE SECURITIES INC .,
as Sole Bookrunner
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I DEFINITIONS........................................................1
SECTION 1.1. Defined Terms...........................................1
SECTION 1.2. Terms
_____________
Chase
Securities Inc – Period to but excluding the last day of such Interest
Period.
{PAGE}
9
"Joint Lead Arrangers" shall mean JP Morgan, a division of Chase
Securities Inc ., a New York corporation, and Salomon Smith Barney Inc., a New
York corporation.
"Lenders" shall have the meaning assigned to such term
_____________
Chase
Securities Inc – mean Standard & Poor's Ratings Services.
"SEC" shall mean the Securities and Exchange Commission.
"Sole Bookrunner" shall mean JP Morgan, a division of Chase
Securities Inc ., a New York corporation.
"SPC" shall have the meaning specified in Section 9.4(i).
"Subsidiary" shall mean, for any Person (the "
_____________
Chase Securities
Inc – Expenses; Indemnity.
(a) Viacom agrees to pay all reasonable legal and other
out-of-pocket expenses incurred by JP Morgan, a division of Chase Securities
Inc ., in its capacity as a Joint Lead Arranger and in its capacity as Sole
Bookrunner, and the Administrative Agent and their respective
_____________
dt 212598
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK NV – Yoshiro Niiro
Title: General Manager
SUNTRUST BANK, as a Lender,
By: /s/ W. David Wisdom
----------------------------------------
Name: W. David Wisdom
Title: Vice President
{PAGE}
ABN AMRO BANK NV , as a Lender,
By: /s/ David Carrington
----------------------------------------
Name: David Carrington
Title: Group Vice President
By: /s/ Thomas Cha
----------------------------------------
Name: Thomas Cha
Title:
_____________
dt 169570
;
Blockbuster
As referenced in this 364-Day Credit Agreement:
Blockbuster
Inc – and an assignee, and accepted by the Administrative
Agent, in the form of Exhibit C.
"Blockbuster Event" means the sale or deconsolidation of Blockbuster
Inc . from Viacom, which sale or deconsolidation shall be substantially
non-recourse to Viacom and Viacom International.
"Board" shall mean the Board of
_____________
dt 322616
;
|
Citibank
As referenced in this 364-Day Credit Agreement:
Citibank, N.A. – 26, 1997 (as amended,
restated, supplemented or otherwise modified), among Viacom, as the borrower,
the banks named therein, The Bank of New York, Citibank, N.A. , Morgan Guaranty
Trust Company of New York, Bank of America NT&SA and The Chase Manhattan Bank,
as managing agents, The Bank
_____________
Citibank,
N.A. – New York, Bank of America NT&SA and The Chase Manhattan Bank,
as managing agents, The Bank of New York, as documentation agent, Citibank,
N.A. , as the administrative agent, and JP Morgan Securities Inc. and Bank of
America NT&SA, as the syndication agents; (b) $1,500,
_____________
Citibank N.A. – whether tangible or
intangible, including, without limitation, Capital Stock.
"Rating Agencies" shall mean S&P and Moody's.
"Reference Banks" shall mean Chase, Citibank N.A. and Bank of
America, N.A.
"Register" shall have the meaning assigned to such term in Section
9.4(d).
{PAGE}
11
"
_____________
CITIBANK, N.A. – N.A., as Co-Documentation
Agents and as a Lender
By: /s/ Thomas J. Kane
----------------------------------------
Name: Thomas J. Kane
Title: Vice President
{PAGE}
CITIBANK, N.A. , as a Lender,
By: /s/ Elizabeth H. Minnella
----------------------------------------
Name: Elizabeth H. Minnella
Title: Vice President
THE SUMITOMO BANK, LIMITED, as a Lender,
_____________
dt 177539
;
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364-Day Credit Agreement
364-Day Credit Agreement (221K)
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$500,000,000
364-DAY CREDIT AGREEMENT
among
INFINITY BROADCASTING CORPORATION,
THE SUBSIDIARY BORROWERS PARTIES HERETO,
THE LENDERS NAMED HEREIN,
THE CHASE MANHATTAN BANK,
as Administrative Agent,
FLEET NATIONAL BANK and BANK OF AMERICA, N.A.,
as Co-Syndication Agents
and
BANK OF NEW YORK,
as Documentation Agent,
Dated as of May 3, 2000
--------------------------------------------------------------------------------
CHASE SECURITIES INC. and FLEETBOSTON ROBERTSON STEPHENS INC.,
as Joint Lead Arrangers and Joint Book Managers
BANK OF AMERICA, N.A. and BANK OF NEW YORK,
as Arrangers
{PAGE}
TABLE OF CONTENTS
-----------------
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I.
DEFINITIONS......................................................................... 1
SECTION 1.1. Defined Terms.......................................................... 1
SECTION 1.2. Terms Generally........................................................ 13
ARTICLE II.
THE CREDITS......................................................................... 14
SECTION 2.1. Commitments............................................................ 14
SECTION 2.2. Loans.................................................................. 14
SECTION 2.3. Revolving Credit Borrowing Procedure................................... 15
SECTION 2.4. Repayment of Loans..................................................... 15
SECTION 2.5. Conversion and Continuation Options.................................... 15
SECTION 2.6. Fees................................................................... 16
SECTION 2.7. Interest on Loans; Eurodollar Tranches; Etc............................ 16
SECTION 2.8. Default Interest....................................................... 17
SECTION 2.9. Alternate Rate of Interest............................................. 17
SECTION 2.10. Termination, Reduction and Increase of Commitments.................... 17
SECTION 2.11. Optional Prepayments of Loans......................................... 19
SECTION 2.12. Reserve Requirements.................................................. 19
SECTION 2.13. Indemnity............................................................. 20
SECTION 2.14. Pro Rata Treatment; Funding Matters; Evidence of Debt................. 21
SECTION 2.15. Sharing of Setoffs.................................................... 22
SECTION 2.16. Payments.............................................................. 23
SECTION 2.17. Taxes................................................................. 23
SECTION 2.18. Termination or Assignment of Commitments Under Certain Circumstances.. 24
ARTICLE III.
REPRESENTATIONS AND WARRANTIES...................................................... 25
SECTION 3.1. Corporate Existence.................................................... 25
SECTION 3.2. Financial Condition.................................................... 25
SECTION 3.3. Litigation............................................................. 26
SECTION 3.4. No Breach, etc......................................................... 26
SECTION 3.5. Corporate Action....................................................... 26
SECTION 3.6. Approvals.............................................................. 27
SECTION 3.7. ERISA.................................................................. 27
SECTION 3.8. Taxes.................................................................. 27
SECTION 3.9. Investment Company Act................................................. 27
SECTION 3.10. Hazardous Materials................................................... 27
SECTION 3.11. Material Subsidiaries................................................. 27
{/TABLE}
i
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{TABLE}
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SECTION 3.12. No Material Misstatements............................................ 27
SECTION 3.13. Ownership of Property................................................ 27
SECTION 3.14. Intellectual Property................................................ 28
SECTION 3.15. FCC Matters.......................................................... 28
ARTICLE IV.
CONDITIONS OF EFFECTIVENESS AND LENDING............................................ 28
SECTION 4.1. Effectiveness......................................................... 28
SECTION 4.2. Initial Loans to Subsidiary Borrowers................................. 28
SECTION 4.3. All Credit Events..................................................... 29
ARTICLE V.
COVENANTS.......................................................................... 29
SECTION 5.1. Financial Statements.................................................. 29
SECTION 5.2. Corporate Existence, Etc.............................................. 31
SECTION 5.3. Insurance............................................................. 32
SECTION 5.4. Prohibition of Fundamental Changes.................................... 32
SECTION 5.5. Limitation on Liens................................................... 33
SECTION 5.6. Limitation on Subsidiary Indebtedness................................. 35
SECTION 5.7. Consolidated Leverage Ratio........................................... 35
SECTION 5.8. Consolidated Coverage Ratio........................................... 35
SECTION 5.9. Use of Proceeds....................................................... 35
SECTION 5.10. Transactions with Affiliates......................................... 35
ARTICLE VI.
EVENTS OF DEFAULT.................................................................. 36
ARTICLE VII.
THE AGENTS......................................................................... 38
ARTICLE VIII.
GUARANTEE.......................................................................... 40
SECTION 8.1. Guarantee............................................................. 40
SECTION 8.2. No Subrogation, etc................................................... 40
SECTION 8.3. Amendments, etc. with respect to the Subsidiary Borrower Obligations.. 41
SECTION 8.4. Guarantee Absolute and Unconditional.................................. 41
SECTION 8.5. Reinstatement......................................................... 42
SECTION 8.6. Payments.............................................................. 42
ARTICLE IX.
MISCELLANEOUS...................................................................... 42
SECTION 9.1. Notices............................................................... 42
SECTION 9.2. Survival of Agreement................................................. 43
{/TABLE}
ii
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{S} {C}
SECTION 9.3. Binding Effect................................ 43
SECTION 9.4. Successors and Assigns........................ 43
SECTION 9.5. Expenses; Indemnity........................... 46
SECTION 9.6. Right of Setoff............................... 47
SECTION 9.7. APPLICABLE LAW................................ 47
SECTION 9.8. Waivers; Amendment............................ 47
SECTION 9.9. Entire Agreement.............................. 48
SECTION 9.10. Waiver of Jury Trial......................... 48
SECTION 9.11. Severability................................. 48
SECTION 9.12. Counterparts................................. 48
SECTION 9.13. Headings..................................... 48
SECTION 9.14. Jurisdiction; Consent to Service of Process.. 48
SECTION 9.15. Confidentiality.............................. 49
{/TABLE}
EXHIBITS
--------
Exhibit A Administrative Questionnaire
Exhibit B-1 Form of Revolving Credit Borrowing Request
Exhibit B-2 Form of Subsidiary Borrower Designation
Exhibit B-3 Form of Subsidiary Borrower Request
Exhibit C Form of Assignment and Acceptance
Exhibit D Form of Confidentiality Agreement
Exhibit E Form of Closing Certificate
Exhibit F Form of New Lender Supplement
Exhibit G Form of Commitment Increase Letter
SCHEDULES
---------
Schedule 1.1 Commitments; Addresses for Notices
Schedule 3.11 Material Subsidiaries
Schedule 5.5(m) Certain Infinity Assets
iii
{PAGE}
364-DAY CREDIT AGREEMENT entered into as of May 3, 2000, among
INFINITY BROADCASTING CORPORATION, a Delaware corporation ("Infinity"), each
Subsidiary Borrower (as herein defined); the lenders whose names appear on
Schedule 1.1 hereto or who subsequently become parties hereto as provided herein
(the "Lenders"); THE CHASE MANHATTAN BANK, a New York banking corporation
("Chase"), as administrative agent for the Lenders, FLEET NATIONAL BANK , a
national banking corporation, and BANK OF AMERICA, N.A., a national banking
association, each as co-syndication agent for the Lenders (in such capacity, the
"Co-Syndication Agents"); BANK OF NEW YORK, a New York banking corporation, as
documentation agent for the Lenders (in such capacity, the "Documentation
Agent"); and.
W I T N E S S E T H :
- - - - - - - - - -
WHEREAS, Infinity has requested that the Lenders provide extensions of
credit to it and to certain Subsidiary Borrowers to be used for general
corporate purposes (including, without limitation, acquisitions and commercial
paper backup), which extensions of credit shall enable the Borrowers (as herein
defined) to borrow loans in an aggregate amount not to exceed $500 million on a
revolving credit basis on and after the Closing Date (as herein defined) and
prior to the Revolving Credit Maturity Date (as herein defined); and
WHEREAS, the Lenders are willing to extend credit to the Borrowers on
the terms and subject to the conditions herein set forth;
NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, the parties hereto hereby agree as follows:
ARTICLE I.
DEFINITIONS
SECTION 1.1. Defined Terms. As used in this Agreement, the following
terms shall have the meanings specified below:
"ABR Loan" shall mean any Loan bearing interest at a rate determined
by reference to the Alternate Base Rate in accordance with the provisions of
Article II.
"Administrative Agent" shall mean Chase, together with its affiliates,
as an arranger of the Commitments and as the administrative agent for the
Lenders under this Agreement, and any successor thereto pursuant to Article VII.
"Administrative Agent Fee Letter" shall mean the Fee Letter with
respect to this Agreement between Infinity and the Administrative Agent, as
amended, supplemented or otherwise modified from time to time.
"Administrative Agent's Fees" shall have the meaning assigned to such
term in Section 2.6(b).
{PAGE}
2
"Administrative Questionnaire" shall mean an Administrative
Questionnaire in the form of Exhibit A hereto.
"Affiliate" shall mean, as to Infinity, any Person which directly or
indirectly controls, is under common control with or is controlled by Infinity.
As used in this definition, "control" (including, with correlative meanings,
"controlled by" and "under common control with") shall mean possession, directly
or indirectly, of power to direct or cause the direction of management or
policies (whether through ownership of securities or partnership or other
ownership interests, by contract or otherwise); provided that, in any event, any
Person which owns directly or indirectly 10% or more of the securities having
ordinary voting power for the election of directors or other governing body of a
corporation or 10% or more of the partnership or other ownership interests of
any other Person (other than as a limited partner of such other Person) will be
deemed to control such corporation or other Person. Notwithstanding the
foregoing, (a) no individual shall be deemed to be an Affiliate of Infinity
solely by reason of his or her being an officer, director or employee of
Infinity or any of its Subsidiaries and (b) CBS, or following the consummation
of the Viacom Merger, Viacom and Infinity and their Subsidiaries shall not be
deemed to be Affiliates of each other, unless expressly stated to the contrary.
"Agents" shall mean the collective reference to the Administrative
Agent, the Joint Lead Arrangers and Joint Book Managers, the Arrangers, the
Documentation Agent and the Co-Syndication Agents.
"Agreement" shall mean this Credit Agreement, as amended, supplemented
or otherwise modified from time to time.
"Alternate Base Rate" shall mean, for any day, a rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to the greater of
(a) the Prime Rate in effect on such day and (b) the Federal Funds Effective
Rate in effect on such day plus 1/2 of 1%. For purposes hereof, "Prime Rate"
shall mean the rate of interest per annum publicly announced from time to time
by the Lender serving as the Administrative Agent as its prime rate in effect at
its principal office in New York City; each change in the Prime Rate shall be
effective on the date such change is publicly announced as effective; and
"Federal Funds Effective Rate" shall mean, for any day, the weighted average of
the rates on overnight Federal funds transactions with members of the Federal
Reserve System arranged by Federal funds brokers, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day which is a Business Day, the average of the
quotations for the day of such transactions received by the Administrative Agent
from three Federal funds brokers of recognized standing selected by it. If for
any reason the Administrative Agent shall have determined (which determination
shall be conclusive absent manifest error) that it is unable to ascertain the
Federal Funds Effective Rate for any reason, including the inability or failure
of the Administrative Agent to obtain sufficient quotations in accordance with
the terms thereof, the Alternate Base Rate shall be the Prime Rate until the
circumstances giving rise to such inability no longer exist. Any change in the
Alternate Base Rate due to a change in the Prime Rate or the Federal Funds
Effective Rate shall be effective on the effective date of such change in the
Prime Rate or the Federal Funds Effective Rate, respectively.
"Applicable Commitment Fee Rate" shall mean the "Applicable Commitment
Fee Rate" determined in accordance with the Pricing Grid set forth in Annex I
hereto.
"Applicable Eurodollar Margin" shall mean the "Applicable Eurodollar
Margin" determined in accordance with the Pricing Grid set forth in Annex I
272823
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – BANK OF AMERICA, N.A.,
as Co-Syndication Agents
and
BANK OF NEW YORK,
as Documentation Agent,
Dated as of May 3, 2000
--------------------------------------------------------------------------------
CHASE SECURITIES INC . and FLEETBOSTON ROBERTSON STEPHENS INC.,
as Joint Lead Arrangers and Joint Book Managers
BANK OF AMERICA, N.A. and BANK OF NEW
_____________
Chase Securities Inc – day of such Interest
Period.
"Interim Certificate" shall have the meaning assigned to such term in
Annex I hereto.
"Lead Arrangers" shall mean Chase Securities Inc ., a New York
corporation, and FleetBoston Robertson Stephens Inc., a national banking
corporation.
"Lenders" shall have the meaning assigned to such term
_____________
Chase Securities
Inc – the
Lenders.
SECTION 9.5. Expenses; Indemnity. (a) Infinity agrees to pay all
reasonable legal and other out-of-pocket expenses incurred by Chase Securities
Inc ., in its capacity as a Lead Arranger, and the Administrative Agent and their
respective Affiliates in connection with the preparation, negotiation, execution
_____________
Chase Securities Inc – or in connection with the Loans made
hereunder, including, without limitation, the reasonable fees, charges and
disbursements of Simpson Thacher & Bartlett, counsel for Chase Securities Inc .,
in its capacity as a Lead Arranger, and the Administrative Agent , and, in
connection with any such enforcement or protection, the reasonable
_____________
dt 212602
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – Ciulla
---------------------
Name: John R. Ciulla
Title: Vice President
BARCLAYS BANK PLC, as a Lender
By:/s/ Daniele Iacovone
-----------------------
Name: Daniele Iacovone
Title: Director
CITIBANK, N.A. , as a Lender
By:/s/ Elizabeth H. Minnella
----------------------------
Name: Elizabeth H. Minnella
Title: Vice President
DEUTSCHE BANK A.G., NEW YORK BRANCH
_____________
dt 177550
;
|
Viacom
As referenced in this 364-Day Credit Agreement:
Viacom, Inc – the United
States of America, or an entity organized in or under the laws of the United
States of America.
"Viacom" shall mean Viacom, Inc ., a Delaware corporation.
"Viacom Merger" shall mean the merger between CBS and Viacom.
"Voting Capital Stock" shall mean securities or other ownership
_____________
dt 164238
;
BofA
As referenced in this 364-Day Credit Agreement:
BANK OF AMERICA, N.A. – INFINITY BROADCASTING CORPORATION,
THE SUBSIDIARY BORROWERS PARTIES HERETO,
THE LENDERS NAMED HEREIN,
THE CHASE MANHATTAN BANK,
as Administrative Agent,
FLEET NATIONAL BANK and BANK OF AMERICA, N.A. ,
as Co-Syndication Agents
and
BANK OF NEW YORK,
as Documentation Agent,
Dated as of May 3, 2000
--------------------------------------------------------------------------------
CHASE SECURITIES INC. and
_____________
BANK OF AMERICA, N.A. – Agent,
Dated as of May 3, 2000
--------------------------------------------------------------------------------
CHASE SECURITIES INC. and FLEETBOSTON ROBERTSON STEPHENS INC.,
as Joint Lead Arrangers and Joint Book Managers
BANK OF AMERICA, N.A. and BANK OF NEW YORK,
as Arrangers
{PAGE}
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-----------------
{TABLE}
{CAPTION}
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----
{S} {C}
ARTICLE I.
DEFINITIONS......................................................................... 1
SECTION 1.
_____________
BANK OF AMERICA, N.A. – CHASE MANHATTAN BANK, a New York banking corporation
("Chase"), as administrative agent for the Lenders, FLEET NATIONAL BANK , a
national banking corporation, and BANK OF AMERICA, N.A. , a national banking
association, each as co-syndication agent for the Lenders (in such capacity, the
"Co-Syndication Agents"); BANK OF NEW
_____________
Bank of America, N.A. – shall mean the "Applicable
Utilization Fee Rate" determined in accordance with the Pricing Grid set forth
in Annex I hereto.
"Arrangers" shall mean Bank of America, N.A. , a national banking
association, and Bank of New York, a New York banking corporation.
"Assignment and Acceptance" shall mean an assignment and
_____________
Bank of America, N.A. – hereof, among Infinity, as borrower, each subsidiary borrower,
the lenders party thereto, The Chase Manhattan Bank, as administrative agent,
Fleet National Bank and Bank of America, N.A. , each as co-syndication agent for
the Lenders, and Bank of New York, as documentation agent for the Lenders.
"GAAP" shall mean
_____________
dt 168634
;
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364-Day Credit Agreement (214K)
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THE CIT GROUP, INC.
---------------------------------------------------------
$3,670,000,000
364-DAY CREDIT AGREEMENT
Dated as of March 28, 2000
---------------------------------------------------------
CHASE SECURITIES INC., as Lead Arranger and Book Manager
THE CHASE MANHATTAN BANK,
as Administrative Agent
BARCLAYS BANK PLC,
as Syndication Agent
BANK OF AMERICA, N.A.,
as Syndication Agent
CITIBANK, N.A.,
as Syndication Agent
THE DAI-ICHI KANGYO BANK, LIMITED,
as Syndication Agent
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
SECTION 1. DEFINITIONS............................................................................................5
1.1. Defined Terms...................................................................................5
1.2. Other Definitional Provisions..................................................................15
SECTION 2. AMOUNT AND TERMS OF COMMITMENTS.......................................................................16
2.1. Commitments....................................................................................16
2.2. Revolving Credit Borrowing Procedure...........................................................18
2.3. Competitive Bid Borrowing Procedure............................................................19
2.4. Repayment of Loans; Evidence of Debt...........................................................21
2.5. Facility Fee; Administrative Agent's Fee.......................................................22
2.6. Utilization Fee................................................................................22
2.7. Extension of Termination Date..................................................................22
2.8. Termination or Reduction of Commitments........................................................24
2.9. Optional Prepayments of Revolving Credit Loans.................................................24
2.10. Conversion and Continuation Options............................................................24
2.11. Applicable Interest Rate Margins, Facility Fee Rate and Utilization Fee........................25
2.12. Minimum Amounts of Tranches....................................................................25
2.13. Interest Rates and Payment Dates...............................................................25
2.14. Computation of Interest and Fees...............................................................26
2.15. Inability to Determine Interest Rate...........................................................27
2.16. Pro Rata Treatment and Payments................................................................27
2.17. Illegality.....................................................................................28
2.18. Requirements of Law............................................................................28
2.19. Taxes 30
2.20. Indemnity......................................................................................32
2.21. Actions of Banks...............................................................................33
2.22. Lending Installations..........................................................................33
2.23. Removal of Banks...............................................................................33
2.24. Replacement of Banks...........................................................................34
SECTION 3. REPRESENTATIONS AND WARRANTIES........................................................................34
3.1. Financial Condition............................................................................34
3.2. No Change......................................................................................34
3.3. Corporate Existence; Compliance with Law; Significant Subsidiaries.............................34
3.4. Corporate Power; Authorization; Enforceable Obligations........................................35
3.5. No Legal Bar...................................................................................35
3.6. No Material Litigation.........................................................................35
3.7. No Default.....................................................................................35
3.8. Aggregation of the Representations and Warranties Relating to Net Worth........................35
3.9. Federal Regulations............................................................................36
{PAGE}
3.10. ERISA 36
3.11. Investment Company Act.........................................................................36
3.12. Purpose of Loans...............................................................................36
SECTION 4. CONDITIONS PRECEDENT..................................................................................36
4.1. Conditions to Initial Loans....................................................................36
4.2. Conditions to Each Loan........................................................................37
SECTION 5. AFFIRMATIVE COVENANTS.................................................................................37
5.1. Financial Statements...........................................................................38
5.2. Payment of Obligations.........................................................................39
5.3. Conduct of Business and Maintenance of Existence...............................................39
5.4. Notices........................................................................................39
5.5. Status of Obligations..........................................................................40
5.6. Maintenance of Property........................................................................40
5.7. Payment of Taxes...............................................................................40
5.8. Use of Proceeds................................................................................40
SECTION 6. NEGATIVE COVENANTS....................................................................................41
6.1. Negative Pledge................................................................................41
6.2. Consolidations, Mergers and Sales of Assets....................................................43
6.3. Net Worth......................................................................................43
SECTION 7. EVENTS OF DEFAULT.....................................................................................43
SECTION 8. THE AGENTS............................................................................................45
8.1. Appointment....................................................................................45
8.2. Delegation of Duties...........................................................................46
8.3. Exculpatory Provisions.........................................................................46
8.4. Reliance by Administrative Agent...............................................................46
8.5. Notice of Default..............................................................................47
8.6. Non-Reliance on Administrative Agent and Other Banks...........................................47
8.7. Indemnification................................................................................47
8.8. Administrative Agent in Its Individual Capacity................................................48
8.9. Successor Administrative Agent.................................................................48
SECTION 9. MISCELLANEOUS.........................................................................................49
9.1. Amendments and Waivers.........................................................................49
9.2. Notices........................................................................................49
9.3. No Waiver; Cumulative Remedies.................................................................50
9.4. Survival of Representations and Warranties.....................................................50
9.5. Payment of Expenses and Taxes..................................................................50
{PAGE}
9.6. Successors and Assigns; Participations; Purchasing Banks.......................................51
9.7. Dissemination of Information; Confidentiality..................................................53
9.8. Adjustments....................................................................................54
9.9. Counterparts...................................................................................55
9.10. Severability...................................................................................55
9.11. Integration....................................................................................55
9.12. GOVERNING LAW..................................................................................55
9.13. Submission To Jurisdiction; Waivers............................................................55
9.14. WAIVERS OF JURY TRIAL..........................................................................56
SCHEDULES
I. Commitments and Bank Information
II. List of Significant Subsidiaries
EXHIBITS
A-1 Form of Revolving Credit Note
A-2 Form of Competitive Bid Note
B-1 Form of Opinion of Counsel to the Company
B-2 Form of Opinion of Simpson Thacher & Bartlett
C Form of Commitment Transfer Supplement
D-1 Form of Officer's Certificate
D-2 Form of Secretary's Certificate
E Form of Incumbency Certificate
F Form of Borrowing Notice
G Form of Competitive Bid Request
H Form of Notice of Competitive Bid Request
I Form of Competitive Bid
J Form of Competitive Bid Accept/Reject Letter
K Form of Exemption Certificate
{/TABLE}
{PAGE}
364-DAY CREDIT AGREEMENT, dated as of March 28, 2000, among
THE CIT GROUP, INC., a Delaware corporation (the "COMPANY"), the several banks
and other financial institutions from time to time on Schedule I to this
Agreement (the "BANKS"), CHASE SECURITIES INC., as sole arranger and book
manager (in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF AMERICA,
N.A., CITIBANK, N.A. and THE DAI-ICHI KANGYO BANK, LIMITED, as syndication
agents (in such capacity, the "SYNDICATION AGENTS") and THE CHASE MANHATTAN BANK
("CHASE"), as administrative agent (in such capacity, the "ADMINISTRATIVE
AGENT").
W I T N E S S E T H:
WHEREAS, the Company has requested $3,670,000,000 in senior
unsecured revolving credit facilities from the Banks for general corporate
purposes; and
WHEREAS, the Banks are willing to provide the requested senior
unsecured revolving credit facilities on the terms and conditions set forth
herein ;
NOW, THEREFORE, the parties hereto hereby agree as follows:
SECTION 1. DEFINITIONS
1.1. DEFINED TERMS
As used in this Agreement, the following terms shall have the
following meanings:
"ADDITIONAL BANK": as defined in subsection 2.1(c)(ii).
"ADDITIONAL BANK AGREEMENT": as defined in subsection
2.1(c)(ii).
"ADMINISTRATIVE AGENT": as defined in the preamble hereto.
"AFFILIATE": as to any Person, any other Person that directly,
or indirectly through one or more intermediaries, controls, is controlled by, or
is under common control with, such Person.
"AGENTS": the collective reference to the Administrative
Agent, the Syndication Agents and the Arranger.
"AGGREGATE AVAILABLE COMMITMENT": at any time, the excess, if
any, of (a) the Aggregate Commitment over (b) the aggregate principal amount of
all Loans then outstanding.
"AGGREGATE COMMITMENT": the aggregate amount of the Banks'
Commitments.
{PAGE}
"AGGREGATE FACILITIES COMMITMENT": the sum of (a) the
Aggregate Commitment PLUS (b) the 5-Year Aggregate Commitment.
"AGREEMENT": this 364-Day Credit Agreement, as amended,
supplemented or otherwise modified from time to time.
"AGREEMENT ACCOUNTING PRINCIPLES": GAAP applied in a manner
consistent with those principles used in the preparation of the financial
statements referred to in subsection 3.1.
"APPLICABLE EURODOLLAR MARGIN": as defined in subsection 2.11.
"APPLICABLE FACILITY FEE RATE": as defined in subsection 2.11.
"APPLICABLE MARGIN": as defined in subsection 2.11.
"APPLICABLE RATE": as defined in subsection 2.11.
"APPLICABLE UTILIZATION FEE RATE": as defined in subsection
2.11.
"ARRANGER": as defined in the preamble hereto.
"BANKS": as defined in the preamble hereto.
"BARCLAYS": Barclays Bank PLC.
"BASE RATE": a rate per annum (rounded upwards, if necessary,
to the next 1/16 of 1%) equal to the greater of (a) the Corporate Base Rate in
effect on such day, and (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1%. If for any reason the Administrative Agent shall have
determined (which determination shall be conclusive absent manifest error) that
it is unable to ascertain the Federal Funds Effective Rate for any reason,
including the inability of the Administrative Agent to obtain sufficient
quotations in accordance with the terms hereof, the Base Rate shall be
determined without regard to clause (b) of the first sentence of this definition
until the circumstances giving rise to such inability no longer exist. Any
change in the Base Rate due to a change in the Corporate Base Rate or the
Federal Funds Effective Rate shall be effective on the effective date of such
change in the Corporate Base Rate or the Federal Funds Effective Rate,
respectively. The Administrative Agent will give notice promptly to the Company
and the Banks of changes in the Base Rate.
"BASE RATE LOAN": any Revolving Credit Loan bearing interest
at a rate determined by reference to the Base Rate in accordance with Section 2.
"BOFA": Bank of America, N.A.
"BORROWING": a group of Loans of a single type made by the
Banks (or, in the case of a Competitive Bid Borrowing, by the Bank or Banks
whose Competitive Bids have been accepted pursuant to subsection 2.3) on a
single date and as to which a single
{PAGE}
Interest Period is in effect.
"BORROWING DATE": a date on which a Borrowing is made
hereunder.
"BUSINESS DAY": a day other than a Saturday, Sunday or other
day on which commercial banks in New York City are authorized or required by law
to close.
"CHASE": as defined in the preamble hereto.
"CITIBANK": Citibank, N.A.
"CLOSING DATE": the date on which the conditions precedent set
forth in subsection 4.1 are satisfied.
"CODE": the Internal Revenue Code of 1986, as amended from
time to time.
"COMMITMENT": as to any Bank, the obligation of such Bank to
make Revolving Credit Loans to the Company hereunder in an aggregate principal
amount at any one time outstanding not to exceed the amount set forth opposite
such Bank's name on Schedule I, as the same may be increased from time to time
in accordance with subsection 2.1(c) or decreased or terminated from time to
time in accordance with subsection 2.8.
"COMMITMENT INCREASE SUPPLEMENT": as defined in subsection
2.1(c)(ii).
"COMMITMENT PERCENTAGE": as to any Bank at any time, the
percentage of the Aggregate Commitment then constituted by such Bank's
Commitment, or, at any time after the Commitments shall have expired or
terminated, the percentage which the aggregate principal amount of such Bank's
Loans then outstanding constitutes of the aggregate principal amount of the
Loans then outstanding.
"COMMITMENT PERIOD": the period from and including the date
hereof to but not including the Termination Date or such earlier date on which
the Aggregate Commitment shall terminate as provided herein.
"COMMITMENT TRANSFER SUPPLEMENT": as defined in subsection
9.6(c) hereto.
"COMMONLY CONTROLLED ENTITY": an entity, whether or not
incorporated, which is under common control with the Company within the meaning
of Section 4001 of ERISA or is part of a group which includes the Company and
which is treated as a single employer under Section 414 of the Code.
"COMPETITIVE BID": an offer by a Bank to make a Competitive
Bid Loan pursuant to subsection 2.3.
"COMPETITIVE BID ACCEPT/REJECT LETTER": a notification made by
the Company pursuant to subsection 2.3(d) in the form of Exhibit J.
"COMPETITIVE BID BORROWING": a Borrowing consisting of a
Competitive Bid
{PAGE}
Loan or concurrent Competitive Bid Loans from the Bank or Banks
whose Competitive Bids for such Borrowing have been accepted by the Company
under the bidding procedure described in subsection 2.3.
"COMPETITIVE BID LOAN": a Loan made by a Bank to the Company
pursuant to the bidding procedure described in subsection 2.3. Each Competitive
Bid Loan shall be a Eurodollar Competitive Bid Loan or a Fixed Rate Loan.
"COMPETITIVE BID MATURITY DATE": as to each Competitive Bid
Loan, the maturity date specified by the Company for such Competitive Bid Loan
294009
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – EXHIBIT 10.2
EXECUTION COPY
================================================================================
THE CIT GROUP, INC.
---------------------------------------------------------
$3,670,000,000
364-DAY CREDIT AGREEMENT
Dated as of March 28, 2000
---------------------------------------------------------
CHASE SECURITIES INC ., as Lead Arranger and Book Manager
THE CHASE MANHATTAN BANK,
as Administrative Agent
BARCLAYS BANK PLC,
as Syndication Agent
BANK OF AMERICA,
_____________
CHASE SECURITIES INC – Delaware corporation (the "COMPANY"), the several banks
and other financial institutions from time to time on Schedule I to this
Agreement (the "BANKS"), CHASE SECURITIES INC ., as sole arranger and book
manager (in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF AMERICA,
N.A., CITIBANK, N.A.
_____________
CHASE SECURITIES INC – PAGE}
THE CHASE MANHATTAN BANK, as
Administrative Agent and as a Bank
By: /s/ Roger Parker
----------------------------------------
Name: Roger Parker
Title: Vice President
{PAGE}
CHASE SECURITIES INC ., as Arranger
By: /s/ R. Craig Tracy
----------------------------------------
Name: R. Craig Tracy
Title: Vice President
{PAGE}
BARCLAYS BANK PLC, as Syndication
Agent and
_____________
dt 243500
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK N.V.
– BANK, LTD., as
Syndication Agent and as a Bank
By: /s/ Nicholas A. Fiore
----------------------------------------
Name: Nicholas A. Fiore
Title: Assistant Vice President
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Parker H. Douglas
----------------------------------------
Name: Parker H. Douglas
Title: Group Vice President
By: /s/ Neil R. Stein
----------------------------------------
Name: Neil R. Stein
_____________
dt 237720
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – Book Manager
THE CHASE MANHATTAN BANK,
as Administrative Agent
BARCLAYS BANK PLC,
as Syndication Agent
BANK OF AMERICA, N.A.,
as Syndication Agent
CITIBANK, N.A. ,
as Syndication Agent
THE DAI-ICHI KANGYO BANK, LIMITED,
as Syndication Agent
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
SECTION
_____________
CITIBANK, N.A. – BANKS"), CHASE SECURITIES INC., as sole arranger and book
manager (in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF AMERICA,
N.A., CITIBANK, N.A. and THE DAI-ICHI KANGYO BANK, LIMITED, as syndication
agents (in such capacity, the "SYNDICATION AGENTS") and THE CHASE MANHATTAN BANK
("CHASE"),
_____________
Citibank, N.A. – which commercial banks in New York City are authorized or required by law
to close.
"CHASE": as defined in the preamble hereto.
"CITIBANK": Citibank, N.A.
"CLOSING DATE": the date on which the conditions precedent set
forth in subsection 4.1 are satisfied.
"CODE": the Internal Revenue Code
_____________
Citibank, N.A. – Credit Agreement, dated
as of March 28, 2000, among the Company, the banks parties thereto, Barclays
Bank PLC, Bank of America, N.A., Citibank, N.A. and The Dai-Ichi Kangyo Bank,
Limited, as syndication agents, and Chase, as administrative agent.
"FIXED RATE BORROWING": a Borrowing comprised of
_____________
CITIBANK, N.A. – AMERICA, N.A., as Syndication
Agent and as a Bank
By: /s/ Nelson D. Albrecht
----------------------------------------
Name: Nelson D. Albrecht
Title: Vice President
{PAGE}
CITIBANK, N.A. , as Syndication Agent and
as a Bank
By: /s/ Robert B. Goldstein
----------------------------------------
Name: Robert B. Goldstein
Title: Managing Director
{PAGE}
THE DAI-
_____________
dt 248951
;
|
UBS
As referenced in this 364-Day Credit Agreement:
UBS AG, – Vice President
{PAGE}
SOCIETE GENERALE BANK NY BRANCH
By: /s/ Charles D. Fischer, Jr.
----------------------------------------
Name: Charles D. Fischer, Jr.
Title: Vice President
{PAGE}
UBS AG, STAMFORD BRANCH
By: /s/ Gregory Raue
----------------------------------------
Name: Gregory Raue
Title: Director
By: /s/ Wilfred Saint
----------------------------------------
Name: Wilfred Saint
Title: Associate Director
{PAGE}
_____________
dt 238053
;
BofA
As referenced in this 364-Day Credit Agreement:
BANK OF AMERICA, N.A. – 2000
---------------------------------------------------------
CHASE SECURITIES INC., as Lead Arranger and Book Manager
THE CHASE MANHATTAN BANK,
as Administrative Agent
BARCLAYS BANK PLC,
as Syndication Agent
BANK OF AMERICA, N.A. ,
as Syndication Agent
CITIBANK, N.A.,
as Syndication Agent
THE DAI-ICHI KANGYO BANK, LIMITED,
as Syndication Agent
================================================================================
{PAGE}
TABLE OF CONTENTS
{
_____________
BANK OF AMERICA,
N.A. – I to this
Agreement (the "BANKS"), CHASE SECURITIES INC., as sole arranger and book
manager (in such capacity, the "ARRANGER"), BARCLAYS BANK PLC, BANK OF AMERICA,
N.A. , CITIBANK, N.A. and THE DAI-ICHI KANGYO BANK, LIMITED, as syndication
agents (in such capacity, the "SYNDICATION AGENTS") and THE CHASE
_____________
Bank of America, N.A. – LOAN": any Revolving Credit Loan bearing interest
at a rate determined by reference to the Base Rate in accordance with Section 2.
"BOFA": Bank of America, N.A.
"BORROWING": a group of Loans of a single type made by the
Banks (or, in the case of a Competitive Bid Borrowing,
_____________
Bank of America, N.A. – CREDIT AGREEMENT": the 5-Year Credit Agreement, dated
as of March 28, 2000, among the Company, the banks parties thereto, Barclays
Bank PLC, Bank of America, N.A. , Citibank, N.A. and The Dai-Ichi Kangyo Bank,
Limited, as syndication agents, and Chase, as administrative agent.
"FIXED RATE BORROWING": a
_____________
BANK OF AMERICA, N.A. – Vice President
{PAGE}
BARCLAYS BANK PLC, as Syndication
Agent and as a Bank
By: /s/ Douglas Bernegger
----------------------------------------
Name: Douglas Bernegger
Title: Director
{PAGE}
BANK OF AMERICA, N.A. , as Syndication
Agent and as a Bank
By: /s/ Nelson D. Albrecht
----------------------------------------
Name: Nelson D. Albrecht
Title: Vice President
{PAGE}
CITIBANK, N.
_____________
dt 235346
;
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| 2002 |
364-Day Credit Agreement
364-Day Credit Agreement (167K)
Doc #294022: Click preview link for longer preview.
CIT FINANCIAL LTD.,
the Company
and
ROYAL BANK OF CANADA,
as Administrative Agent
and
CANADIAN IMPERIAL BANK OF COMMERCE
and
THE CHASE MANHATTAN BANK OF CANADA,
as Syndication Agents
--------------------------------------------------------------------------------
$500,000,000
364-DAY CREDIT AGREEMENT
Dated as of March 27, 2001
--------------------------------------------------------------------------------
RBC DOMINION SECURITIES,
as Sole Arranger and Book Manager
{Page}
TABLE OF CONTENTS
ARTICLE 1
DEFINITIONS
Section 1.1 Defined Terms...............................................1
Section 1.2 Other Definitional Provisions...............................9
ARTICLE 2
AMOUNT AND TERMS OF COMMITMENTS
Section 2.1 Commitments.................................................9
Section 2.2 Borrowing Procedure.........................................9
Section 2.3 Repayment of Canadian Prime Rate Loans; Evidence of Debt...10
Section 2.4 Facility Fee; Administrative Agent's Fee...................11
Section 2.5 Utilization Fee............................................11
Section 2.6 Extension of Termination Date..............................11
Section 2.7 Termination or Reduction of Commitments....................13
Section 2.8 Optional Prepayments of Accommodations.....................14
Section 2.9 Applicable Interest Rate Margins, Facility Fee Rate and
Utilization Fee............................................14
Section 2.10 Interest Rates and Payment Dates...........................14
Section 2.11 Computation of Interest and Fees...........................15
Section 2.12 Pro Rata Treatment and Payments............................17
Section 2.13 Requirements of Law........................................18
Section 2.14 Taxes......................................................20
Section 2.15 Indemnity..................................................20
Section 2.16 Actions of Banks...........................................20
Section 2.17 Lending Installations......................................20
Section 2.18 Removal of Banks...........................................20
Section 2.19 Replacement of Banks.......................................21
ARTICLE 3
BANKERS' ACCEPTANCES
Section 3.1 Acceptances and Drafts.....................................22
Section 3.2 Form of Drafts.............................................22
Section 3.3 Procedure for Drawing......................................23
Section 3.4 Presigned Draft Forms......................................23
Section 3.5 Payment, Conversion or Renewal of Bankers' Acceptances.....24
Section 3.6 Circumstances Making Bankers' Acceptances Unavailable......25
(i)
{Page}
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
Section 4.1 Representations and Warranties.............................25
ARTICLE 5
CONDITIONS PRECEDENT
Section 5.1 Conditions to Initial Accommodations.......................27
Section 5.2 Conditions to Each Accommodation...........................28
ARTICLE 6
AFFIRMATIVE COVENANTS
Section 6.1 Payment of Obligations.....................................29
Section 6.2 Conduct of Business and Maintenance of Existence...........29
Section 6.3 Notices....................................................30
Section 6.4 Status of Obligations......................................31
Section 6.5 Payment of Taxes...........................................31
Section 6.6 Use of Proceeds............................................31
ARTICLE 7
NEGATIVE COVENANTS
Section 7.1 Negative Pledge............................................31
Section 7.2 Assignment.................................................34
ARTICLE 8
EVENTS OF DEFAULT
Section 8.1 Events of Default..........................................35
ARTICLE 9
THE AGENTS
Section 9.1 Appointment................................................38
Section 9.2 Delegation of Duties.......................................38
Section 9.3 Exculpatory Provisions.....................................38
Section 9.4 Reliance by Administrative Agent...........................39
Section 9.5 Notice of Default..........................................39
Section 9.6 Non-Reliance on Administrative Agent.......................39
Section 9.7 Indemnification............................................40
Section 9.8 Administrative Agent in Its Individual Capacity............41
Section 9.9 Successor Administrative Agent.............................41
(ii)
{Page}
ARTICLE 10
MISCELLANEOUS
Section 10.1 Amendments and Waivers.....................................41
Section 10.2 Notices....................................................42
Section 10.3 No Waiver; Cumulative Remedies.............................43
Section 10.4 Survival of Representations and Warranties.................43
Section 10.5 Payment of Expenses and Taxes..............................44
Section 10.6 Successors and Assigns; Participations; Purchasing Banks...44
Section 10.7 Dissemination of Information; Confidentiality..............47
Section 10.8 Adjustments................................................48
Section 10.9 Counterparts...............................................49
Section 10.10 Severability...............................................49
Section 10.11 Integration................................................49
Section 10.12 GOVERNING LAW..............................................49
Section 10.13 Submission To Jurisdiction; Waivers........................50
Section 10.14 WAIVERS OF JURY TRIAL......................................50
SCHEDULES
I Commitments and Bank Information
EXHIBITS
A-1 Form of Opinion of Counsel to the Company
A-2 Form of Opinion of Counsel to the Guarantor
A-3 Form of Opinion of Stikeman Elliott
B Form of Commitment Transfer Supplement
C-1 Form of Officer's Certificate
C-2 Form of Officer's Certificate
C-3 Form of Secretary's Certificate
D Form of Incumbency Certificate
E Form of Notice of Borrowing
F Form of Drawing Notice
G Form of Guaranty
(iii)
{Page}
364 - DAY CREDIT AGREEMENT
364-DAY CREDIT AGREEMENT, dated as of March 27, 2001, among CIT FINANCIAL
LTD., a corporation incorporated under the laws of Ontario, the several banks
and other financial institutions from time to time on Schedule I to this
Agreement (the "BANKS"), ROYAL BANK OF CANADA ("RBC"), as administrative agent
(in such capacity, the "ADMINISTRATIVE AGENT"), and CANADIAN IMPERIAL BANK OF
COMMERCE AND THE CHASE MANHATTAN BANK OF CANADA, as syndication agents (in such
capacity, the "SYNDICATION AGENTS").
RECITALS:
(a) The Company has requested $500,000,000 in senior unsecured revolving
credit facilities from the Banks for general corporate purposes; and
294022
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – Day Credit Agreement dated as of March
28, 2000 among the Guarantor, the lenders party thereto, The Chase Manhattan
Bank, as administrative agent, Chase Securities Inc as lead arranger and book
manager, Barclays Bank PLC, Bank of America, N.A., Citibank, N.A. and The
Dai-Ichi Kangyo
_____________
dt 243515
;
Citibank
As referenced in this 364-Day Credit Agreement:
Citibank, N.A. – Chase Manhattan
Bank, as administrative agent, Chase Securities Inc as lead arranger and book
manager, Barclays Bank PLC, Bank of America, N.A., Citibank, N.A. and The
Dai-Ichi Kangyo Bank, Limited, as syndication agents, as amended, modified,
supplemented or restated from time to time.
"CLOSING DATE"
_____________
dt 248960
;
BofA
As referenced in this 364-Day Credit Agreement:
Bank of America, N.A. – the lenders party thereto, The Chase Manhattan
Bank, as administrative agent, Chase Securities Inc as lead arranger and book
manager, Barclays Bank PLC, Bank of America, N.A. , Citibank, N.A. and The
Dai-Ichi Kangyo Bank, Limited, as syndication agents, as amended, modified,
supplemented or restated from time to
_____________
dt 235353
;
|
Bank of Montreal
As referenced in this 364-Day Credit Agreement:
BANK OF MONTREAL, – Title:
By:
---------------------------------
Name:
Title:
{Page}
-52-
THE CHASE MANHATTAN BANK,
TORONTO BRANCH
as a Bank
By:
---------------------------------
Name:
Title:
By:
---------------------------------
Name:
Title:
{Page}
-53-
BANK OF MONTREAL,
as Managing Agent and as a Bank
By:
---------------------------------
Name: B. Ciallella
Title: Director
THE BANK OF NOVA SCOTIA,
as Managing Agent and
_____________
Bank of Montreal – Ontario
M5X 1A4
Attention: Christine Chan
Telephone: (416) 216-4133
Facsimile: (416) 216-4161
======================================================= =======================
{/Table}
{Page}
-2-
{Table}
{Caption}
======================================================= =======================
LENDER COMMITMENT
------------------------------------------------------- -----------------------
{S} {C}
Bank of Montreal $40,000,000
First Canadian Place
24th Floor
Toronto, Ontario
M5X 1A1
Attention: Cam Landry
Vice President
Telephone: (416) 867-7784
Facsimile: (
_____________
dt 243172
;
Nova Scotia
As referenced in this 364-Day Credit Agreement:
BANK OF NOVA SCOTIA, – Title:
By:
---------------------------------
Name:
Title:
{Page}
-53-
BANK OF MONTREAL,
as Managing Agent and as a Bank
By:
---------------------------------
Name: B. Ciallella
Title: Director
THE BANK OF NOVA SCOTIA,
as Managing Agent and as a Bank
By:
---------------------------------
Name: Andrea L. Sabada
Title: Director
THE TORONTO-DOMINION BANK,
as Managing Agent and
_____________
Bank of Nova Scotia – First Canadian Place
24th Floor
Toronto, Ontario
M5X 1A1
Attention: Cam Landry
Vice President
Telephone: (416) 867-7784
Facsimile: (416) 867-5818
------------------------------------------------------- -----------------------
The Bank of Nova Scotia $40,000,000
44 King Street West
16th Floor
Toronto, Ontario
M5H 1H1
Attention: Andrea Sabada
Director Bank Finance
Telephone: (416) 933-
_____________
dt 251092
;
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| 2001 |
364-Day Credit Agreement [Amended and Restated]
364-Day Credit Agreement [Amended and Restated] (208K)
Doc #302752: Click preview link for longer preview.
AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT
Dated as of
March 29, 2001
Among
EDWARDS LIFESCIENCES CORPORATION
as Borrower
The Lenders Party Hereto
THE CHASE MANHATTAN BANK
as Administrative Agent
CREDIT SUISSE FIRST BOSTON
as Syndication Agent
and
THE BANK OF NOVA SCOTIA
as Documentation Agent
---------------------------
JPMORGAN,
a division of Chase Securities Inc.,
as Advisor, Lead Arranger and Bookrunner
================================================================================
{PAGE}
TABLE OF CONTENTS
Page
ARTICLE I
Definitions
SECTION 1.01. Defined Terms...................................................1
SECTION 1.02. Classification of Loans and Borrowings.........................11
SECTION 1.03. Terms Generally................................................11
SECTION 1.04. Accounting Terms; GAAP.........................................11
ARTICLE II
The Credits
SECTION 2.01. Commitments....................................................11
SECTION 2.02. Loans and Borrowings...........................................12
SECTION 2.03. Requests for Revolving Borrowings..............................12
SECTION 2.04. Competitive Bid Procedure......................................13
SECTION 2.05. Funding of Borrowings..........................................14
SECTION 2.06. Repayment of Borrowings; Evidence of Debt......................15
SECTION 2.07. Interest Elections.............................................15
SECTION 2.08. Termination, Reduction and Extension of Commitments............16
SECTION 2.09. Prepayment of Loans............................................19
SECTION 2.10. Fees...........................................................19
SECTION 2.11. Interest.......................................................20
SECTION 2.12. Alternate Rate of Interest.....................................20
SECTION 2.13. Increased Costs................................................21
SECTION 2.14. Break Funding Payments.........................................22
SECTION 2.15. Taxes..........................................................22
SECTION 2.16. Payments Generally; Pro Rata Treatment; Sharing of Setoffs.....23
SECTION 2.17. Mitigation Obligations; Replacement of Lenders.................24
ARTICLE III
Representations and Warranties
SECTION 3.01. Corporate Existence and Standing...............................25
SECTION 3.02. Authorization; No Violation....................................25
SECTION 3.03. Governmental Consents..........................................25
SECTION 3.04. Validity.......................................................25
SECTION 3.05. Litigation.....................................................25
{PAGE}
Contents, p. 2
SECTION 3.06. Financial Statements; No Material Adverse Change................25
SECTION 3.07. Investment Company Act..........................................25
SECTION 3.08. Regulation U....................................................26
SECTION 3.09. Environmental Matters...........................................26
SECTION 3.10. Disclosure......................................................26
SECTION 3.11 Subsidiary Guarantors...........................................26
SECTION 3.12 Solvency........................................................26
ARTICLE IV
Conditions
SECTION 4.01. Effective Date.................................................27
SECTION 4.02. Each Credit Event..............................................27
ARTICLE V
Affirmative Covenants
SECTION 5.01. Payment of Taxes, Etc. ........................................28
SECTION 5.02. Maintenance of Insurance.......................................28
SECTION 5.03. Preservation of Existence, Etc. ...............................28
SECTION 5.04. Compliance with Laws, Etc. ....................................28
SECTION 5.05. Keeping of Books...............................................28
SECTION 5.06. Inspection.....................................................28
SECTION 5.07. Reporting Requirements.........................................28
SECTION 5.08. Use of Proceeds................................................30
SECTION 5.09. Guarantee Requirement..........................................30
ARTICLE VI
Negative Covenants
SECTION 6.01. Subsidiary Debt................................................30
SECTION 6.02. Liens, Etc. ...................................................30
SECTION 6.03. Sale and Leaseback Transactions................................33
SECTION 6.04. Merger, Etc. ..................................................33
SECTION 6.05. Change in Business.............................................33
SECTION 6.06. Certain Restrictive Agreements.................................33
SECTION 6.07. Leverage Ratio.................................................33
SECTION 6.08. Interest Coverage Ratio........................................33
ARTICLE VII
Events of Default.............................................................35
{PAGE}
Contents, p. 3
ARTICLE VIII
The Administrative Agent......................................................37
ARTICLE IX
Miscellaneous
SECTION 9.01. Notices........................................................39
SECTION 9.02. Waivers; Amendments............................................39
SECTION 9.03. Expenses; Indemnity; Damage Waiver.............................40
SECTION 9.04. Successors and Assigns.........................................41
SECTION 9.05. Survival.......................................................42
SECTION 9.06. Counterparts; Integration; Effectiveness.......................43
SECTION 9.07. Severability...................................................43
SECTION 9.08. Right of Setoff................................................43
SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process.....43
SECTION 9.10. WAIVER OF JURY TRIAL...........................................44
SECTION 9.11. Headings.......................................................44
SECTION 9.12. Confidentiality................................................44
SECTION 9.13. Conversion of Currencies.......................................44
SECTION 9.14. Release of Guarantors..........................................44
SCHEDULES:
Schedule 1.01 -- Subsidiary Guarantors
Schedule 2.01 -- Lenders and Commitments
Schedule 2.01(b) -- Departing Lenders
Schedule 2.16 -- Payment Instructions
Schedule 6.01 -- Debt of Material Subsidiaries
Schedule 6.02 -- Security Interests
EXHIBITS:
Exhibit A -- Form of Assignment and Acceptance
Exhibit B -- Form of Subsidiary Guarantee Agreement
Exhibit C -- Form of Indemnity, Subrogation and Contribution Agreement
302752
|
Chase Securities
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
Chase Securities Inc – as Administrative Agent
CREDIT SUISSE FIRST BOSTON
as Syndication Agent
and
THE BANK OF NOVA SCOTIA
as Documentation Agent
---------------------------
JPMORGAN,
a division of Chase Securities Inc .,
as Advisor, Lead Arranger and Bookrunner
================================================================================
{PAGE}
TABLE OF CONTENTS
Page
ARTICLE I
Definitions
SECTION 1.01. Defined Terms...................................................1
SECTION 1.
_____________
dt 271327
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
ABN AMRO BANK N.V.
– THE BANK OF NOVA SCOTIA,
individually and as Documentation Agent,
by
/s/ R. P. Reynolds
-----------------------------------------------
Name: R. P. Reynolds
Title: Director
{PAGE}
52
ABN AMRO BANK N.V.
by
/s/ Gina Brusatori
-----------------------------------------------
Name: Gina Brusatori
Title: Senior Vice President
by
/s/ Richard Schrage
-----------------------------------------------
Name: Richard Schrage
Title: Vice President
BANCO
_____________
dt 267753
;
Baxter Int'l
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
Baxter International Inc – discount rate implied in the lease) of the obligations of the lessee for rental
payments during the term of the lease.
"Baxter" means Baxter International Inc ., a Delaware corporation
and, prior to the Spin-Off, the owner of all the issued and outstanding capital
stock of the Company.
"
_____________
dt 401778
;
|
BofA
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
BANK OF AMERICA, N.A. – Schrage
Title: Vice President
BANCO BILBAO VIZCAYA ARGENTARIA
PUERTO RICO OVERSEAS
by
/s/ Tomas Rosario
-----------------------------------------------
Name: Tomas Rosario
Title: Executive Vice President - Treasurer
BANK OF AMERICA, N.A.
by
/s/ Larry J. Gordon
-----------------------------------------------
Name: Larry J. Gordon
Title: Principal
THE BANK OF TOKYO MITSUBISHI, LTD. CHICAGO BRANCH
by
/s/ Hiyashi
_____________
dt 274072
;
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Full Doc
| 2001 |
364-Day Credit Agreement [Amended and Restated No. 2]
364-Day Credit Agreement [Amended and Restated No. 2] (27K)
Doc #312344: Click preview link for longer preview.
SECOND AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT
dated as of
April 25, 2000
among
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.,
as Borrowers
The LENDERS Party Hereto
CREDIT SUISSE FIRST BOSTON,
as Syndication Agent and Co-Arranger
CITIBANK, N.A.
THE BANK OF NEW YORK,
as Documentation Agents
and
THE CHASE MANHATTAN BANK,
as Administrative Agent
-------------------------
$1,000,000,000
-------------------------
CHASE SECURITIES INC.,
as Advisor, Lead Arranger and Book Manager
================================================================================
{PAGE} 2
SECOND AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT dated as
of April 25, 2000 (the "Restatement Date") among:
METROPOLITAN LIFE INSURANCE COMPANY (the "Company");
METLIFE FUNDING, INC. ("Funding") and together with the
Company, the "Borrowers");
each of the banks and other financial institutions that is a
signatory hereto (individually, a "Lender" and, collectively, the
"Lenders"); and
THE CHASE MANHATTAN BANK, as administrative agent for the
Lenders (in such capacity, together with its successors in such
capacity, the "Administrative Agent").
W I T N E S S E T H:
WHEREAS, the Borrowers, certain of the Lenders and the
Administrative Agent are party to an Amended and Restated 364-Day Credit
Agreement dated as of April 26, 1999 (the "Existing Credit Agreement") providing
for the making of loans by the Lenders party thereto to the Borrowers in an
aggregate principal amount up to $1,000,000,000 (as the same may be increased
pursuant to Section 2.19 thereof);
WHEREAS, the parties hereto desire to amend in certain
respects and restate in its entirety the Existing Credit Agreement;
NOW, THEREFORE, the parties hereto agree to amend the Existing
Credit Agreement as set forth in Section 2 hereof and to restate the Existing
Credit Agreement to read in its entirety as set forth in the Existing Credit
Agreement (which Existing Credit Agreement is incorporated herein by this
reference), as amended by the amendments set forth in Section 2 hereof:
Section 1. Definitions. Capitalized terms used but not
otherwise defined herein have the meanings given them in the Existing Credit
Agreement.
Section 2. Amendments. Subject to the satisfaction of the
conditions specified in Section 4 hereof, but with effect on and after the
Restatement Date, the Existing Credit Agreement shall be amended as follows:
2.01. General. Each reference to the "Credit
Agreement" and words of similar import in the Existing Credit
Agreement, as amended and restated hereby shall be a reference to the
Existing Credit Agreement as amended and restated hereby and as the
Second Amended and Restated 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 3
-2-
same may be further amended, supplemented and otherwise modified and in
effect from time to time.
2.02. Definitions.
(a) Section 1.01 of the Existing Credit Agreement
shall be amended by amending and restating the following definition as
follows:
"Maturity Date" means April 24, 2001, as such date
may be extended pursuant to Section 2.18 hereof.
(b) Section 1.01 of the Existing Credit Agreement
shall be amended by adding the following definitions:
"Adjusted Statutory Surplus" means, at any time, the
sum of (i) Statutory Surplus (calculated in accordance with
the NAIC Statements, page 3, column 1, line 38) plus (ii)
Asset Valuation Reserve (calculated in accordance with the
NAIC Statements, page 3, column 1, line 24.1).
"MetLife" means MetLife, Inc., a Delaware
corporation.
"Second Restatement Effective Date" means the date
upon which the conditions specified in Section 4 of this
Second Amended and Restated 364-Day Credit Agreement shall
have been satisfied.
"Structured Transaction Liens" means Liens granted by
the Company to (A) a 99%-owned Subsidiary (the "Relevant
Subsidiary") in connection with a structured private
investment transaction entered into in September 1999 (the
"Structured Transaction") where (i) in connection with such
transaction, such Liens are assigned to a special purpose
Subsidiary of the Company (the "SPV") in which the Company is
the holder of all outstanding obligations (other than ordinary
course administrative expenses and common equity interests)
and (ii) the assets covered by such Liens consist solely of
the rights of the Company against the SPV; and (B) the SPV in
connection with the Structured Transaction which are
subordinated to, and exercisable only after, the Liens
described in the preceding clause (A) and which cover only the
assets covered by the Liens described in said clause (A).
2.03. Amendment of Section 5.01(a). Section 5.01(a)
of the Existing Credit Agreement shall be amended to read in its
entirety as follows:
" (a) (i) as soon as available, but not later than
120 days after the end of each fiscal year of MetLife, copies of
MetLife's annual report on Form 10-K as filed with the SEC for such
fiscal year; and (ii) as soon as available, but not later than 45 days
after the end of each of the first three fiscal quarters of each fiscal
year of MetLife, copies of MetLife's quarterly report on Form 10-Q as
filed with the SEC for such fiscal quarter, in
Second Amended and Restated 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 4
-3-
each case certified by an appropriate Financial Officer as being the
complete and correct copies of the statements on such forms furnished
by MetLife to the SEC;".
2.04. Amendment of Section 6.01. Section 6.01 of the
Existing Credit Agreement shall be amended by re-lettering clauses (g),
(h), (i), (j) and (k) as clauses (h), (i), (j), (k) and (l)
respectively, and adding the following new clause (g) immediately
312344
|
Chase Securities
As referenced in this 364-Day Credit Agreement [Amended and Restated No. 2]:
CHASE SECURITIES INC – CITIBANK, N.A.
THE BANK OF NEW YORK,
as Documentation Agents
and
THE CHASE MANHATTAN BANK,
as Administrative Agent
-------------------------
$1,000,000,000
-------------------------
CHASE SECURITIES INC .,
as Advisor, Lead Arranger and Book Manager
================================================================================
{PAGE} 2
SECOND AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT dated as
of April 25,
_____________
Chase
Securities Inc – has signed a counterpart of this
Second Amended and Restated 364-Day Credit Agreement.
4.02 Fees and Expenses. The Administrative Agent and Chase
Securities Inc ., in its capacity as lead arranger, shall have received
all fees and other amounts due and payable on or prior to the
_____________
dt 340036
;
Citibank
As referenced in this 364-Day Credit Agreement [Amended and Restated No. 2]:
CITIBANK, N.A. – METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.,
as Borrowers
The LENDERS Party Hereto
CREDIT SUISSE FIRST BOSTON,
as Syndication Agent and Co-Arranger
CITIBANK, N.A.
THE BANK OF NEW YORK,
as Documentation Agents
and
THE CHASE MANHATTAN BANK,
as Administrative Agent
-------------------------
$1,000,000,000
-------------------------
CHASE SECURITIES
_____________
CITIBANK, N.A. – Title:
By:
----------------------------------------
Name:
Title:
Second Amended and Restated 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 7
-6-
THE BANK OF NEW YORK
By:
----------------------------------------
Name:
Title:
CITIBANK, N.A.
By:
----------------------------------------
Name:
Title:
BANK ONE, NA (formerly known as The First
National Bank of Chicago)
By:
----------------------------------------
Name:
Title:
FIRST UNION NATIONAL BANK
_____________
Citibank, N.A. – C}
The Chase Manhattan Bank 67,500,000
Credit Suisse First Boston 67,500,000
The Bank of New York 67,500,000
Citibank, N.A. 67,500,000
Bank One, NA (formerly known as The First 50,000,000
National Bank of Chicago)
First Union National Bank
_____________
dt 341182
;
MetLife
As referenced in this 364-Day Credit Agreement [Amended and Restated No. 2]:
MetLife, Inc – line 38) plus (ii)
Asset Valuation Reserve (calculated in accordance with the
NAIC Statements, page 3, column 1, line 24.1).
"MetLife" means MetLife, Inc ., a Delaware
corporation.
"Second Restatement Effective Date" means the date
upon which the conditions specified in Section 4 of this
Second Amended
_____________
dt 317214
;
|
BofA
As referenced in this 364-Day Credit Agreement [Amended and Restated No. 2]:
BANK OF AMERICA, N.A. – A.
By:
----------------------------------------
Name:
Title:
Second Amended and Restated 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 8
-7-
BANCO SANTANDER
By:
----------------------------------------
Name:
Title:
By:
----------------------------------------
Name:
Title:
BANK OF AMERICA, N.A. , f/k/a
Bank of America National Trust and
Savings Association, successor by merger
to Bank of America, N.A., f/k/
_____________
Bank of America Na – 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 8
-7-
BANCO SANTANDER
By:
----------------------------------------
Name:
Title:
By:
----------------------------------------
Name:
Title:
BANK OF AMERICA, N.A., f/k/a
Bank of America Na tional Trust and
Savings Association, successor by merger
to Bank of America, N.A., f/k/a
NationsBank, N.A., successor by merger
_____________
Bank of America, N.A. – By:
----------------------------------------
Name:
Title:
BANK OF AMERICA, N.A., f/k/a
Bank of America National Trust and
Savings Association, successor by merger
to Bank of America, N.A. , f/k/a
NationsBank, N.A., successor by merger
to NationsBank of Texas, N.A.
By:
----------------------------------------
Name:
Title:
DEUTSCHE BANK, AG NEW
_____________
Bank of America, N.A. – Bank of Chicago)
First Union National Bank 50,000,000
Fleet National Bank 50,000,000
Mellon Bank, N.A. 50,000,000
Bank of America, N.A. 50,000,000
Deutsche Bank 50,000,000
Banco Santander 40,000,000
State Street Bank and Trust Company 40,000,000
_____________
dt 319066
;
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| 2000 |
364-Day Credit Agreement
364-Day Credit Agreement (244K)
Doc #350497: Click preview link for longer preview.
364-DAY CREDIT AGREEMENT
dated as of
June 30, 2000
among
USG CORPORATION
as Borrower
The Lenders Party Hereto
THE CHASE MANHATTAN BANK
as Administrative Agent
BANK ONE, NA and CITIBANK, N.A.
as Syndication Agents
. . .
350497
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
CHASE SECURITIES INC – The Lenders Party Hereto
THE CHASE MANHATTAN BANK
as Administrative Agent
BANK ONE, NA and CITIBANK, N.A.
as Syndication Agents
and
BANK OF AMERICA, N.A.
as Documentation Agent
---------------------------
CHASE SECURITIES INC .
as Sole Lead Arranger and Sole Book Manager
===============================================================================
{PAGE} 2
ARTICLE I Definitions.................................................1
SECTION 1.01. Defined Terms...............................................1
SECTION 1.02. Classification of Loans and Borrowings.....................17
_____________
Chase Securities Inc – Bank, Loan
and Agency Services Group, One Chase Manhattan Plaza, 8th Floor, New York, New
York 10081, Attention of Katherine Graham (Telecopy No. (212) 552-5662), with a
copy to Chase Securities Inc ., 10 South LaSalle Street, Chicago, Illinois 60603,
Attention of Steven J. Faliski (Telecopy No. (312) 443-1964);
(c) if to any other Lender, to it at its address (or
_____________
dt 727087
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – 364-DAY CREDIT AGREEMENT
dated as of
June 30, 2000
among
USG CORPORATION
as Borrower
The Lenders Party Hereto
THE CHASE MANHATTAN BANK
as Administrative Agent
BANK ONE, NA and CITIBANK, N.A.
as Syndication Agents
and
BANK OF AMERICA, N.A.
as Documentation Agent
---------------------------
CHASE SECURITIES INC.
as Sole Lead Arranger and Sole Book Manager
===============================================================================
{PAGE} 2
ARTICLE I Definitions.................................................1
_____________
CITIBANK, N.A. – June 30, 2000, among USG
CORPORATION, a Delaware corporation (the "Company"); the LENDERS from time to
time party hereto; THE CHASE MANHATTAN BANK, as Administrative Agent; BANK ONE,
NA and CITIBANK, N.A. , as Syndication Agents; and BANK OF AMERICA, N.A., as
Documentation Agent.
The Company has requested the Lenders (such term and each
other capitalized term used and not otherwise
_____________
CITIBANK, N.A. – in
Chicago, Illinois, individually as a Lender
and as Syndication Agent
By:
--------------------------------------------
Name:
Title:
Signature Page
USG Corporation
364-Day Credit Agreement
dated as of June 30, 2000
{PAGE} 72
CITIBANK, N.A. , individually as a Lender and
as Lender and as Syndication Agent
By:
--------------------------------------------
Name:
Title:
Signature Page
USG Corporation
364-Day Credit Agreement
dated as of June 30, 2000
{PAGE}
_____________
dt 737971
;
ER
As referenced in this 364-Day Credit Agreement:
environmental remediation, – Hazardous Material or to health and safety matters.
7
{PAGE} 12
"Environmental Liability" means any liability, contingent or
otherwise (including any liability for damages, natural resource damage claims,
costs of environmental remediation, fines, penalties or indemnities), of the
Company or any Subsidiary directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling,
_____________
dt 995820
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – Section 2.01.
15
{PAGE} 20
Each Revolving Loan shall be a Eurocurrency Loan or an ABR Loan.
"S&P" means Standard & Poor's Ratings Group, a division of The
McGraw-Hill Companies, Inc .
"Sale and Lease-Back Transaction" has the meaning given to
such term in Section 6.06.
"Securities Act" means the Securities Act of 1933, as amended
to the date
_____________
dt 742005
;
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| 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (391K)
Doc #397085: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-4.1
{SEQUENCE}3
{FILENAME}a2047188zex-4_1.txt
{DESCRIPTION}EXHIBIT 4.1
{TEXT}
{PAGE}
EXHIBIT 4.1
[CONFORMED COPY]
$3,855,000,000
364-DAY CREDIT AGREEMENT
dated as of
February 7, 2001
Tyco International Group S.A.,
Borrower
Tyco International Ltd.,
Guarantor
The Chase Manhattan Bank,
Administrative Agent
Bank of America, N.A.,
Commerzbank AG and
Salomon Smith Barney,
Co-Syndication Agents
J.P. Morgan & Co., a division of Chase Securities Inc.,
Arranger
{PAGE}
TABLE OF CONTENTS
PAGE
----
ARTICLE 1 DEFINITIONS
SECTION 1.01. DEFINITIONS..................................................1
SECTION 1.02. ACCOUNTING TERMS AND DETERMINATIONS.........................20
SECTION 1.03. CLASSES AND TYPES OF LOANS AND BORROWINGS...................21
ARTICLE 2 THE CREDITS
SECTION 2.01. COMMITMENTS TO LEND.........................................21
SECTION 2.02. NOTICE OF COMMITTED BORROWING...............................25
SECTION 2.03. THE MONEY MARKET BORROWINGS.................................25
SECTION 2.04. NOTICE TO BANKS; FUNDING OF LOANS...........................29
SECTION 2.05. PROMISSORY NOTES............................................31
SECTION 2.06. MATURITY OF LOANS...........................................31
SECTION 2.07. INTEREST RATES..............................................32
SECTION 2.08. FACILITY FEE................................................34
SECTION 2.09. OPTIONAL TERMINATION OR REDUCTION OF COMMITMENTS............34
SECTION 2.10. MANDATORY TERMINATION OF COMMITMENTS........................34
SECTION 2.11. OPTIONAL PREPAYMENTS........................................35
SECTION 2.12. GENERAL PROVISIONS AS TO PAYMENTS...........................35
SECTION 2.13. FUNDING LOSSES..............................................36
SECTION 2.14. COMPUTATION OF INTEREST AND FEES............................37
SECTION 2.15. REGULATION D COMPENSATION...................................37
SECTION 2.16. METHOD OF ELECTING INTEREST RATES...........................37
SECTION 2.17. DETERMINING DOLLAR AMOUNTS OF ALTERNATIVE CURRENCY
LOANS; RELATED MANDATORY PREPAYMENTS.................................39
SECTION 2.18. ADDITIONAL RESERVE COSTS....................................40
SECTION 2.19. CHANGES IN MARKET PRACTICE FOLLOWING EMU....................41
ARTICLE 3 CONDITIONS
SECTION 3.01. EFFECTIVENESS...............................................41
SECTION 3.02. EXISTING 364-DAY AGREEMENT..................................42
SECTION 3.03. BORROWINGS..................................................43
ARTICLE 4 REPRESENTATIONS AND WARRANTIES
{PAGE}
SECTION 4.01. CORPORATE EXISTENCE AND POWER...............................43
SECTION 4.02. CORPORATE AND GOVERNMENTAL AUTHORIZATION; NO
CONTRAVENTION........................................................44
SECTION 4.03. BINDING EFFECT..............................................44
SECTION 4.04. FINANCIAL INFORMATION.......................................44
SECTION 4.05. LITIGATION..................................................44
SECTION 4.06. COMPLIANCE WITH ERISA.......................................44
SECTION 4.07. ENVIRONMENTAL MATTERS.......................................45
SECTION 4.08. TAXES.......................................................45
SECTION 4.09. SUBSIDIARIES................................................46
SECTION 4.10. NOT AN INVESTMENT COMPANY...................................46
SECTION 4.11. FULL DISCLOSURE.............................................46
SECTION 4.12. OBLIGATIONS TO BE PARI PASSU................................46
ARTICLE 5 COVENANTS
SECTION 5.01. INFORMATION.................................................46
SECTION 5.02. PAYMENT OF OBLIGATIONS......................................48
SECTION 5.03. MAINTENANCE OF PROPERTY; INSURANCE..........................49
SECTION 5.04. CONDUCT OF BUSINESS AND MAINTENANCE OF EXISTENCE............49
SECTION 5.05. COMPLIANCE WITH LAWS........................................50
SECTION 5.06. INSPECTION OF PROPERTY, BOOKS AND RECORDS;
CONFIDENTIALITY......................................................50
SECTION 5.07. LIMITATION ON RESTRICTIONS ON SUBSIDIARY DIVIDENDS AND
OTHER DISTRIBUTIONS..................................................52
SECTION 5.08. DEBT........................................................54
SECTION 5.09. FIXED CHARGE COVERAGE.......................................54
SECTION 5.10. NEGATIVE PLEDGE.............................................54
SECTION 5.11. CONSOLIDATIONS, MERGERS AND SALES OF ASSETS.................56
SECTION 5.12. TRANSACTIONS WITH AFFILIATES................................57
SECTION 5.13. RESTRICTED PAYMENTS.........................................58
SECTION 5.14. SUBSIDIARY GUARANTORS.......................................58
SECTION 5.15. USE OF PROCEEDS.............................................58
ARTICLE 6 DEFAULTS
SECTION 6.01. EVENTS OF DEFAULTS..........................................59
SECTION 6.02. NOTICE OF DEFAULT...........................................62
ARTICLE 7 THE AGENT
{PAGE}
SECTION 7.01. APPOINTMENT AND AUTHORIZATION...............................62
SECTION 7.02. AGENT AND AFFILIATES........................................62
SECTION 7.03. ACTION BY AGENT.............................................63
SECTION 7.04. CONSULTATION WITH EXPERTS...................................63
SECTION 7.05. LIMITS OF LIABILITY.........................................63
SECTION 7.06. INDEMNIFICATION.............................................63
SECTION 7.07. CREDIT DECISION.............................................64
SECTION 7.08. SUCCESSOR AGENT.............................................64
SECTION 7.09. AGENT'S FEE.................................................64
ARTICLE 8 CHANGE IN CIRCUMSTANCES
SECTION 8.01. BASIS FOR DETERMINING INTEREST RATE INADEQUATE OR UNFAIR....65
SECTION 8.02. ILLEGALITY..................................................65
SECTION 8.03. INCREASED COST AND REDUCED RETURN...........................66
SECTION 8.04. TAXES.......................................................68
SECTION 8.05. BASE RATE LOANS SUBSTITUTED FOR AFFECTED FIXED RATE LOANS...70
SECTION 8.06. SUBSTITUTION OF BANK........................................70
ARTICLE 9 MISCELLANEOUS
SECTION 9.01. NOTICES.....................................................71
SECTION 9.02. NO WAIVERS..................................................71
SECTION 9.03. EXPENSES; INDEMNIFICATION...................................72
SECTION 9.04. SHARING OF SET-OFFS.........................................72
SECTION 9.05. AMENDMENTS AND WAIVERS......................................73
397085
|
Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – International Ltd.,
Guarantor
The Chase Manhattan Bank,
Administrative Agent
Bank of America, N.A.,
Commerzbank AG and
Salomon Smith Barney,
Co-Syndication Agents
J.P. Morgan & Co., a division of Chase Securities Inc .,
Arranger
{PAGE}
TABLE OF CONTENTS
PAGE
----
ARTICLE 1 DEFINITIONS
SECTION 1.01. DEFINITIONS..................................................1
SECTION 1.02. ACCOUNTING TERMS AND DETERMINATIONS.........................20
SECTION 1.03. CLASSES AND TYPES OF
_____________
dt 1521994
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK N.V.
– Title: Vice President
COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Robert J. Donohue
-----------------------------------------
Title: Senior Vice President
By: /s/ Peter T. Doyle
-----------------------------------------
Title: Assistant Vice President
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Helen Clarke-Hepp
-----------------------------------------
Title: Vice President
By: /s/ Dean P. Giglio
-----------------------------------------
Title: Vice President
BANCA NAZIONALE DEL LAVORO S.P.A.,
NEW YORK BRANCH
By: /s/ Giulio
_____________
ABN AMRO Bank N.V. – 484.18
Bank of America, N.A.* $ 181,063,193.85
Citibank, N.A.* $ 181,063,193.85
Commerzbank AG, New York and Grand Cayman $ 181,063,193.85
Branches*
ABN AMRO Bank N.V. $ 115,222,032.45
Banca Nazionale del Lavoro S.p.A., New York Branch $ 115,222,032.45
The Bank of Nova Scotia $ 115,222,032.45
Barclays Bank
_____________
dt 1470808
;
Citibank
As referenced in this 364-Day Credit Agreement:
Citibank, N.A. – December 31.
"RATING AGENCY" means S&P or Moody's.
"REFERENCE BANKS" means the principal London offices of The Chase
Manhattan Bank, Bank of America, N.A., Commerzbank AG and Citibank, N.A.
"REFINANCING" has the meaning set forth in Section 5.07 (and the term
"REFINANCED" has a correlative meaning).
"REGULATION U" means Regulation U of the Board of Governors of
_____________
CITIBANK, N.A. – number: 441-295-9647
{PAGE}
THE CHASE MANHATTAN BANK
By: /s/ Thomas H. Kozlark
----------------------------------------
Title: Vice President
BANK OF AMERICA, N.A.
By: /s/ John W. Pocalyko
-----------------------------------------
Title: Managing Director
CITIBANK, N.A.
By: /s/ Diane L. Pockaj
-----------------------------------------
Title: Vice President
COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Robert J. Donohue
-----------------------------------------
Title: Senior Vice President
By: /s/ Peter T.
_____________
Citibank, N.A. – York 10018
Facsimile number: 212-552-5658
{PAGE}
COMMITMENT SCHEDULE
{TABLE}
{S} {C}
The Chase Manhattan Bank* $ 197,523,484.18
Bank of America, N.A.* $ 181,063,193.85
Citibank, N.A. * $ 181,063,193.85
Commerzbank AG, New York and Grand Cayman $ 181,063,193.85
Branches*
ABN AMRO Bank N.V. $ 115,222,032.45
Banca Nazionale del Lavoro
_____________
dt 1478307
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – LOAN" means a loan made or to be made by a Bank
pursuant to Section 2.01(a).
"S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc ., or any successor to its business of rating debt
securities.
"SIGNIFICANT SUBSIDIARY" means, at any date, (A) any Consolidated
Subsidiary which, including its consolidated subsidiaries, meets any of the
_____________
dt 1516474
;
Tyco Int'l
As referenced in this 364-Day Credit Agreement:
Tyco International Ltd – EXHIBIT 4.1
{TEXT}
{PAGE}
EXHIBIT 4.1
[CONFORMED COPY]
$3,855,000,000
364-DAY CREDIT AGREEMENT
dated as of
February 7, 2001
Tyco International Group S.A.,
Borrower
Tyco International Ltd .,
Guarantor
The Chase Manhattan Bank,
Administrative Agent
Bank of America, N.A.,
Commerzbank AG and
Salomon Smith Barney,
Co-Syndication Agents
J.P. Morgan & Co., a division of Chase
_____________
TYCO INTERNATIONAL LTD – Subsidiary Counsel Opinion
Exhibit L - Mandatory Costs Rate
Exhibit M - Extension Agreement
{PAGE}
364-DAY CREDIT AGREEMENT
AGREEMENT dated as of February 7, 2001 among TYCO INTERNATIONAL GROUP
S.A., TYCO INTERNATIONAL LTD ., the BANKS listed on the signature pages hereof
and THE CHASE MANHATTAN BANK, as Agent.
The parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
SECTION 1.01. DEFINITIONS. The
_____________
Tyco International Ltd – the term Guarantee shall not include
endorsements for collection or deposit in the ordinary course of business. The
term "Guarantee" used as a verb has a corresponding meaning.
"GUARANTOR" means Tyco International Ltd ., a Bermuda company, and its
successors.
"GUARANTOR'S 2000 FORM 10-K" means the Guarantor's annual report on
Form 10-K for the fiscal year ended September 30,
_____________
TYCO INTERNATIONAL LTD – written.
TYCO INTERNATIONAL GROUP S.A.
By: /s/ Richard W. Brann
---------------------------------------------
Title: Managing Director
Address: 2nd Floor, 6 Avenue Emile Reuter
L-2420, Luxembourg
Facsimile number: 011-352-464-350
TYCO INTERNATIONAL LTD .
By: /s/ Mark H. Swartz
---------------------------------------------
Title: Chief Financial Officer and
Executive Vice President
Address: The Zurich Center, 2nd Floor
90 Pitts Bay Road
Pembroke HM08
Bermuda
Facsimile number: 441-
_____________
Tyco
International Ltd – under the Credit Agreement.
This promissory note is one of the Promissory Notes referred to in the
364- Day Credit Agreement dated as of February 7, 2001 among the Borrower, Tyco
International Ltd ., the banks listed on the signature pages thereof and The
Chase Manhattan Bank, as Agent (as the same may be amended from time to time,
the "Credit Agreement"). Terms
_____________
dt 1365446
;
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364-Day Credit Agreement
364-Day Credit Agreement (362K)
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{DOCUMENT}
{TYPE}EX-4.19
{SEQUENCE}4
{FILENAME}a2030822zex-4_19.txt
{DESCRIPTION}EXHIBIT 4.19
{TEXT}
{PAGE}
EXHIBIT 4.19
COMPOSITE CONFORMED COPY
AS AMENDED BY AMENDMENT NO. 1
$4,500,000,000
364-DAY CREDIT AGREEMENT
dated as of
February 11, 2000
Tyco International Group S.A.,
Borrower
Tyco International Ltd.,
Guarantor
Morgan Guaranty Trust Company of New York,
Administrative Agent
Bank of America, N.A.
The Chase Manhattan Bank
Commerzbank AG,
Co-Syndication Agents
J.P. Morgan Securities Inc.,
Arranger
Banc of America Securities LLC
Chase Securities Inc.
Commerzbank AG
Salomon Smith Barney,
Co-Arrangers
{PAGE}
TABLE OF CONTENTS
ARTICLE 1
DEFINITIONS
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{S} {C} {C}
Section 1.01. Definitions......................................................................1
Section 1.02. Accounting Terms and Determinations.............................................19
Section 1.03. Classes and Types of Loans and Borrowings.......................................19
ARTICLE 2
THE CREDITS
Section 2.01. Commitments to Lend.............................................................19
Section 2.02. Notice of Committed Borrowing...................................................21
Section 2.03. The Money Market Borrowings.....................................................22
Section 2.04. Notice To Banks; Funds Of Loans.................................................26
Section 2.05. Promissory Notes................................................................27
Section 2.06. Maturity of Loans...............................................................28
Section 2.07. Interest Rates..................................................................28
Section 2.08. Facility Fee....................................................................30
Section 2.09. Optional Termination or Reduction of Commitments................................30
Section 2.10. Mandatory Termination of Commitments............................................30
Section 2.11. Optional Prepayments............................................................30
Section 2.12. General Provisions as to Payments...............................................31
Section 2.13. Funding Losses..................................................................32
Section 2.14. Computation of Interest and Fees................................................32
Section 2.15. Regulation D Compensation.......................................................32
Section 2.16. Method of Electing Interest Rates...............................................33
Section 2.17. Optional Increase in Commitments................................................35
Section 2.18. Determining Dollar Amounts of Alternative
Currency Loans; Related Mandatory Prepayments ................................35
Section 2.19. Additional Reserve Costs........................................................36
Section 2.20. Changes in Market Practice Following EMU........................................36
ARTICLE 3
CONDITIONS
Section 3.01. Effectiveness...................................................................37
Section 3.02. Existing 364-Day Agreement......................................................38
Section 3.03. Borrowings......................................................................38
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
Section 4.01. Corporate Existence and Power...................................................39
i
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Section 4.02. Corporate and Governmental Authorization; No Contravention......................39
Section 4.03. Binding Effect..................................................................39
Section 4.04. Financial Information...........................................................40
Section 4.05. Litigation......................................................................40
Section 4.06. Compliance with ERISA...........................................................40
Section 4.07. Environmental Matters...........................................................41
Section 4.08. Taxes...........................................................................41
Section 4.09. Subsidiaries....................................................................41
Section 4.10. Not an Investment Company.......................................................41
Section 4.11. Full Disclosure.................................................................41
Section 4.12. Obligations to Be Pari Passu....................................................42
ARTICLE 5
COVENANT
Section 5.01. Information.....................................................................42
Section 5.02. Payment of Obligations..........................................................44
Section 5.03. Maintenance of Property; Insurance..............................................44
Section 5.04. Conduct of Business and Maintenance of Existence................................44
Section 5.05. Compliance with Laws............................................................45
Section 5.06. Inspection of Property, Books and Records; Confidentiality......................45
Section 5.07. Limitation on Restrictions on Subsidiary Dividends and Other Distributions......47
Section 5.08. Debt............................................................................49
Section 5.09. Fixed Charge Coverage...........................................................49
Section 5.10. Negative Pledge.................................................................49
Section 5.11. Consolidations, Mergers And Sales Of Assets.....................................51
Section 5.12. Transactions With Affiliates....................................................52
Section 5.13. Restricted Payments.............................................................53
Section 5.14. Subsidiary Guarantors...........................................................53
Section 5.15. Use of Proceeds.................................................................53
ARTICLE 6
DEFAULTS
Section 6.01. Events of Defaults..............................................................53
Section 6.02. Notice of Default...............................................................56
ARTICLE 7
THE AGENT
Section 7.01. Appointment and Authorization...................................................57
Section 7.02. Agent and Affiliates............................................................57
Section 7.03. Action by Agent.................................................................57
Section 7.04. Consultation With Experts.......................................................57
Section 7.05. Limits of Liability.............................................................57
Section 7.06. Indemnification.................................................................58
397154
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Chase Securities
As referenced in this 364-Day Credit Agreement:
Chase Securities Inc – of New York,
Administrative Agent
Bank of America, N.A.
The Chase Manhattan Bank
Commerzbank AG,
Co-Syndication Agents
J.P. Morgan Securities Inc.,
Arranger
Banc of America Securities LLC
Chase Securities Inc .
Commerzbank AG
Salomon Smith Barney,
Co-Arrangers
{PAGE}
TABLE OF CONTENTS
ARTICLE 1
DEFINITIONS
{TABLE}
{S} {C} {C}
Section 1.01. Definitions......................................................................1
Section 1.02. Accounting Terms and
_____________
dt 1521997
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK N.V.
– L. POCKAJ
------------------------------------------
Title: Vice President
COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ ROBERT DONOHUE
------------------------------------------
Title: Senior Vice President
By: /s/ PETER DOYLE
------------------------------------------
Title: Assistant Vice President
{PAGE}
ABN AMRO BANK N.V.
By: /s/ JAMES S. ADELSHEIM
------------------------------------------
Title: Group Vice President
By: /s/ ILDIKO E. JUHASZ
------------------------------------------
Title: Assistant Vice President
THE BANK OF NOVA SCOTIA
By: /s/ W.J. BROWN
------------------------------------------
Title:
_____________
ABN AMRO Bank N.V. – America, N.A.* $135,000,000
The Chase Manhattan Bank* $135,000,000
Citibank, N.A.* $135,000,000
Commerzbank AG, New York and Grand Cayman Branches* $135,000,000
ABN AMRO Bank N.V. $125,000,000
The Bank of Nova Scotia $125,000,000
Barclays Bank PLC $125,000,000
Bayerische Hypo - Und Vereinsbank AG, New York Branch $125,000,000
Credit
_____________
dt 1470810
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – Facsimile number: 212-648-5018
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BANK OF AMERICA, N.A.
By: /s/ JOHN POCALYKO
------------------------------------------
Title: Managing Director
THE CHASE MANHATTAN BANK
By: /s/ RANDOLPH E. CATES
------------------------------------------
Title: Vice President
CITIBANK, N.A.
By: /s/ DIANE L. POCKAJ
------------------------------------------
Title: Vice President
COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ ROBERT DONOHUE
------------------------------------------
Title: Senior Vice President
By: /s/ PETER DOYLE
------------------------------------------
Title:
_____________
Citibank, N.A. – Vice President
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COMMITMENT SCHEDULE
Morgan Guaranty Trust Company of New York* $145,000,000
Bank of America, N.A.* $135,000,000
The Chase Manhattan Bank* $135,000,000
Citibank, N.A. * $135,000,000
Commerzbank AG, New York and Grand Cayman Branches* $135,000,000
ABN AMRO Bank N.V. $125,000,000
The Bank of Nova Scotia $125,000,
_____________
dt 1478309
;
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McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – LOAN" means a loan made or to be made by a Bank pursuant
to Section 2.01(a).
"S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc ., or any successor to its business of rating debt
securities.
"SIGNIFICANT SUBSIDIARY" means, at any date, (A) any Consolidated
Subsidiary which, including its consolidated subsidiaries, meets any of the
_____________
dt 1516476
;
Tyco Int'l
As referenced in this 364-Day Credit Agreement:
Tyco International Ltd – 19
COMPOSITE CONFORMED COPY
AS AMENDED BY AMENDMENT NO. 1
$4,500,000,000
364-DAY CREDIT AGREEMENT
dated as of
February 11, 2000
Tyco International Group S.A.,
Borrower
Tyco International Ltd .,
Guarantor
Morgan Guaranty Trust Company of New York,
Administrative Agent
Bank of America, N.A.
The Chase Manhattan Bank
Commerzbank AG,
Co-Syndication Agents
J.P. Morgan Securities Inc.,
_____________
TYCO INTERNATIONAL LTD – K - Form of Subsidiary Counsel Opinion
Exhibit L - Mandatory Costs Rate
iv
{PAGE}
364-DAY CREDIT AGREEMENT
AGREEMENT dated as of February 11, 2000 among TYCO INTERNATIONAL GROUP
S.A., TYCO INTERNATIONAL LTD ., the BANKS listed on the signature pages hereof
and MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as Agent.
The parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
SECTION 1.
_____________
Tyco International Ltd – the term Guarantee shall not include endorsements for
collection or deposit in the ordinary course of business. The term "Guarantee"
used as a verb has a corresponding meaning.
"GUARANTOR" means Tyco International Ltd ., a Bermuda company, and its
successors.
"GUARANTOR'S 1999 FORM 10-K" means the Guarantor's annual report on Form
10-K for the fiscal year ended September 30,
_____________
TYCO INTERNATIONAL LTD – written.
TYCO INTERNATIONAL GROUP S.A.
By: /s/ RICHARD W. BRANN
----------------------------------------------
Title: Managing Director
Address: 2nd Floor, 6 Avenue Emile Reuter
L-2420, Luxembourg
Facsimile number: 011-352-464-3350
TYCO INTERNATIONAL LTD .
By: /s/ BYRON S. KALOGEROU
----------------------------------------------
Title: Vice President and Assistant Secretary
The Zurich Center 2nd Floor
90 Pitts Bay Road
Pembroke HM08
Bermuda
Facisimile No.: 441-295-9647
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_____________
Tyco
International Ltd – Guaranty Trust Company
of New York, as Agent
60 Wall Street
New York, New York 10260
Ladies and Gentlemen:
I am the Executive Vice President and Chief Corporate Counsel of Tyco
International Ltd ., a Bermuda company (the "Guarantor"), which owns all of the
outstanding capital stock of Tyco International Group S.A., a Luxembourg company
(the "BORROWER"). I am rendering this opinion
_____________
dt 1365456
;
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