Credit Agreement (2007)Full Document 

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CREDIT AGREEMENT

DATED AS OF JULY 2, 2007

AMONG

CINCINNATI FINANCIAL CORPORATION

and

CFC INVESTMENT COMPANY,

THE LENDERS

FROM TIME TO TIME PARTY HERETO,



and



THE HUNTINGTON NATIONAL BANK

AS ADMINISTRATIVE AGENT,



and



LASALLE BANK NATIONAL ASSOCIATION

AS DOCUMENTATION AGENT






TABLE OF CONTENTS


Page

ARTICLE I    DEFINITIONS

1

SECTION 1.1.

DEFINITIONS

1

SECTION 1.2.

CLASSIFICATION OF LOANS AND ADVANCES

11

SECTION 1.3.

TERMS GENERALLY

11

SECTION 1.4.

ACCOUNTING TERMS

11

ARTICLE II    THE CREDIT

12

SECTION 2.1

COMMITMENTS

12

SECTION 2.2.

LOANS AND ADVANCES

12

SECTION 2.3.

REQUIRED PAYMENTS; TERMINATION

12

SECTION 2.4.

COMMITMENT AND UTILIZATION FEES; INCREASES AND REDUCTIONS IN AGGREGATE COMMITMENT  12

SECTION 2.5.

MINIMUM AMOUNT OF EACH ADVANCE; EURODOLLAR ADVANCES

12

SECTION 2.6.

METHOD OF SELECTING TYPES AND INTEREST PERIODS FOR NEW ADVANCES  14

SECTION 2.7.

CONVERSION AND CONTINUATION OF OUTSTANDING ADVANCES

14

SECTION 2.8.

OPTIONAL PRINCIPAL PAYMENTS

15

SECTION 2.9.

SWINGLINE LOANS

15

SECTION 2.10.

CHANGES IN INTEREST RATE, ETC

17

SECTION 2.11.

RATES APPLICABLE AFTER DEFAULT

17

SECTION 2.12.

REPAYMENT OF LOANS; EVIDENCE OF DEBT

17

SECTION 2.13.

TELEPHONIC NOTICES

19

SECTION 2.14.

INTEREST PAYMENT DATES; INTEREST AND FEE BASIS

19

SECTION 2.15.

NOTIFICATION OF ADVANCES, INTEREST RATES, PREPAYMENTS AND COMMITMENT REDUCTIONS OR INCREASES  19

SECTION 2.16.

LENDING INSTALLATIONS

21

SECTION 2.17.

NON-RECEIPT OF FUNDS BY THE ADMINISTRATIVE AGENT

21

SECTION 2.18.

REPLACEMENT OF LENDER

21

ARTICLE III    YIELD PROTECTION; TAXES

22

SECTION 3.1.

YIELD PROTECTION

22

SECTION 3.2.

CHANGES IN CAPITAL ADEQUACY REGULATIONS

23

SECTION 3.3.

AVAILABILITY OF TYPES OF ADVANCES

23

SECTION 3.4.

FUNDING INDEMNIFICATION

23

SECTION 3.5.

TAXES

23

SECTION 3.6.

LENDER STATEMENTS; SURVIVAL OF INDEMNITY

25

ARTICLE IV    CONDITIONS PRECEDENT

27

SECTION 4.1.

EFFECTIVE DATE; INITIAL CREDIT EXTENSION

27

SECTION 4.2.

EACH CREDIT EXTENSION

27

ARTICLE V    REPRESENTATIONS AND WARRANTIES

29

SECTION 5.1.

EXISTENCE AND STANDING

29

SECTION 5.2.

AUTHORIZATION AND VALIDITY

29

SECTION 5.3.

NO CONFLICT; GOVERNMENT CONSENT

29

SECTION 5.4.

FINANCIAL STATEMENTS

29

SECTION 5.5.

MATERIAL ADVERSE CHANGE

29

SECTION 5.6.

TAXES

30

SECTION 5.7.

LITIGATION AND CONTINGENT OBLIGATIONS

31

SECTION 5.8.

SUBSIDIARIES

31

SECTION 5.9.

ERISA

31

SECTION 5.10.

ACCURACY OF INFORMATION

31

SECTION 5.11.

FEDERAL RESERVE REGULATIONS

31








SECTION 5.12.

MATERIAL AGREEMENTS

31

SECTION 5.13.

COMPLIANCE WITH LAWS

31

SECTION 5.14.

PROPERTIES

32

SECTION 5.15.

ENVIRONMENTAL MATTERS

33

SECTION 5.16.

INVESTMENT COMPANY ACT

33

SECTION 5.17.

PUBLIC UTILITY HOLDING COMPANY ACT

33

SECTION 5.18.

INSURANCE

33

SECTION 5.19.

SOLVENCY

34

SECTION 5.20.

LABOR MATTERS

35

SECTION 5.21

INTELLECTUAL PROPERTY

35

ARTICLE VI    COVENANTS

35

SECTION 6.1.

FINANCIAL REPORTING

35

SECTION 6.2.

USE OF PROCEEDS

36

SECTION 6.3.

NOTICE OF DEFAULT

37

SECTION 6.4.

CONDUCT OF BUSINESS

37

SECTION 6.5.

TAXES

37

SECTION 6.6.

INSURANCE

37

SECTION 6.7.

COMPLIANCE WITH LAWS

37

SECTION 6.8.

MAINTENANCE OF PROPERTIES

37

SECTION 6.9.

BOOKS AND RECORDS; INSPECTION

37

SECTION 6.10.

INDEBTEDNESS

38

SECTION 6.11.

MERGER

39

SECTION 6.12.

SALE OF ASSETS

39

SECTION 6.13.

LIENS

39

SECTION 6.14.

TRANSACTIONS WITH AFFILIATES

41

SECTION 6.15.

SALE AND LEASEBACK TRANSACTIONS AND OTHER OFF-BALANCE SHEET LIABILITIES  41

SECTION 6.16

FINANCIAL COVENANTS

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