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Credit Agreement
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CREDIT AGREEMENT
Dated as of July 27, 2001
Among
THE FINANCIAL INSTITUTIONS NAMED HEREIN,
AS THE LENDERS;
BANK OF AMERICA, N.A.,
AS THE ADMINISTRATIVE AGENT;
CITICORP USA, INC.,
AS THE DOCUMENTATION AGENT;
HELLER FINANCIAL, INC.,
AS THE SYNDICATION AGENT;
FLEETWOOD ENTERPRISES, INC.,
AS A GUARANTOR;
and
FLEETWOOD HOLDINGS INC., and certain of its Subsidiaries,
and
FLEETWOOD RETAIL CORP., and certain of its Subsidiaries,
AS THE BORROWERS.
{Page}
TABLE OF CONTENTS
{Table}
{Caption}
PAGE
----
{S} {C}
ARTICLE 1 LOANS AND LETTERS OF CREDIT..........................................................2
1.1 Total Facility...............................................................2
1.2 Revolving Loans..............................................................2
1.3 Term Loans...................................................................6
1.4 Letters of Credit............................................................6
1.5 Bank Products...............................................................10
1.6 Joint and Several Obligations; Contribution Rights..........................11
1.7 Borrowing Agency Provisions.................................................15
1.8 Senior Debt.................................................................17
ARTICLE 2 INTEREST AND FEES...................................................................17
2.1 Interest....................................................................17
2.2 Continuation and Conversion Elections.......................................17
2.3 Maximum Interest Rate.......................................................18
2.4 Closing Fee.................................................................19
2.5 Unused Line Fee.............................................................19
2.6 Letter of Credit Fee........................................................19
ARTICLE 3 PAYMENTS AND PREPAYMENTS............................................................20
3.1 Revolving Loans.............................................................20
3.2 Termination of Facility.....................................................20
3.3 Repayment of the Term Loans.................................................20
3.4 Prepayments of the Loans....................................................21
3.5 LIBOR Rate Loan Prepayments.................................................22
3.6 Payments by the Borrowers...................................................22
3.7 Payments as Revolving Loans.................................................22
3.8 Apportionment, Application and Reversal of Payments.........................23
3.9 Indemnity for Returned Payments.............................................23
3.10 The Agent's and Lenders' Books and Records; Monthly Statements..............24
3.11 Release of FRC Borrower.....................................................24
ARTICLE 4 TAXES, YIELD PROTECTION AND ILLEGALITY..............................................25
4.1 Taxes.......................................................................25
4.2 Illegality..................................................................26
4.3 Increased Costs and Reduction of Return.....................................27
4.4 Funding Losses..............................................................27
4.5 Inability to Determine Rates................................................28
4.6 Certificates of the Agent...................................................28
4.7 Survival....................................................................28
i
{Page}
ARTICLE 5 BOOKS AND RECORDS; FINANCIAL INFORMATION; NOTICES...................................28
5.1 Books and Records...........................................................28
5.2 Financial Information.......................................................28
5.3 Notices to the Lenders......................................................31
ARTICLE 6 GENERAL WARRANTIES AND REPRESENTATIONS..............................................33
6.1 Authorization, Validity, and Enforceability of this Agreement and the
Loan Documents..............................................................34
6.2 Validity and Priority of Security Interest..................................34
6.3 Organization and Qualification..............................................34
6.4 Corporate Name; Prior Transactions..........................................34
6.5 Subsidiaries and Affiliates.................................................35
6.6 Financial Statements and Projections........................................35
6.7 Capitalization..............................................................35
6.8 Solvency....................................................................36
6.9 Debt........................................................................36
6.10 Distributions...............................................................36
6.11 Real Estate; Leases.........................................................36
6.12 Proprietary Rights..........................................................36
6.13 Trade Names.................................................................36
6.14 Litigation..................................................................37
6.15 Labor Disputes..............................................................37
6.16 Environmental Laws..........................................................37
6.17 No Violation of Law.........................................................38
6.18 No Default..................................................................38
6.19 ERISA Compliance............................................................38
6.20 Taxes.......................................................................39
6.21 Regulated Entities..........................................................39
6.22 Use of Proceeds; Margin Regulations.........................................39
6.23 Copyrights, Patents, Trademarks and Licenses, etc...........................39
6.24 No Material Adverse Change..................................................40
6.25 Full Disclosure.............................................................40
6.26 Material Agreements.........................................................40
6.27 Bank Accounts...............................................................40
6.28 Governmental Authorization..................................................40
6.29 Senior Debt.................................................................40
ARTICLE 7 AFFIRMATIVE AND NEGATIVE COVENANTS..................................................40
7.1 Taxes and Other Obligations.................................................41
7.2 Legal Existence and Good Standing...........................................41
7.3 Compliance with Law and Agreements; Maintenance of Licenses.................41
7.4 Maintenance of Property; Inspection of Property.............................41
7.5 Insurance...................................................................42
7.6 Insurance and Condemnation Proceeds.........................................43
ii
{Page}
7.7 Environmental Laws..........................................................43
7.8 Compliance with ERISA.......................................................44
7.9 Mergers, Consolidations or Sales............................................45
7.10 Distributions; Capital Change; Restricted Investments.......................46
7.11 Transactions Affecting Collateral or Obligations............................47
7.12 Guaranties..................................................................47
7.13 Debt........................................................................48
7.14 Prepayment..................................................................50
7.15 Transactions with Affiliates................................................50
7.16 Investment Banking and Finder's Fees........................................50
7.17 Business Conducted..........................................................51
7.18 Liens.......................................................................51
7.19 Sale and Leaseback Transactions.............................................51
7.20 New Subsidiaries............................................................51
7.21 Fiscal Year.................................................................51
7.22 Capital Expenditures........................................................51
7.23 Fixed Charge Coverage Ratio.................................................52
7.24 EBITDA......................................................................52
7.25 Minimum Aggregate Availability..............................................52
7.26 Contribution of Management Fees.............................................53
7.27 Use of Proceeds.............................................................53
7.28 Further Assurances; Additional Mortgages....................................53
7.29 Subordinated Debt; Trust Securities.........................................54
7.30 Advisors for Sale of Term Loan Collateral...................................54
ARTICLE 8 CONDITIONS OF LENDING...............................................................55
8.1 Conditions Precedent to Making of Loans on the Initial Funding Date.........55
8.2 Conditions Precedent to Each Loan...........................................58
ARTICLE 9 DEFAULT; REMEDIES...................................................................59
9.1 Events of Default...........................................................59
9.2 Remedies....................................................................62
ARTICLE 10 TERM AND TERMINATION...............................................................63
10.1 Term and Termination........................................................63
ARTICLE 11 AMENDMENTS; WAIVERs; PARTICIPATIONS; ASSIGNMENTS; SUCCESSORS.......................64
11.1 Amendments and Waivers......................................................64
11.2 Assignments; Participations.................................................66
ARTICLE 12 THE AGENT..........................................................................68
12.1 Appointment and Authorization...............................................68
iii
{Page}
12.2 Delegation of Duties........................................................69
12.3 Liability of the Agent......................................................69
12.4 Reliance by the Agent.......................................................69
12.5 Notice of Default...........................................................69
12.6 Credit Decision.............................................................70
12.7 Indemnification.............................................................70
12.8 The Agent in Individual Capacity............................................70
12.9 Successor Agent.............................................................71
12.10 Withholding Tax.............................................................71
12.11 Collateral Matters..........................................................72
12.12 Restrictions on Actions by Lenders; Sharing of Payments.....................74
12.13 Agency for Perfection.......................................................74
12.14 Payments by the Agent to Lenders............................................75
12.15 Settlement..................................................................75
12.16 Letters of Credit; Intra-Lender Issues......................................78
12.17 Concerning the Collateral and the Related Loan Documents....................81
12.18 Field Audit and Examination Reports; Disclaimer by Lenders..................81
12.19 Relation Among Lenders......................................................82
12.20 Co-Agents...................................................................82
12.21 Collateral Priority.........................................................82
ARTICLE 13 MISCELLANEOUS......................................................................82
13.1 No Waivers; Cumulative Remedies.............................................82
13.2 Severability................................................................83
13.3 Governing Law; Choice of Forum; Service of Process..........................83
13.4 WAIVER OF JURY TRIAL........................................................84
13.5 Survival of Representations and Warranties..................................84
13.6 Other Security and Guaranties...............................................84
13.7 Fees and Expenses...........................................................84
13.8 Notices.....................................................................85
13.9 Waiver of Notices...........................................................86
13.10 Binding Effect..............................................................86
13.11 Indemnity of the Agent and the Lenders by the Borrower......................87
13.12 Limitation of Liability.....................................................87
13.13 Final Agreement.............................................................88
13.14 Counterparts................................................................88
13.15 Captions....................................................................88
13.16 Right of Setoff.............................................................88
13.17 Confidentiality.............................................................89
13.18 Conflicts with Other Loan Documents.........................................89
13.19 Increases in Total Revolving Credit Commitment..............................90
{/Table}
iv
{Page}
ANNEXES, EXHIBITS AND SCHEDULES
{Table}
{S} {C}
ANNEX A - DEFINED TERMS
EXHIBIT A-1 - FORM OF REVOLVING LOAN NOTE
EXHIBIT A-2 - FORM OF TERM LOAN NOTE
EXHIBIT B - FORM OF BORROWING BASE CERTIFICATE
EXHIBIT C - FINANCIAL STATEMENTS
EXHIBIT D - FORM OF NOTICE OF BORROWING
EXHIBIT E - FORM OF NOTICE OF CONTINUATION/CONVERSION
EXHIBIT F - FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT
SCHEDULE 1.2 - LENDERS' COMMITMENTS (ANNEX A - DEFINED TERMS)
SCHEDULE 1.3 - EXCLUDED RETAIL SUBSIDIARIES
SCHEDULE 1.4 - TERM LOAN COLLATERAL
SCHEDULE 6.3 - ORGANIZATION AND QUALIFICATIONS
SCHEDULE 6.4 - CORPORATE NAMES; PRIOR TRANSACTIONS
SCHEDULE 6.5 - SUBSIDIARIES AND AFFILIATES
SCHEDULE 6.7 - CAPITALIZATION
SCHEDULE 6.9 - DEBT
SCHEDULE 6.11 - REAL ESTATE; LEASES
SCHEDULE 6.12 - PROPRIETARY RIGHTS
SCHEDULE 6.13 - TRADE NAMES
SCHEDULE 6.14 - LITIGATION
SCHEDULE 6.15 - UNION CONTRACTS; LABOR DISPUTES
SCHEDULE 6.16 - ENVIRONMENTAL LAW
SCHEDULE 6.19 - ERISA COMPLIANCE
v
{Page}
SCHEDULE 6.26 - MATERIAL AGREEMENTS
SCHEDULE 6.27 - BANK ACCOUNTS
SCHEDULE 7.5(a) - REAL PROPERTY EXCLUDED FROM FLOOD INSURANCE REQUIREMENT
SCHEDULE 7.9 - ASSETS HELD FOR SALE; ADI LOCATIONS
SCHEDULE 7.12 - GUARANTIES
SCHEDULE 7.28 - ADDITIONAL MORTGAGES
SCHEDULE A - COLI POLICIES
SCHEDULE B - ELIGIBLE REAL ESTATE
{/Table}
vi
{Page}
CREDIT AGREEMENT
This CREDIT AGREEMENT, dated as of July 27, 2001 (this
"AGREEMENT"), among the financial institutions from time to time parties hereto
(such financial institutions, together with their respective successors and
assigns, are referred to hereinafter each individually as a "LENDER" and
collectively as the "LENDERS"); BANK OF AMERICA, N.A., with an office at 55
South Lake Avenue, Suite 900, Pasadena, California 91101, as the administrative
agent for the Lenders (in its capacity as administrative agent, the "AGENT");
Citicorp USA, Inc., as the documentation agent (in its capacity as documentation
agent, the "DOCUMENTATION AGENT"); Heller Financial, Inc., as the syndication
agent (in its capacity as syndication agent, the "SYNDICATION AGENT"); FLEETWOOD
ENTERPRISES, INC., a Delaware corporation ("FLEETWOOD"), as a Guarantor;
FLEETWOOD HOLDINGS INC., a Delaware corporation ("HOLDINGS"); FLEETWOOD RETAIL
CORP., a Delaware corporation ("RETAIL"); and those Subsidiaries of Holdings and
Retail set forth on the signature pages hereto or which become parties hereto
hereafter in accordance with the requirements of this Agreement (each of
Holdings, Retail and each such Subsidiary individually, a "BORROWER" and,
collectively, the "BORROWERS"). Capitalized terms used in this Agreement and not
otherwise defined herein shall have the meanings ascribed thereto in ANNEX A,
which is attached hereto and incorporated herein; the rules of construction
contained therein shall govern the interpretation of this Agreement, and all
Annexes, Exhibits and Schedules attached hereto are incorporated herein by
reference.
W I T N E S S E T H:
WHEREAS, the Borrowers have requested the Lenders to make
available to the Borrowers a revolving line of credit for loans and letters of
credit in an aggregate amount not to exceed $230,000,000 and to make term loans
to FMC in the aggregate principal amount of $30,000,000, and which extensions of
credit the Borrowers will use for the purposes permitted hereunder;
WHEREAS, Holdings, Retail and their respective Subsidiaries
are wholly-owned Subsidiaries of Fleetwood and all Borrowers are engaged in an
inter-related business enterprise with an identity of interests, and accordingly
the financing provided hereunder will directly and indirectly benefit each of
the Borrowers;
WHEREAS, neither Holdings or its Subsidiaries nor Retail or
its Subsidiaries would be able to obtain sufficient working capital financing
for their respective businesses unless the individual FMC Borrowers and FRC
Borrowers were jointly and severally liable for the obligations of FMC or FRC,
as applicable, and unless Fleetwood guarantees the obligations of all Borrowers;
WHEREAS, FMC manufactures goods, a portion of which is sold to
FRC, and therefore the financing extended hereunder benefits both FMC and FRC;
WHEREAS, the Revolving Credit Lenders have agreed to make
available to the Borrowers a revolving credit facility and the Term Lenders have
agreed to make term loans to FMC upon the terms and conditions set forth in this
Agreement.
{Page}
NOW, THEREFORE, in consideration of the mutual conditions and
agreements set forth in this Agreement, and for good and valuable consideration,
the receipt of which is hereby acknowledged, the Lenders, the Agent, Fleetwood
and the Borrowers hereby agree as follows:
ARTICLE 1
LOANS AND LETTERS OF CREDIT
1.1 TOTAL FACILITY. Subject to all of the terms and conditions
of this Agreement, the Lenders agree to make available a total credit facility
of up to $260,000,000 (the "TOTAL FACILITY") to the Borrowers from time to time
during the term of this Agreement. The Total Facility shall be composed of a
revolving line of credit consisting of Revolving Loans and Letters of Credit and
the Term Loans described herein.
1.2 REVOLVING LOANS.
(a) (i) AMOUNTS. Subject to the satisfaction of the
conditions precedent set forth in ARTICLE 8, and except for
Non-Ratable Loans and Agent Advances, each Revolving Credit
Lender severally, but not jointly, agrees, upon a Borrower's
request from time to time on any Business Day during the
period from the Closing Date to the Termination Date, to make
revolving loans (the "REVOLVING LOANS") to the Borrowers in
aggregate amounts not to exceed such Lender's Pro Rata Share
of the Aggregate Availability, and, for Revolving Loans to
FMC, in an amount which does not exceed such Lender's Pro Rata
Share of FMC's Availability, or for Revolving Loans to FRC, in
an amount which does not exceed such Lender's Pro Rata Share
of FRC's Availability. The Revolving Credit Lenders, however,
in their unanimous discretion, may elect to make Revolving
Loans or issue or arrange to have issued Letters of Credit in
excess of the Aggregate Borrowing Bases or the Borrowing Base
of FMC or FRC, as applicable, on one or more occasions, but if
they do so, neither the Agent nor the Revolving Credit Lenders
shall be deemed thereby to have changed the limits of the
Borrowing Base of FMC or FRC, or the Aggregate Borrowing Bases
or to be obligated to exceed such limits on any other
occasion. If (x) the Aggregate Revolver Outstandings of FMC
would exceed its Availability after giving effect to any
Borrowing, or (y) the Aggregate Revolver Outstandings of FRC
would exceed its Availability after giving effect to any
Borrowing, the Revolving Credit Lenders may refuse to make or
may otherwise restrict the making of Revolving Loans to FMC or
FRC, as applicable, as the Revolving Credit Lenders determine
until such excess has been eliminated, subject to the Agent's
authority, in its sole discretion, to make Agent Advances
pursuant to the terms of SECTION 1.2(i).
(ii) At the request of any Revolving Credit
Lender, each of the FMC Borrowers and each of the FRC
Borrowers shall execute and deliver to such Lender a single
note to evidence the Revolving Loans of that Lender. Each note
shall be in the principal amount of the Revolving Credit
Lender's Pro Rata Share of the Revolving Loan Commitments,
dated the date hereof and substantially in the form of EXHIBIT
A-1 (each such note, together with any new note issued
2
{Page}
pursuant to SECTION 11.2 upon the assignment of any portion of
any Revolving Credit Lender's Revolving Loans and Revolving
Credit Commitment a "REVOLVING LOAN NOTE" and, collectively,
the "REVOLVING LOAN NOTES"). Each Revolving Loan Note shall
represent the obligation of each of FMC and FRC to pay the
amount of such Revolving Credit Lender's Pro Rata Share of the
Revolving Loan Commitments, or, if less, such Revolving Credit
Lender's Pro Rata Share of the aggregate unpaid principal
amount of all Revolving Loans to FMC or FRC, as applicable,
together with interest thereon as prescribed in SECTION 1.2.
The entire unpaid balance of the Revolving Loans and all other
non-contingent Obligations shall be immediately due and
payable in full in immediately available funds on the
Termination Date.
(b) PROCEDURE FOR BORROWING.
(i) Each Borrowing shall be made upon a
Borrower's irrevocable written notice delivered to the Agent
in the form of a notice of borrowing ("NOTICE OF BORROWING"),
which must be received by the Agent prior to (i) 10:00 a.m.
(Los Angeles time) three Business Days prior to the requested
Funding Date, in the case of LIBOR Rate Loans and (ii) 10:00
a.m. (Los Angeles time) on the requested Funding Date, in the
case of Base Rate Loans, specifying:
(1) the amount of the Borrowing,
which in the case of a LIBOR Rate Loan must equal or
exceed $1,000,000 (and increments of $500,000 in
excess of such amount);
(2) the requested Funding Date,
which must be a Business Day;
(3) whether the Revolving Loans
requested are to be Base Rate Revolving Loans or
LIBOR Rate Loans (and if not specified, it shall be
deemed a request for a Base Rate Revolving Loan); and
(4) the duration of the Interest
Period for LIBOR Rate Loans (and if not specified, it
shall be deemed a request for an Interest Period of
one month);
PROVIDED, HOWEVER, that with respect to the Borrowings to be
made on the Initial Funding Date, such Borrowings will consist
of Base Rate Revolving Loans only.
(ii) In lieu of delivering a Notice of Borrowing,
a Borrower may give the Agent telephonic notice of such
request for advances to its Designated Account on or before
the deadline set forth above. The Agent at all times shall be
entitled to rely on such telephonic notice in making such
Revolving Loans, regardless of whether any written
confirmation is received.
(iii) The Borrowers shall have no right to
request a LIBOR Rate Loan while a Default or Event of Default
has occurred and is continuing.
3
{Page}
(c) RELIANCE UPON AUTHORITY. Prior to the Closing
Date, the Borrowers shall deliver to the Agent a notice setting forth
the accounts of each of FMC and FRC (each, a "DESIGNATED ACCOUNT") to
which the Agent is authorized to transfer the proceeds of the Revolving
Loans requested hereunder by each of FMC and FRC. Any of FMC and FRC
may designate a replacement account from time to time by written
notice. All such Designated Accounts must be reasonably satisfactory to
389321
|
Fleetwood
As referenced in this Credit Agreement:
FLEETWOOD ENTERPRISES, INC – FINANCIAL INSTITUTIONS NAMED HEREIN,
AS THE LENDERS;
BANK OF AMERICA, N.A.,
AS THE ADMINISTRATIVE AGENT;
CITICORP USA, INC.,
AS THE DOCUMENTATION AGENT;
HELLER FINANCIAL, INC.,
AS THE SYNDICATION AGENT;
FLEETWOOD ENTERPRISES, INC .,
AS A GUARANTOR;
and
FLEETWOOD HOLDINGS INC., and certain of its Subsidiaries,
and
FLEETWOOD RETAIL CORP., and certain of its Subsidiaries,
AS THE BORROWERS.
{Page}
TABLE OF CONTENTS
{Table}
{
_____________
FLEETWOOD
ENTERPRISES, INC – Inc., as the documentation agent (in its capacity as documentation
agent, the "DOCUMENTATION AGENT"); Heller Financial, Inc., as the syndication
agent (in its capacity as syndication agent, the "SYNDICATION AGENT"); FLEETWOOD
ENTERPRISES, INC ., a Delaware corporation ("FLEETWOOD"), as a Guarantor;
FLEETWOOD HOLDINGS INC., a Delaware corporation ("HOLDINGS"); FLEETWOOD RETAIL
CORP., a Delaware corporation ("RETAIL"); and those Subsidiaries of Holdings and
Retail set
_____________
Fleetwood Enterprises, Inc – Watkins
633 West Fifth Street, Suite 4000
Los Angeles, California 90071
Attention: Mary B. Ruhl, Esq.
Telecopy No.: (213) 891-8763
If to Fleetwood or any Borrower:
Fleetwood Holdings Inc.
Fleetwood Enterprises, Inc .
Fleetwood Retail Corp., Inc.
3125 Myers Street
Riverside, California 92503
Attention: Chief Financial Officer
Telecopy No.: (909) 351-3373
Attention: General Counsel
Telecopy No.: (909) 351-3776
with copies
_____________
FLEETWOOD ENTERPRISES, INC – FLEETWOOD RETAIL CORP. OF NORTH CAROLINA
FLEETWOOD RETAIL CORP. OF OREGON
FLEETWOOD RETAIL CORP. OF VIRGINIA
By:
--------------------------------
Name: Boyd R. Plowman
Title: Senior Vice President and Chief
Financial Officer
"GUARANTOR" FLEETWOOD ENTERPRISES, INC ., as the
Guarantor
By:
--------------------------------
Name: Boyd R. Plowman
Title: Senior Vice President and Chief
Financial Officer
S-3
{Page}
"AGENT" BANK OF AMERICA, N.A., as the Agent
By:
--------------------------------
,
_____________
FLEETWOOD ENTERPRISES, INC – applicable rate during such
extension.
This promissory note is one of the Revolving Loan Notes
referred to in the Credit Agreement, dated as of _____ ___, 2001, by and among
FLEETWOOD ENTERPRISES, INC ., a Delaware corporation ("FLEETWOOD"), as a
Guarantor, FLEETWOOD HOLDINGS INC., a Delaware corporation ("HOLDINGS"),
FLEETWOOD RETAIL CORP., a Delaware corporation ("RETAIL") and those Subsidiaries
of Holdings and Retail set
_____________
dt 1490968
;
Citicorp USA
As referenced in this Credit Agreement:
CITICORP USA, INC – 10(m)
EXECUTION COPY
CREDIT AGREEMENT
Dated as of July 27, 2001
Among
THE FINANCIAL INSTITUTIONS NAMED HEREIN,
AS THE LENDERS;
BANK OF AMERICA, N.A.,
AS THE ADMINISTRATIVE AGENT;
CITICORP USA, INC .,
AS THE DOCUMENTATION AGENT;
HELLER FINANCIAL, INC.,
AS THE SYNDICATION AGENT;
FLEETWOOD ENTERPRISES, INC.,
AS A GUARANTOR;
and
FLEETWOOD HOLDINGS INC., and certain of its Subsidiaries,
and
FLEETWOOD RETAIL
_____________
Citicorp USA, Inc – N.A., with an office at 55
South Lake Avenue, Suite 900, Pasadena, California 91101, as the administrative
agent for the Lenders (in its capacity as administrative agent, the "AGENT");
Citicorp USA, Inc ., as the documentation agent (in its capacity as documentation
agent, the "DOCUMENTATION AGENT"); Heller Financial, Inc., as the syndication
agent (in its capacity as syndication agent, the "SYNDICATION AGENT");
_____________
CITICORP USA, INC – By:
--------------------------------
Name: Boyd R. Plowman
Title: Senior Vice President and Chief
Financial Officer
S-3
{Page}
"AGENT" BANK OF AMERICA, N.A., as the Agent
By:
--------------------------------
, Vice President
-------------------
"DOCUMENTATION AGENT" CITICORP USA, INC ., as the Documentation Agent
By:
--------------------------------
, Vice President
-------------------
S-4
{Page}
"SYNDICATION AGENT" HELLER FINANCIAL, INC., as the Syndication Agent
By:
--------------------------------
, Vice President
-------------------
"LENDERS" BANK OF AMERICA, N.A., as
_____________
CITICORP USA, INC – By:
--------------------------------
, Vice President
-------------------
S-4
{Page}
"SYNDICATION AGENT" HELLER FINANCIAL, INC., as the Syndication Agent
By:
--------------------------------
, Vice President
-------------------
"LENDERS" BANK OF AMERICA, N.A., as a Lender
By:
--------------------------------
, Vice President
-------------------
CITICORP USA, INC , as a Lender
By:
--------------------------------
, Vice President
-------------------
HELLER FINANCIAL, INC., as a Lender
By:
--------------------------------
, Vice President
-------------------
S-5
{Page}
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
--------------------------------
, Vice President
-------------------
S-6
{
_____________
Citicorp USA, Inc – AMERICA, N.A., with an office at 55 South Lake Avenue, Suite
900, Pasadena, California 91101, as administrative agent for the Lenders (in its
capacity as administrative agent, the "AGENT"), Citicorp USA, Inc ., as the
documentation agent (in its capacity as documentation agent, the "DOCUMENTATION
AGENT"), and Heller Financial, Inc., as the syndication agent (in its capacity
as syndication agent, the "SYNDICATION
_____________
dt 1368152
;
 BofA
As referenced in this Credit Agreement:
BANK OF AMERICA, N.A. – 10_m.txt
{DESCRIPTION}EXHIBIT 10(M)
{TEXT}
{Page}
EXHIBIT 10(m)
EXECUTION COPY
CREDIT AGREEMENT
Dated as of July 27, 2001
Among
THE FINANCIAL INSTITUTIONS NAMED HEREIN,
AS THE LENDERS;
BANK OF AMERICA, N.A. ,
AS THE ADMINISTRATIVE AGENT;
CITICORP USA, INC.,
AS THE DOCUMENTATION AGENT;
HELLER FINANCIAL, INC.,
AS THE SYNDICATION AGENT;
FLEETWOOD ENTERPRISES, INC.,
AS A GUARANTOR;
and
FLEETWOOD HOLDINGS INC., and
_____________
BANK OF AMERICA, N.A. – from time to time parties hereto
(such financial institutions, together with their respective successors and
assigns, are referred to hereinafter each individually as a "LENDER" and
collectively as the "LENDERS"); BANK OF AMERICA, N.A. , with an office at 55
South Lake Avenue, Suite 900, Pasadena, California 91101, as the administrative
agent for the Lenders (in its capacity as administrative agent, the "AGENT");
Citicorp
_____________
Bank of America, N.A. – notice by such a telecommunications device, when receipt is
confirmed, in each case addressed to the party to be notified as follows:
If to the Agent or to the Bank:
Bank of America, N.A.
55 South Lake Avenue, Suite 900
Pasadena, California 91101
Attention: Ruth Edwards
Telecopy No.: (626) 578-6143
85
{Page}
with copies to:
Latham & Watkins
633 West Fifth Street, Suite
_____________
BANK OF AMERICA, N.A. – Vice President and Chief
Financial Officer
"GUARANTOR" FLEETWOOD ENTERPRISES, INC., as the
Guarantor
By:
--------------------------------
Name: Boyd R. Plowman
Title: Senior Vice President and Chief
Financial Officer
S-3
{Page}
"AGENT" BANK OF AMERICA, N.A. , as the Agent
By:
--------------------------------
, Vice President
-------------------
"DOCUMENTATION AGENT" CITICORP USA, INC., as the Documentation Agent
By:
--------------------------------
, Vice President
-------------------
S-4
{Page}
"SYNDICATION AGENT" HELLER FINANCIAL, INC., as the Syndication
_____________
BANK OF AMERICA, N.A. – Vice President
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"DOCUMENTATION AGENT" CITICORP USA, INC., as the Documentation Agent
By:
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, Vice President
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"SYNDICATION AGENT" HELLER FINANCIAL, INC., as the Syndication Agent
By:
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, Vice President
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"LENDERS" BANK OF AMERICA, N.A. , as a Lender
By:
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, Vice President
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CITICORP USA, INC, as a Lender
By:
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, Vice President
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HELLER FINANCIAL, INC., as a Lender
By:
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, Vice President
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THE CIT
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dt 1554111
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BNY
As referenced in this Credit Agreement:
Bank of New York – average of the rates on overnight Federal funds transactions with
members of the Federal Reserve 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 not a Business Day,
the Federal Funds Rate for such day shall be such rate
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dt 1583538
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 Latham & Watkins
As referenced in this Credit Agreement:
Latham & Watkins – to the Bank:
Bank of America, N.A.
55 South Lake Avenue, Suite 900
Pasadena, California 91101
Attention: Ruth Edwards
Telecopy No.: (626) 578-6143
85
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with copies to:
Latham & Watkins
633 West Fifth Street, Suite 4000
Los Angeles, California 90071
Attention: Mary B. Ruhl, Esq.
Telecopy No.: (213) 891-8763
If to Fleetwood or any Borrower:
Fleetwood Holdings Inc.
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dt 1339083
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