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 | 2004 |
364-Day Credit Agreement
364-Day Credit Agreement (237K)
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364-DAY CREDIT AGREEMENT
Dated as of April 23, 2004
among
METLIFE, INC.
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.
as Borrowers,
BANK OF AMERICA, N.A.,
as Administrative Agent,
WACHOVIA CAPITAL MARKETS, LLC,
as Syndication Agent
CITIBANK, N.A.
and
JPMORGAN CHASE BANK,
as Co-Documentation Agents
and
The Other Lenders Party Hereto
BANC OF AMERICA SECURITIES LLC,
and
WACHOVIA CAPITAL MARKETS, LLC
as
Joint Lead Arrangers and Book Managers
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Section Page
------- ----
{S} {C}
ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS......................................... 1
1.01 Defined Terms............................................................... 1
1.02 Other Interpretive Provisions............................................... 17
1.03 Accounting Terms............................................................ 17
1.04 Rounding.................................................................... 18
1.05 References to Agreements and Laws........................................... 18
1.06 Times of Day................................................................ 18
ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS.................................... 18
2.01 Committed Loans............................................................. 18
2.02 Borrowings, Conversions and Continuations of Committed Loans................ 19
2.03 Bid Loans................................................................... 20
2.04 Prepayments................................................................. 23
2.05 Termination or Reduction of Commitments..................................... 23
2.06 Repayment of Loans.......................................................... 24
2.07 Interest.................................................................... 24
2.08 Fees........................................................................ 25
2.09 Computation of Interest and Fees............................................ 25
2.10 Evidence of Debt............................................................ 26
2.11 Payments Generally.......................................................... 26
2.12 Sharing of Payments......................................................... 28
ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY................................... 28
3.01 Taxes....................................................................... 28
3.02 Illegality.................................................................. 31
3.03 Inability to Determine Rates................................................ 31
3.04 Increased Cost and Reduced Return; Capital Adequacy......................... 32
3.05 Compensation for Losses..................................................... 32
3.06 Matters Applicable to all Requests for Compensation......................... 33
3.07 Survival.................................................................... 33
ARTICLE IV. REPRESENTATIONS AND WARRANTIES........................................... 33
4.01 Organization; Powers........................................................ 33
4.02 Authorization; Enforceability............................................... 33
4.03 Governmental Approvals; No Conflicts........................................ 34
4.04 Financial Condition; No Material Adverse Change............................. 34
4.05 Properties.................................................................. 34
4.06 Litigation and Environmental Matters........................................ 34
4.07 Compliance with Laws and Agreements......................................... 35
4.08 Investment and Holding Company Status....................................... 35
4.09 Taxes....................................................................... 35
4.10 ERISA....................................................................... 35
4.11 Disclosure.................................................................. 35
{/TABLE}
-i-
{PAGE}
TABLE OF CONTENTS
(continued)
{TABLE}
{CAPTION}
Section Page
------- ----
{S} {C}
4.12 Margin Stock................................................................ 36
ARTICLE V. CONDITIONS TO CREDIT EXTENSIONS.......................................... 36
5.01 Closing Date................................................................ 36
5.02 Each Credit Event........................................................... 37
ARTICLE VI. AFFIRMATIVE COVENANTS.................................................... 37
6.01 Financial Statements and Other Information.................................. 37
6.02 Notices of Defaults......................................................... 38
6.03 Existence; Conduct of Business.............................................. 39
6.04 Payment of Obligations...................................................... 39
6.05 Maintenance of Properties; Insurance........................................ 39
6.06 Books and Records; Inspection Rights........................................ 39
6.07 Compliance with Laws........................................................ 39
6.08 Use of Proceeds............................................................. 39
6.09 Support Agreement........................................................... 40
ARTICLE VII. NEGATIVE COVENANTS....................................................... 40
7.01 Liens....................................................................... 40
7.02 Fundamental Changes......................................................... 41
7.03 Transactions with Affiliates................................................ 42
7.04 Adjusted Statutory Surplus.................................................. 42
7.05 Consolidated Net Worth...................................................... 42
ARTICLE VIII. EVENTS OF DEFAULT........................................................ 42
8.01 Events of Default........................................................... 42
8.02 Remedies Upon Event of Default.............................................. 44
8.03 Application of Funds........................................................ 44
ARTICLE IX. ADMINISTRATIVE AGENT..................................................... 45
9.01 Appointment and Authorization of Administrative Agent....................... 45
9.02 Delegation of Duties........................................................ 45
9.03 Liability of Administrative Agent........................................... 45
9.04 Reliance by Administrative Agent............................................ 46
9.05 Notice of Default........................................................... 46
9.06 Credit Decision; Disclosure of Information by Administrative Agent.......... 46
9.07 Indemnification of Administrative Agent..................................... 47
9.08 Administrative Agent in its Individual Capacity............................. 47
9.09 Successor Administrative Agent.............................................. 48
9.10 Administrative Agent May File Proofs of Claim............................... 48
9.11 Other Agents; Joint Lead Arrangers and Book Managers........................ 49
{/TABLE}
-ii-
{PAGE}
TABLE OF CONTENTS
(continued)
{TABLE}
{CAPTION}
Section Page
------- ----
{S} {C}
ARTICLE X. MISCELLANEOUS............................................................ 49
10.01 Amendments, Etc............................................................. 49
10.02 Notices and Other Communications; Facsimile Copies.......................... 50
10.03 No Waiver; Cumulative Remedies.............................................. 51
10.04 [Intentionally Omitted]..................................................... 52
10.05 Costs, Expenses and Indemnification......................................... 52
10.06 Payments Set Aside.......................................................... 53
10.07 Successors and Assigns...................................................... 53
10.08 Confidentiality............................................................. 56
10.09 Set-off..................................................................... 57
10.10 Interest Rate Limitation.................................................... 57
10.11 Counterparts................................................................ 58
10.12 Integration................................................................. 58
10.13 Survival of Representations and Warranties.................................. 58
10.14 Severability................................................................ 58
10.15 Mitigation of Obligations; Replacement of Lenders........................... 58
10.16 Governing Law............................................................... 59
10.17 Waiver of Right to Trial by Jury............................................ 59
10.18 USA PATRIOT Act Notice...................................................... 60
{/TABLE}
-iii-
{PAGE}
1 SCHEDULES
2 2.01 Commitments and Pro Rata Shares
3 4.06 Disclosed Matters
4 10.02 Administrative Agent's Office, Certain Addresses for Notices
5 EXHIBITS
6 FORM OF
7
8 A Committed Loan Notice
9 B-1 Bid Request
10 B-2 Competitive Bid
11 C Note
12 D Assignment and Assumption
13 E Opinion
-iv-
{PAGE}
364-DAY CREDIT AGREEMENT
This 364-DAY CREDIT AGREEMENT ("Agreement") is entered into as of April
23, 2004, among METLIFE, INC. ("MetLife"), METROPOLITAN LIFE INSURANCE COMPANY
(the "Company") and METLIFE FUNDING, INC. ("Funding"; together with the Company
and MetLife, each a "Borrower" and collectively the "Borrowers"), each lender
from time to time party hereto (collectively, the "Lenders" and individually, a
"Lender"), WACHOVIA CAPITAL MARKETS, LLC, as Syndication Agent and BANK OF
AMERICA, N.A., as Administrative Agent.
The Borrowers have requested that the Lenders provide a revolving credit
facility and the Lenders are willing to do so on the terms and conditions set
forth herein.
In consideration of the mutual covenants and agreements herein contained,
the parties hereto covenant and agree as follows:
ARTICLE I.
DEFINITIONS AND ACCOUNTING TERMS
1.01 DEFINED TERMS. As used in this Agreement, the following terms shall
have the meanings set forth below:
"Absolute Rate" means a fixed rate of interest expressed in multiples of
1/100th of one basis point.
"Absolute Rate Loan" means a Bid Loan that bears interest at a rate
determined with reference to an Absolute Rate.
"Adjusted Statutory Surplus" means, at any time, the sum of (i) surplus
(calculated in accordance with the Statutory Statements), plus (ii) asset
valuation reserve (calculated in accordance with the Statutory Statements).
"Administrative Agent" means Bank of America in its capacity as
administrative agent under each of the Loan Documents, or any successor
administrative agent.
"Administrative Agent's Office" means the Administrative Agent's address
as set forth on Schedule 10.02, or such other address or account as the
Administrative Agent may from time to time notify the Borrowers and the Lenders.
"Administrative Questionnaire" means an Administrative Questionnaire in a
form supplied by the Administrative Agent.
"Affiliate" means, with respect to any Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is
Controlled by or is under common Control with the Person specified; provided
that, for the purposes of Section 10.07, any special purpose funding vehicle
that funds itself principally in the commercial paper market shall not
constitute an Affiliate of any Lender. "Control" means the possession, directly
or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the
1
{PAGE}
ability to exercise voting power, by contract or otherwise. "Controlling" and
"Controlled" have meanings correlative thereto.
"Agent-Related Persons" means the Administrative Agent, together with its
Affiliates (including, in the case of Bank of America in its capacity as the
Administrative Agent, the Arrangers), and the officers, directors, employees,
agents and attorneys-in-fact of such Persons and Affiliates.
"Aggregate Commitments" means the Commitments of all of the Lenders. On
the date hereof the Aggregate Commitments shall equal $1,000,000,000.
"Agreement" means this 364-Day Credit Agreement.
"Applicable Insurance Regulatory Authority" means the insurance department
or similar insurance regulatory or administrative authority or agency of the
jurisdiction in which the Company is domiciled.
"Applicable Rate" means, from time to time, the following percentages per
annum, based upon the Debt Rating of the applicable Borrower as set forth below:
{TABLE}
{CAPTION}
APPLICABLE RATE
DEBT RATING EURODOLLAR UTILIZATION TERM OUT
PRICING LEVEL S&P/MOODY'S FACILITY FEE RATE MARGIN BASE RATE FEE PREMIUM
------------- ----------- ------------ ----------- --------- ----------- -------
{S} {C} {C} {C} {C} {C} {C}
1 A+/A1 or better 0.060 0.190 0 0.050 0.100
2 A/A2 0.070 0.230 0 0.050 0.100
3 A-/A3 0.100 0.250 0 0.100 0.100
4 BBB+/Baa1 0.125 0.275 0 0.100 0.250
BBB/Baa2
5 or worse 0.150 0.375 0 0.125 0.250
{/TABLE}
"Debt Rating" means, as of any date of determination, the rating as
determined by either S&P or Moody's (collectively, the "Debt Ratings") of
the applicable Borrower's non-credit-enhanced, senior unsecured long-term
debt (or in the case of Funding, the non-credit-enhanced, senior unsecured
long-term debt of the Company) provided that if a Debt Rating is issued by
each of the foregoing rating agencies, then the higher of such Debt
Ratings shall apply (with the Debt Rating for Pricing Level 1 being the
highest and the Debt Rating for Pricing Level 5 being the lowest), unless
there is a split in Debt Ratings of more than one level, in which case the
Pricing Level that is one level higher than the Pricing Level of the lower
Debt Rating shall apply.
The Facility Fee shall be based on the Debt Rating of the lowest rated of the
Borrowers by S&P and Moody's. Initially, the Applicable Rate shall be determined
based upon Pricing Level 2. Thereafter, each change in the Applicable Rate
resulting from a publicly announced change in the Debt Rating shall be
effective, in the case of an upgrade, during the period commencing on the date
of the public announcement thereof and ending on the date immediately preceding
the effective date of the next such change and, in the case of a downgrade,
during the period commencing on the date of the public announcement thereof and
ending on the date immediately preceding the effective date of the next such
change.
2
{PAGE}
"Arrangers" mean Banc of America Securities LLC and Wachovia Capital
Markets, LLC, in their capacities as joint lead arrangers and book managers.
"Asset Securitization" means a public or private transfer of installment
receivables, credit card receivables, lease receivables, mortgage loan
receivables, policyholder loan receivables or any other type of secured or
unsecured financial assets, which transfer is recorded as a sale according to
GAAP as of the date of such transfer.
"Assignment and Assumption" means an Assignment and Assumption
substantially in the form of Exhibit D.
"Attorney Costs" means and includes all fees, expenses and disbursements
of any one law firm or other external counsel and, without duplication, in the
case of an Event of Default referred to in Section 8.01(h) or 8.01(i), the
allocated cost of internal legal services and all expenses and disbursements of
internal counsel.
"Attributable Indebtedness" means, on any date, in respect of any capital
lease of any Person, the capitalized amount thereof that would appear on a
balance sheet of such Person prepared as of such date in accordance with GAAP.
"Audited Financial Statements" means the audited consolidated balance
sheet of MetLife and its Subsidiaries for the fiscal year ended December 31,
2003, and the related consolidated statements of income, stockholders' equity
and cash flows for such fiscal year of MetLife and its Subsidiaries, including
312114
|
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK N.V.
– s/ Joselin Fernandes
______________________________
Name: Joselin Fernandes
______________________________
Title: Associate Director, Banking
Product Services, US
______________________________
364-Day Credit Agreement
S-13
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Neil R. Stein
______________________________
Name: Neil R. Stein
______________________________
Title: Group Vice President
______________________________
By: /s/ Michael DeMarco
______________________________
Name:
_____________
dt 341227
;
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.
as Borrowers,
BANK OF AMERICA, N.A.,
as Administrative Agent,
WACHOVIA CAPITAL MARKETS, LLC,
as Syndication Agent
CITIBANK, N.A.
and
JPMORGAN CHASE BANK,
as Co-Documentation Agents
and
The Other Lenders Party Hereto
BANC OF AMERICA SECURITIES LLC,
and
WACHOVIA CAPITAL
_____________
dt 341176
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – conclusively presumed to have acted on behalf of
such Loan Party.
"S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc . and any successor thereto.
"SAP" means the accounting procedures and practices prescribed or
permitted by the Applicable Insurance Regulatory Authority or the
_____________
dt 311940
;
MetLife
As referenced in this 364-Day Credit Agreement:
METLIFE, INC – AGREEMENT
{TEXT}
{PAGE}
EXHIBIT 10.2
EXECUTION COPY
================================================================================
Published CUSIP Number: 59157FAC7
364-DAY CREDIT AGREEMENT
Dated as of April 23, 2004
among
METLIFE, INC .
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.
as Borrowers,
BANK OF AMERICA, N.A.,
as Administrative Agent,
WACHOVIA CAPITAL MARKETS, LLC,
as
_____________
METLIFE, INC – E Opinion
-iv-
{PAGE}
364-DAY CREDIT AGREEMENT
This 364-DAY CREDIT AGREEMENT ("Agreement") is entered into as of April
23, 2004, among METLIFE, INC . ("MetLife"), METROPOLITAN LIFE INSURANCE COMPANY
(the "Company") and METLIFE FUNDING, INC. ("Funding"; together with the Company
and MetLife, each a "Borrower" and
_____________
METLIFE, INC – 60
{PAGE}
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.
METLIFE, INC .
By: /s/ Anthony J. Williamson
___________________________________________
Name: Anthony J. Williamson
_________________________________________
Title: Senior Vice President and Treasurer
________________________________________
METROPOLITAN LIFE INSURANCE COMPANY
_____________
dt 317007
;
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| 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (252K)
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364-DAY CREDIT AGREEMENT
dated as of
April 25, 2001
among
METLIFE, INC.
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.,
as Borrowers
The LENDERS Party Hereto
LEHMAN COMMERCIAL PAPER, INC.,
THE CHASE MANHATTAN BANK,
CITIBANK, N.A.
and
CREDIT SUISSE FIRST BOSTON,
as Co-Syndication Agents
and
BANK OF AMERICA, N.A.
as Administrative Agent
$1,250,000,000
BANC OF AMERICA SECURITIES LLC,
as Sole Lead Arranger and Book Manager
================================================================================
{PAGE} 2
TABLE OF CONTENTS
Page
----
ARTICLE I Definitions.......................................................1
SECTION 1.1 Defined Terms..............................................1
SECTION 1.2 Classification of Loans and Borrowings....................15
SECTION 1.3 Terms Generally...........................................15
SECTION 1.4 Accounting Terms; GAAP; SAP...............................16
ARTICLE II The Credits...............................................16
SECTION 2.1 Commitments...............................................16
SECTION 2.2 Loans and Borrowings......................................16
SECTION 2.3 Requests for Revolving Borrowings.........................17
SECTION 2.4 Competitive Bid Procedure.................................18
SECTION 2.5 Funding of Borrowings.....................................20
SECTION 2.6 Interest Elections........................................21
SECTION 2.7 Termination and Reduction of Commitments..................22
SECTION 2.8 Repayment of Loans; Evidence of Debt......................23
SECTION 2.9 Prepayment of Loans.......................................24
SECTION 2.10 Fees......................................................24
SECTION 2.11 Interest..................................................25
SECTION 2.12 Alternate Rate of Interest................................26
SECTION 2.13 Increased Costs...........................................26
SECTION 2.14 Break Funding Payments....................................27
SECTION 2.15 Taxes.....................................................28
SECTION 2.16 Payments Generally; Pro Rata Treatment;
Sharing of Set-offs.......................................29
SECTION 2.17 Mitigation Obligations; Replacement of Lenders............30
SECTION 2.18 Extension of Termination Date.............................31
SECTION 2.19 Extension of Maturity Date................................33
ARTICLE III THE LETTERS OF CREDIT............................................33
SECTION 3.1 Amounts and Terms of L/C Commitments......................33
SECTION 3.2 Issuance, Amendment and Renewal of Letters of Credit......34
SECTION 3.3 Drawing and Reimbursements................................35
SECTION 3.4 Repayment of L/C Advances ................................38
SECTION 3.5 Role of the Lenders ......................................38
(i)
{PAGE} 3
TABLE OF CONTENTS
(Continued)
Page
----
SECTION 3.6 Obligations Absolute .....................................39
SECTION 3.7 Risk Participations, Drawings and Reimbursements .........40
SECTION 3.8 Cash Collateral Pledge; Repayment of L/C Advances.........40
SECTION 3.9 Letter of Credit Fees.....................................40
SECTION 3.10 Uniform Customs and Practice .............................41
SECTION 3.11 Applicant.................................................41
ARTICLE IV REPRESENTATIONS AND WARRANTIES...................................41
SECTION 4.1 Organization; Powers......................................41
SECTION 4.2 Authorization; Enforceability.............................41
SECTION 4.3 Governmental Approvals; No Conflicts......................42
SECTION 4.4 Financial Condition; No Material Adverse Change...........42
SECTION 4.5 Properties................................................42
SECTION 4.6 Litigation and Environmental Matters......................42
SECTION 4.7 Compliance with Laws and Agreements.......................43
SECTION 4.8 Investment and Holding Company Status.....................43
SECTION 4.9 Taxes.....................................................43
SECTION 4.10 ERISA.....................................................43
SECTION 4.11 Disclosure................................................43
SECTION 4.12 Margin Stock..............................................44
ARTICLE V CONDITIONS.......................................................44
SECTION 5.1 Effective Date............................................44
SECTION 5.2 Each Credit Event.........................................45
ARTICLE VI AFFIRMATIVE COVENANTS............................................45
SECTION 6.1 Financial Statements and Other Information................45
SECTION 6.2 Notices of Defaults.......................................46
SECTION 6.3 Existence; Conduct of Business............................46
SECTION 6.4 Payment of Obligations....................................46
SECTION 6.5 Maintenance of Properties; Insurance......................46
SECTION 6.6 Books and Records; Inspection Rights......................47
SECTION 6.7 Compliance with Laws......................................47
SECTION 6.8 Use of Proceeds...........................................47
(ii)
{PAGE} 4
TABLE OF CONTENTS
(Continued)
Page
----
SECTION 6.9 Support Agreement.........................................47
ARTICLE VII NEGATIVE COVENANTS...............................................47
SECTION 7.1 Liens.....................................................47
SECTION 7.2 Fundamental Changes.......................................49
SECTION 7.3 Transactions with Affiliates..............................49
SECTION 7.4 Adjusted Statutory Surplus................................49
ARTICLE VIII EVENTS OF DEFAULT................................................49
ARTICLE IX AGENTS...........................................................52
SECTION 9.1 Administrative Agent......................................52
SECTION 9.2 L/C Administrator.........................................54
SECTION 9.3 Co-Syndication Agents.....................................54
ARTICLE X MISCELLANEOUS....................................................54
SECTION 10.1 Notices...................................................54
SECTION 10.2 Waivers; Amendments.......................................54
SECTION 10.3 Expenses; Indemnity: Damage; Waiver.......................55
SECTION 10.4 Successors and Assigns....................................56
SECTION 10.5 Survival..................................................59
SECTION 10.6 Counterparts; Integration; Effectiveness..................59
SECTION 10.7 Severability..............................................60
SECTION 10.8 Right of Setoff...........................................60
312324
|
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – METLIFE, INC.
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.,
as Borrowers
The LENDERS Party Hereto
LEHMAN COMMERCIAL PAPER, INC.,
THE CHASE MANHATTAN BANK,
CITIBANK, N.A.
and
CREDIT SUISSE FIRST BOSTON,
as Co-Syndication Agents
and
BANK OF AMERICA, N.A.
as Administrative Agent
$1,250,000,000
_____________
CITIBANK, N.A. – INC. ("Funding" and together with the Company and MetLife, the
"Borrowers"); the LENDERS party hereto; LEHMAN COMMERCIAL PAPER, INC., THE CHASE
MANHATTAN BANK, CITIBANK, N.A. and CREDIT SUISSE FIRST BOSTON, as Co-Syndication
Agents and BANK OF AMERICA, N.A., as Administrative Agent.
The parties hereto agree
_____________
CITIBANK, N.A. – N.A.
individually and as
Administrative Agent,
By: /s/ Leslie Reed
-----------------------------
Leslie Reed
Vice President
364-Day Credit Agreement
S-2
{PAGE} 69
CITIBANK, N.A.
By: /s/ Sandra Heim
------------------------------
Sandra Heim
Vice President
364-Day Credit Agreement
S-3
{PAGE} 70
CREDIT SUISSE FIRST BOSTON
By: /s/
_____________
Citibank, N.A. – Agreement"),
among MetLife, Inc., Metropolitan Life Insurance Company, MetLife Funding, Inc.;
the Lenders named therein, Lehman Commercial Paper, Inc., The Chase Manhattan
Bank, Citibank, N.A. and Credit Suisse First Boston, as Co-Syndication Agents
and Bank of America, N.A., as Administrative Agent for the Lenders. Terms
_____________
Citibank, N.A. – as of April 25, 2001 (the "Credit Agreement"), among the Borrowers, the
lenders named therein, Lehman Commercial Paper, Inc., The Chase Manhattan Bank,
Citibank, N.A. and Credit Suisse First Boston, as Co-Syndication Agents and Bank
of America, N.A., as Administrative Agent, providing for loans to
_____________
dt 341180
;
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – or
permitted by the Applicable Insurance Regulatory Authority or the NAIC.
"S&P" means Standard & Poor's Ratings Group, a division of The
McGraw-Hill Companies, Inc ., and any successor thereto.
"SEC" means the Securities and Exchange Commission or any
governmental authority succeeding to its principal functions.
"SPC" has
_____________
dt 346112
;
|
MetLife
As referenced in this 364-Day Credit Agreement:
METLIFE, INC – txt
{DESCRIPTION}364-DAY CREDIT AGREEMENT
{TEXT}
{PAGE} 1
EXHIBIT 10.21
================================================================================
364-DAY CREDIT AGREEMENT
dated as of
April 25, 2001
among
METLIFE, INC .
METROPOLITAN LIFE INSURANCE COMPANY
METLIFE FUNDING, INC.,
as Borrowers
The LENDERS Party Hereto
LEHMAN COMMERCIAL PAPER, INC.,
THE CHASE MANHATTAN BANK,
CITIBANK,
_____________
METLIFE,
INC – the Borrowers
Exhibit C - Form of L/C Application
(iv)
{PAGE} 6
364-DAY CREDIT AGREEMENT dated as of April 25, 2001, among METLIFE,
INC . ("MetLife") METROPOLITAN LIFE INSURANCE COMPANY (the "Company") and METLIFE
FUNDING INC. ("Funding" and together with the Company and MetLife, the
"Borrowers"); the
_____________
MetLife, Inc – except that the Maturity
Date may be extended pursuant to Section 2.19 hereof.
364-Day Credit Agreement
11
{PAGE} 17
"MetLife" means MetLife, Inc ., a Delaware corporation.
"Multiemployer Plan" means a multiemployer plan as defined in
Section 4001(a)(3) of ERISA.
"NAIC" means the National
_____________
METLIFE, INC – hereto have caused this Agreement
to be duly executed by their respective authorized officers as of the day and
year first above written.
METLIFE, INC .
By: /s/ Leland C. Launer, Jr.
--------------------------------
Leland C. Launer, Jr.
Treasurer
METROPOLITAN LIFE INSURANCE
COMPANY
By: /s/ Leland C. Launer, Jr.
-------------------------------
Leland
_____________
MetLife, Inc – to the Credit Agreement dated as of April
25, 2001 (as amended and in effect on the date hereof, the "Credit Agreement"),
among MetLife, Inc ., Metropolitan Life Insurance Company, MetLife Funding, Inc.;
the Lenders named therein, Lehman Commercial Paper, Inc., The Chase Manhattan
Bank, Citibank, N.A.
_____________
dt 317196
;
 BofA Securities
As referenced in this 364-Day Credit Agreement:
BANC OF AMERICA SECURITIES LLC – A.
and
CREDIT SUISSE FIRST BOSTON,
as Co-Syndication Agents
and
BANK OF AMERICA, N.A.
as Administrative Agent
$1,250,000,000
BANC OF AMERICA SECURITIES LLC ,
as Sole Lead Arranger and Book Manager
================================================================================
{PAGE} 2
TABLE OF CONTENTS
Page
----
ARTICLE I Definitions.......................................................1
SECTION 1.1 Defined Terms..............................................
_____________
Banc of America Securities LLC – letter of credit,
the Borrower or other Subsidiary of MetLife applying for such Letter of Credit
pursuant to Section 3.2.
"Arranger" means Banc of America Securities LLC , as sole Lead
Arranger and Bank Manager.
"Asset Securitization" means a public or private transfer of
installment receivables, credit card receivables, lease
_____________
dt 326602
;
More... |
Preview
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
|
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
;
Bank of Montreal
As referenced in this 364-Day Credit Agreement [Amended and Restated No. 2]:
BANK OF MONTREAL
– COMPANY
By:
----------------------------------------
Name:
Title:
U.S. BANK NATIONAL ASSOCIATION
By:
----------------------------------------
Name:
Title:
Second Amended and Restated 364-Day Credit Agreement
----------------------------------------------------
{PAGE} 10
-9-
BANK OF MONTREAL
By:
----------------------------------------
Name:
Title:
BANQUE NATIONALE DE PARIS
By:
----------------------------------------
Name:
Title:
By:
----------------------------------------
Name:
Title:
DEN DANSKE BANK AKTIESELSKAB
CAYMAN ISLANDS BRANCH
By:
----------------------------------------
Name:
_____________
Bank of Montreal – 000,000
Northern Trust Company 40,000,000
Royal Bank of Canada 40,000,000
U.S. Bank National Association 25,000,000
Bank of Montreal 25,000,000
Banque Nationale de Paris 25,000,000
Den Danske Bank 25,000,000
PNC Bank National Association 25,000,
_____________
dt 340010
;
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| 2003 |
Adoption Agreement
Adoption Agreement (526K)
Doc #187126: Click preview link for longer preview.
METROPOLITAN LIFE INSURANCE COMPANY
ADOPTION AGREEMENT
FOR A
NON-STANDARDIZED
401(k)/PROFIT SHARING PLAN
BY SIGNING THIS ADOPTION AGREEMENT, YOU (THE EMPLOYER) ARE ADOPTING OR AMENDING
A 401(k)/PROFIT SHARING PLAN FOR THE BENEFIT OF YOUR ELIGIBLE EMPLOYEES. THE
TERMS OF THE PLAN ARE CONTAINED IN THE METROPOLITAN LIFE INSURANCE COMPANY
DEFINED CONTRIBUTION BASIC PLAN DOCUMENT AND IN THIS ADOPTION AGREEMENT.
PLEASE FILL OUT THIS ADOPTION AGREEMENT COMPLETELY AND PROPERLY. FAILURE TO DO
SO MAY RESULT IN PLAN DISQUALIFICATION. PLEASE TYPE OR PRINT CLEARLY WITH A PEN;
DO NOT USE A PENCIL. PLEASE MAKE A COPY OF THIS ADOPTION AGREEMENT FOR YOUR
RECORDS.
PART A - GENERAL INFORMATION (PLAN SECTIONS 2.9, 2.20)
--------------------------------------------------------------------------------
A.1 NAME OF PLAN: This Plan shall be known as the Select Comfort Profit
---------------------
Sharing and 401(k) Plan
-----------------------
A.2. NAME OF THE EMPLOYER: Select Comfort Corporation
--------------------------
A.3. EMPLOYER TAX IDENTIFICATION NUMBER: 41-1597886
----------
A.4. EMPLOYER'S ADDRESS: 6104 Trenton Lane North, Plymouth, MN 55442
-------------------------------------------
A.5. EMPLOYER'S TELEPHONE NUMBER: (763) 551-8770
--------------
A.6. TYPE OF BUSINESS ENTITY:
[ ] Sole Proprietor [ ] S Corporation
[ ] Partnership |X| C Corporation
[ ] Limited Liability Partnership [ ] Tax-Exempt Organization
[ ] Limited Liability Company [ ] Governmental Entity
[ ] Other
-----------------
A.7. DATE EMPLOYER'S BUSINESS COMMENCED: February 1987
-------------
A.8. LAST DAY OF EMPLOYER'S TAXABLE YEAR: December 31
-----------
(month/day)
A.9. PLAN NUMBER: 001
---
(C) 2000, METROPOLITAN LIFE INSURANCE COMPANY
ALL RIGHTS RESERVED.
1
{PAGE}
A.10. PLAN YEAR (PLAN SECTION 2.23)
The Plan Year is the Employer's Taxable Year unless another 12
consecutive month period is selected below.
[ ] Indicate last day of Plan Year if other than the Employer's
Taxable Year ___________
(month/day)
[ ] For short Plan Years created by this Adoption Agreement, the
Plan Year will be the period commencing on ___________ and
ending on ___________; (month/day)
(month/day)
thereafter, the Plan Year will be the 12 month period ending
on ___________.
(month/day)
A.11. LIMITATION YEAR (PLAN SECTION 13.1(h))
For the purpose of determining whether the Plan has limited the
Participants' Annual Additions under IRC Section 415, the Limitation
Year is the Plan Year.
A.12. NAME OF PLAN(S) BEING AMENDED: Select Comfort Profit Sharing and
401(k) Plan ---------------------------------
-----------
Original Effective Date(s): January 1, 1994
---------------
A.13. ADOPTION OR AMENDMENT OF PLAN (COMPLETE ONE OF THE FOLLOWING.)
(PLAN SECTION 2.6)
[ ] The Effective Date of the new Plan established by the
execution of this Adoption Agreement is: _________ (CANNOT BE
EARLIER THAN THE FIRST DAY OF THE PLAN YEAR IN WHICH THIS PLAN
IS ADOPTED. PLEASE NOTE, HOWEVER, THAT UNDER NO CIRCUMSTANCES
MAY 401(k) SAVINGS CONTRIBUTIONS COMMENCE PRIOR TO THE DATE
THIS PLAN IS ADOPTED.)
|X| The Effective Date of Amendment(s) adopted by the execution of
this Adoption Agreement is: January 1, 1997 unless specified
otherwise. --------------------------------
----------
(SPECIAL NOTE: IF THIS PLAN IS ADOPTED OR AMENDED EFFECTIVE AS OF THE 1997,
1998, 1999, 2000 OR 2001 PLAN YEAR, THEN THE PROVISIONS OF SECTIONS C.3 (SAFE
HARBOR CONTRIBUTIONS), C.6 (ADP/ACP TESTING METHOD), C.7, (DETERMINATION OF
HIGHLY COMPENSATED EMPLOYEES) D.8 (MINIMUM DISTRIBUTIONS AND CASH-OUT OF ACCOUNT
BALANCES) ARE EFFECTIVE FOR THE 2002 PLAN YEAR AND LATER. THE OPERATION OF THE
PROVISIONS OF THESE SECTIONS DURING THE 1997-2001 PLAN YEARS, TO THE EXTENT
APPLICABLE, IS REFLECTED IN SECTION G OF THIS ADOPTION AGREEMENT)
A.14. FROZEN PLAN AMENDMENT
[ ] EFFECTIVE ______________, THIS PLAN IS FROZEN. ALL
CONTRIBUTIONS TO THE PLAN WILL CEASE AND NO NEW PARTICIPANTS
WILL BE ALLOWED TO ENTER THE PLAN. (If elected, skip Parts B
and C.1 - C.5. Go directly to Part C.6.).
187126
| | Select Comfort Corp
|
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| 2001 |
Adoption Agreement
Adoption Agreement (409K)
Doc #246666: Click preview link for longer preview.
Metropolitan Life Insurance Company
ADOPTION AGREEMENT
for a
NON-STANDARDIZED
401(k) PLAN
By signing this Adoption Agreement, you (the employer) are adopting or
amending a 401(k)/profit sharing plan for the benefit of your eligible
employees. The terms of the plan are contained in the Metropolitan Life
Insurance Company Defined Contribution Basic Plan Document and in this
Adoption Agreement.
You should submit this non-standardized plan to your Internal Revenue
Service Key District Office for a determination that it is a tax-qualified
plan.
Please fill out this Adoption Agreement completely and properly. Failure to
do so may result in plan disqualification. Please type or print clearly
with a pen; do not use a pencil. Please make a copy of this Adoption
Agreement for your records.
PART A - GENERAL INFORMATION
A.1. NAME OF PLAN: This plan shall be known as the:
Interpool, Inc. Employee Savings Plan
A.2. NAME OF THE EMPLOYER: Interpool, Inc.
A.3. EMPLOYER TAX IDENTIFICATION NUMBER: 13-3467669
A.4. EMPLOYER'S ADDRESS: 211 College Road East
Princeton, NJ 08540
A.5. PLAN ADMINISTRATOR (If not the Employer):
ADDRESS:
A.6. TYPE OF BUSINESS ENTITY: |_| Partnership
|_| Limited Liability Partnership |_| Sole Proprietor
|_| Limited Liability Company |X| C Corporation
|_| S Corporation |_| Governmental Entity
|_| Tax-Exempt Organization |_| Other
A.7. DATE EMPLOYER'S BUSINESS COMMENCED: 1968
A.8. LAST DAY OF EMPLOYER'S TAXABLE YEAR: 12/31
--------------------------------
(month/day)
A.9. PLAN NUMBER: 002
---------
A.10. PLAN YEAR:
The plan year is the employer's Taxable Year unless another 12
consecutive month period is selected below.
Indicate last day of plan year if other than the Employer's
Taxable Year
------------------
(month/day)
|_| The period commencing on ____________________ and ending on
_______________; thereafter, the 12 month period commencing
on _______________________ and each anniversary thereof.
The limitation year is the plan year unless another 12-month
period is selected below:
|_| the limitation year will be from _________________________
to _______________________
A.11. NAME OF AMENDED PLAN:
Interpool, Inc. Employee Savings Plan
Original Effective Date: 7/1/1993
--------------------------------
A.12. ADOPTION OR AMENDMENT OF PLAN (complete either A., B. or C.)
A. The effective date of the new plan established by the
execution of this Adoption Agreement is: __________________
B. The effective date of amendments adopted by the execution
of this Adoption Agreement is: 9/1/2001
C. The effective date of this amendment to an earlier
Metropolitan Life Insurance Company Adoption Agreement
is: _____________________
PART B - PARTICIPATION
B.1. ELIGIBILITY (Plan ss.4.2)
There will be no age requirement unless checked below.
|_| An employee must have attained the age of _____________
(may not be greater than 21).
There will be no service requirement unless checked below.
|_| One year of service.
|_| _____ Months of Service (not to exceed 12) (If less than one
year of service is selected, the 1,000 hour of service
requirement for eligibility cannot be used.)
If the year(s) of service selected is or includes a fractional
year, an employee will not be required to complete any specified
number of hours of service to receive credit for such fractional
year.
|_| If checked, the above eligibility requirements apply for
purposes of eligibility to receive employer matching
contributions or employer profit-sharing contributions
and the following eligibility requirements apply for
purposes of eligibility to have 401(k) savings
contributions made on an employee's behalf or for an
employee to make after-tax savings contributions:
There will be no age requirement unless checked below.
|_| An employee must have attained the age of _______
(may not be greater than 21).
There will be no service requirement unless checked
below.
|_| One year of service.
|_| Months of Service (not to exceed 12). (If less than
one year of service is selected, the 1,000 hour of
service requirement for eligibility cannot be
used.)
If the year(s) of service selected is or includes a
fractional year, an employee will not be required
to complete any specified number of hours of
service to receive credit for such fractional year.
|_| Waiver of Requirements for New or Amended Plan.
If checked, each employee employed on the effective date
is automatically eligible to participate. Employees hired
after the effective date or amendment date are eligible
upon satisfying any service and/or age requirement.
B.2 SERVICE RULES (Plan ss.3A.2)
(a) Select one of the methods of measuring eligibility
service below.
|_| Hours of Service Method. (Plan ss. 3A)
An employee's service will be determined by
counting hours of service.
The employee must complete _____ hours of
service during a computation period to be
credited with a year of service. (Insert number;
cannot exceed 1,000.)
Hours of Service. An employee is credited with
his actual hours of service. However, if the
Employer checks one of the following boxes, an
employee is credited with the number of hours
specified:
|_| 10 hours per day
|_| 45 hours per week
|_| 95 hours per half month
|_| 190 hours per month
|X| Elapsed Time Method. (Plan ss.3B)
An employee's service will be determined using
the elapsed time method.
(b) Computation Periods. (Plan ss.3A or 3B)
For eligibility purposes, computation periods are used to
measure an employee's years of service.
|_| If checked, an employee's computation periods
are his first employment year, the first plan
year beginning within his first employment year,
and subsequent plan years. (Cannot be selected
if the Elapsed Time Method is chosen in (a)
above.)
|X| If checked, computation periods are an
employee's employment years.
B.3. Prior service with other businesses. (Planss.3A.10(c) or 3B.6(c))
(a) Predecessor Employers.
List any predecessor employer (other than the employer
adopting this plan, any related employer, or an employer
which previously carried on the employer's business) for
which service will count for eligibility and vesting
purposes.
Transamerica Leasing, Inc.
(b) Related Employers. (Plan ss. 3A.10 or 3B.6)
Years of service with the entities related to the employer
in the manner described in Code ss. 414(b), (c), (m), or (o)
shall include years before such entities were so related
unless otherwise noted below. List entities and special
restrictions:
B.4. ENTRY DATES (Plan ss. 4.3)
The plan's entry dates will be the first day of each of the first
and seventh months of the plan year, unless more frequent entry
dates are selected below:
246666
|
Interpool
As referenced in this Adoption Agreement:
Interpool, – A - GENERAL INFORMATION
A.1. NAME OF PLAN: This plan shall be known as the:
Interpool, Inc. Employee Savings Plan
A.2. NAME OF THE EMPLOYER: Interpool, Inc.
A.3.
_____________
Interpool, – be known as the:
Interpool, Inc. Employee Savings Plan
A.2. NAME OF THE EMPLOYER: Interpool, Inc.
A.3. EMPLOYER TAX IDENTIFICATION NUMBER: 13-3467669
A.4. EMPLOYER'S ADDRESS:
_____________
Interpool, – the limitation year will be from _________________________
to _______________________
A.11. NAME OF AMENDED PLAN:
Interpool, Inc. Employee Savings Plan
Original Effective Date: 7/1/1993
--------------------------------
A.12. ADOPTION OR
_____________
Interpool – of such related employer.
The following employer hereby adopts the plan:
Name of related employer: Interpool Limited
----------------------------------
Employer identification number: 13-2622821
----------------------------
Signature:
-------------------------------------------------------
Name and title: William Geoghan, Senior Vice President
-------------------------------------------------
_____________
dt 75125
;
|
TLI
As referenced in this Adoption Agreement:
Transamerica Leasing, Inc – related employer, or an employer
which previously carried on the employer's business) for
which service will count for eligibility and vesting
purposes.
Transamerica Leasing, Inc .
(b) Related Employers. (Plan ss. 3A.10 or 3B.6)
Years of service with the entities related to the employer
in the
_____________
dt 102863
|
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Full Doc
| 2003 |
Automatic Reinsurance Agreement
Automatic Reinsurance Agreement (125K)
Doc #165293: Click preview link for longer preview.
AUTOMATIC REINSURANCE AGREEMENT
Between
METLIFE INVESTORS INSURANCE COMPANY OF CALIFORNIA
and
EXETER REASSURANCE COMPANY, LTD.
AGREEMENT NO.____
{PAGE}
THIS REINSURANCE AGREEMENT (the "Agreement") is made as of June 26, 2001 by and
between METLIFE INVESTORS INSURANCE COMPANY OF CALIFORNIA ("Cedent"), a life
insurance corporation organized and existing under the laws of California and
having it's principal place of business at Newport Beach, CA, and EXETER
REASSURANCE COMPANY, LTD. ("Reinsurer"), a life insurance corporation organized
and existing under the laws of Bermuda and having its principal place of
business at Clarendon House, 2 Church Street, Hamilton HM DX, Bermuda.
THE BACKGROUND OF THIS AGREEMENT is that the Reinsurer has heretofore assumed,
as of the date hereof, quota share portions of certain ceded annuity contract
liabilities on Riders, listed in the attached Schedules, (the "Reinsured
Contract(s)") issued by MetLife Investors Insurance Company of California.
THIS AGREEMENT provides for the indemnity cession of a portion of the ceded
liabilities of the Cedents with respect to the Reinsured Contracts and binds the
Cedent and the Reinsurer and their successors and permitted assignees,
respectively. This Agreement shall not create any right or legal relation
whatever between the Reinsurer and any Cedent or any insured, owner, annuitant,
beneficiary or other party to any Reinsured Contract.
THEREFORE, in consideration of the promises set forth in this Agreement, the
parties agree as follows:
Page 1
{PAGE}
ARTICLE I
SCOPE OF AGREEMENT
A. This Agreement shall be effective as of April 1, 2001 (the "Effective
Date"). The Cedent may cede and the Reinsurer may accept, as indemnity
cessions hereunder, proposed Reinsured Contracts that are issued by the
Cedent on and after the Effective Date through June 30, 2001. While
this Agreement continues in effect, the Cedent shall cede and the
Reinsurer shall accept, as indemnity cessions hereunder, Reinsured
Contracts that are issued by the Cedent on and after July 1, 2001.
B. Guaranteed Minimum Death Benefit and Earnings Preservation Benefit
1. The indemnity cession shall be the share of the MNAR (defined
in Article IV) that is generated, prior to the termination of
the Reinsurer's liability (defined in Article II), by the
Guaranteed Minimum Death Benefit ("GMDB") and Earnings
Preservation Benefit ("EPB") provisions of the Reinsured
Contracts, as specified in Schedule A.
2. The Reinsurer's maximum aggregate VNAR (defined in Article IV)
liability has no calculated aggregate limit.
3. The Reinsurer's annual aggregate SCNAR and EEMNAR (defined in
Article IV) liability has no independently calculated annual
aggregate liability limit.
4. The Reinsurer's maximum MNAR liability on any individual life
reinsured hereunder has no calculated aggregate limit.
5. This Agreement covers only the Cedent's contractual liability
for reinsured claims paid under variable annuity contract
forms specified in Schedule A and supported by investment
funds specified in Schedule B and its Amendments that were
submitted to the Reinsurer in accordance with the terms of
this Agreement as set forth in Article XV.
C. Guaranteed Minimum Income Benefit
1. The indemnity cession shall be the share of the IBNAR (defined
in Article IV) that is generated prior to the termination of
the Reinsurer's liability (defined in Article II), by the
Guaranteed Minimum Income Benefit Rider (the "Income Program")
provisions of the Reinsured Contracts, as specified in
Schedule A.
2. The Reinsurer's maximum aggregate IBNAR (defined in Article
IV) liability incurred in any one calendar year has no
165293
| MetLife Investors Insurance Company of California;
| Exeter Reassurance Company, Ltd.;
Metlife Investors Variable Annuity Account Five
|
Preview
Full Doc
| 2003 |
Automatic Reinsurance Agreement
Automatic Reinsurance Agreement (125K)
Doc #165950: Click preview link for longer preview.
AUTOMATIC REINSURANCE AGREEMENT
Between
METLIFE INVESTORS INSURANCE COMPANY
and
EXETER REASSURANCE COMPANY, LTD.
AGREEMENT NO.____
{PAGE}
THIS REINSURANCE AGREEMENT (the "Agreement") is made as of June 26, 2001 by and
between METLIFE INVESTORS INSURANCE COMPANY ("Cedent"), a life insurance
corporation organized and existing under the laws of Missouri and having it's
principal place of business at Newport Beach, CA, and EXETER REASSURANCE
COMPANY, LTD. ("Reinsurer"), a life insurance corporation organized and existing
under the laws of Bermuda and having its principal place of business at
Clarendon House, 2 Church Street, Hamilton HM DX, Bermuda.
THE BACKGROUND OF THIS AGREEMENT is that the Reinsurer has heretofore assumed,
as of the date hereof, quota share portions of certain ceded annuity contract
liabilities on Riders, listed in the attached Schedules, (the "Reinsured
Contract(s)") issued by MetLife Investors Insurance Company.
THIS AGREEMENT provides for the indemnity cession of a portion of the ceded
liabilities of the Cedents with respect to the Reinsured Contracts and binds the
Cedent and the Reinsurer and their successors and permitted assignees,
respectively. This Agreement shall not create any right or legal relation
whatever between the Reinsurer and any Cedent or any insured, owner, annuitant,
beneficiary or other party to any Reinsured Contract.
THEREFORE, in consideration of the promises set forth in this Agreement, the
parties agree as follows:
165950
| MetLife Investors Insurance Company;
| Exeter Reassurance Company, Ltd.;
Metlife Investors Variable Annuity Account One
|
Preview
Full Doc
| 2003 |
Automatic Reinsurance Agreement
Automatic Reinsurance Agreement (126K)
Doc #166134: Click preview link for longer preview.
AUTOMATIC REINSURANCE AGREEMENT
Between
METLIFE INVESTORS INSURANCE COMPANY OF CALIFORNIA
and
EXETER REASSURANCE COMPANY, LTD.
AGREEMENT NO.____
{PAGE}
THIS REINSURANCE AGREEMENT (the "Agreement") is made as of June 26, 2001 by and
between METLIFE INVESTORS INSURANCE COMPANY OF CALIFORNIA ("Cedent"), a life
insurance corporation organized and existing under the laws of California and
having it's principal place of business at Newport Beach, CA, and EXETER
REASSURANCE COMPANY, LTD. ("Reinsurer"), a life insurance corporation organized
and existing under the laws of Bermuda and having its principal place of
business at Clarendon House, 2 Church Street, Hamilton HM DX, Bermuda.
THE BACKGROUND OF THIS AGREEMENT is that the Reinsurer has heretofore assumed,
as of the date hereof, quota share portions of certain ceded annuity contract
liabilities on Riders, listed in the attached Schedules, (the "Reinsured
Contract(s)") issued by MetLife Investors Insurance Company of California.
THIS AGREEMENT provides for the indemnity cession of a portion of the ceded
liabilities of the Cedents with respect to the Reinsured Contracts and binds the
Cedent and the Reinsurer and their successors and permitted assignees,
respectively. This Agreement shall not create any right or legal relation
whatever between the Reinsurer and any Cedent or any insured, owner, annuitant,
beneficiary or other party to any Reinsured Contract.
THEREFORE, in consideration of the promises set forth in this Agreement, the
parties agree as follows:
166134
| MetLife Investors Insurance Company of California;
| Exeter Reassurance Company, Ltd.;
Metlife Investors Variable Annuity Account Five
|
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| 2003 |
Auxiliary Pension Plan [Amendment]
Auxiliary Pension Plan [Amendment] (4K)
Doc #312215: Click preview link for longer preview.
AMENDMENT TO THE
METLIFE AUXILIARY PENSION PLAN
The METLIFE AUXILIARY PENSION PLAN ("Plan") is hereby amended as follows:
1. Article 2 of the Plan is hereby amended as follows:
" Article 2. Participation
A Participant in the Plan is any employee that qualifies under Section 2.1, 2.2
or 2.3 below:
2.1. A Company or Subsidiary (including, but not limited to, MetLife Group,
Inc.) employee participating in the Retirement Plan:
(a) whose benefits are reduced because of the application of Section
401(a)(17) of the Internal Revenue Code (or such lesser limit as in
effect under the Retirement Plan), or,
(a) whose benefits are reduced because of the application of section 415 of
the Internal Revenue Code, including Treasury Regulation 1.415-2.
shall be eligible to participate in the Plan as stated in all Articles except
Section 4.2 of Article 4 and Article 4A.
2.2. A Company or Subsidiary (including, but not limited to, MetLife Group,
Inc.) employee participating in the Retirement Plan who:
312215
|
MetLife
As referenced in this Auxiliary Pension Plan [Amendment]:
METROPOLITAN LIFE INSURANCE CO – as a
Participant under Section 2.2 of this Article after December 31, 2002."
2. This amendment is effective January 1, 2003
Date METROPOLITAN LIFE INSURANCE CO .
___________ By:____________________________________________
Witness
{/TEXT}
{/DOCUMENT}
_____________
dt 316996
;
| MetLife Group Inc.
|
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| 2003 |
Lease of Phase 1A
Lease of Phase 1A (421K)
Doc #266960: Click preview link for longer preview.
PLEASE RETURN TO:
BUNKER HILL ASSOCIATES
300 South Grand Ave.,
Recording requested by and Suite 3200
when recorded return to: Los Angeles, CA 90071
(F.S.9/89)
Russell L. Johnson, Esq.
Gibson, Dunn & Crutcher
333 South Grand Avenue
Los Angeles, CA 90071
_________________________________________________________________________
(space above this line
for Recorder's use)
THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF LOS ANGELES, CALIFORNIA
RECORDED IN OFFICIAL RECORDS FEE $147
OF LOS ANGELES COUNTY, CA 144
AUG 26 1983 AT 8 A.M. AND
Recorder's Office
BUNKER HILL ASSOCIATES
LEASE OF PHASE 1A
Dated as of August 26, 1983.
Property Located in Los Angeles County, California
{PAGE}
CERTIFICATE
The undersigned hereby certifies as follows with respect to
that certain ground lease by and between the undersigned and Bunker Hill
Associates, a California partnership, dated of even date herewith and pertaining
to the real property described in Exhibit A (the "Ground Lease"), and the lease
therein memorialized:
The Ground Lease, being for a lease for a period of ninety-nine (99) years, is
exempt from transfer taxes under Los Angeles County Ordinance 9443.
Dated as of: August 26,1983.
The Community Redevelopment
Agency for the City of Los
Angeles, California
By /s/ Edward Helfeld
-----------------------------
Its: Administrator
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
TABLE OF DEFINITIONS ........................................................... (vii)
RECITALS ....................................................................... 1
ARTICLE 1 - LEASE OF PROPERTY, TERM OF LEASE ................................... 3
1.1 Leasing Clauses ................................................. 3
1.2 Term ............................................................ 4
1.3 Modification .................................................... 4
1.4 Surrender of Museum Airspace and
Museum Building ................................................. 4
ARTICLE 2 - RENT ............................................................... 5
2.1 Holding Rent .................................................... 5
2.2 Base Rent ....................................................... 5
2.3 Escalation Rent ................................................. 6
2.4 Participation Rent .............................................. 7
2.5 Annual Accounting Statements .................................... 8
2.6 Net Rent; Manner of Payment ..................................... 9
2.7 Additional Rent ................................................. 10
2.8 Supplemental Rent ............................................... 10
ARTICLE 3 - DEVELOPMENT AND IMPROVEMENT ........................................ 11
3.1 Lessor's Improvements; Lessor's
Payments to Tenant .............................................. 11
3.2 Tenant's Improvements ........................................... 11
3.3 Proposed Changes ................................................ 12
3.4 Certifying Approval ............................................. 12
3.5 Commencement of Construction .................................... 12
3.6 Certificate of Completion ....................................... 12
{/TABLE}
(i)
{PAGE}
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
3.7 Refusal to Certify .............................................. 13
3.8 Phase 1A Improvements Defined ................................... 14
3.9 Dedications and Grants of
Public Easements; Maps and
Instruments .................................................... 14
3.10 Nondiscrimination ............................................... 15
ARTICLE 4 - INTENTIONALLY OMITTED .............................................. 15
ARTICLE 5 - CONSOLIDATION OF LEASES ............................................ 15
5.1 Consolidation of Leases ......................................... 15
ARTICLE 6 - CONDITION AND USE OF PHASE ......................................... 16
6.1 Use of the Leased Property ...................................... 16
6.2 Compliance of Phase with Legal
Requirements ................................................... 16
ARTICLE 7 - MAINTENANCE AND REPAIRS .......................................... . 16
7.1 Maintenance ..................................................... 16
ARTICLE 8 - ALTERATIONS AND ADDITIONS;
DEMOLITION ..................................................... 17
8.1 Alterations and Additions ....................................... 17
8.2 Demolition and Reconstruction ................................... 18
ARTICLE 9 - PAYMENT OF IMPOSITIONS,
AND SUBSTITUTE IMPOSITIONS ..................................... 19
9.1 Payment, Evidence of Payment. ................................... 19
9.2 Substitute Impositions .......................................... 19
ARTICLE 10 - COMPLIANCE WITH REQUIREMENTS ...................................... 20
ARTICLE 11 - LIENS ............................................................. 20
ARTICLE 12 - PERMITTED CONTESTS ................................................ 21
ARTICLE 13 - NO CLAIMS AGAINST LESSOR .......................................... 21
ARTICLE 14 - INDEMNIFICATION BY TENANT ......................................... 21
{/TABLE}
(ii)
{PAGE}
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE 15 - UTILITY SERVICES .................................................. 22
ARTICLE 16 - QUIET ENJOYMENT ................................................... 22
ARTICLE 17 - TENANT'S EQUIPMENT ................................................ 23
ARTICLE 18 - INSURANCE ......................................................... 23
18.1 Insurance During Term ........................................... 23
18.2 Insurance Companies and Policies -
Terms of Policy .............................................. 24
18.3 Tenant's Separate Insurance ..................................... 25
18.4 Tenant's Self-Insurance ......................................... 25
ARTICLE 19 - DAMAGE TO OR DESTRUCTION OF
SITE OR IMPROVEMENTS ......................................... 26
19.1 Tenant to Give Notice ........................................... 26
19.2 Restoration ..................................................... 26
19.3 Application of Insurance
Proceeds ..................................................... 27
19.4 Insurance Proceeds Less Than
$500,000 ..................................................... 28
ARTICLE 20 - TAKING ............................................................ 29
20.1 Tenant to Give Notice ........................................... 29
20.2 Total Taking .................................................... 29
20.3 Partial Taking .................................................. 29
20.4 Application of Awards and
Other Payments ............................................... 30
20.5 Reduction of Fixed Rent Upon
Payment to Lessor ............................................ 32
ARTICLE 21 - MORTGAGEE ......................................................... 32
21.1 Mortgagees, Transferees ......................................... 32
21.2 Subordination of Escalation Rent,
Supplemental Rent and
Participation Rent ........................................... 32
{/TABLE}
(iii)
{PAGE}
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
21.3 Mortgagee's Escalation Rent ..................................... 33
ARTICLE 22 - FORBEARANCE; RIGHT TO PERFORM
TENANT'S COVENANTS ............................................ 34
22.1 Notice .......................................................... 34
22.2 Forbearance by Lessor............................................ 34
22.3 Performance on Behalf of Tenant ................................. 36
22.4 New Lease ....................................................... 36
ARTICLE 23 - MORTGAGES, ASSIGNMENTS ............................................ 37
23.1 Mortgages ....................................................... 37
23.2 Assignments ..................................................... 37
23.3 Occupancy Leases ................................................ 41
23.4 Refinancing ..................................................... 41
23.5 Consent of Mortgagee Required ................................... 42
23.6 Intentionally Omitted ........................................... 42
23.7 Sale for Profit of Interest
in Lease ....................................................... 42
ARTICLE 24 - EVENTS OF DEFAULT;
TERMINATION ..................................................... 47
ARTICLE 25 - CURRENT REMEDIES .................................................. 49
ARTICLE 26 - FINAL REMEDIES .................................................... 49
26.1 Remedies Upon Termination ....................................... 49
26.2 Limitation ...................................................... 50
ARTICLE 27 - ENTRY BY LESSOR ................................................... 51
ARTICLE 28 - LESSOR'S EQUITABLE RELIEF ......................................... 51
28.1 Continuing Right of Lessor ...................................... 51
ARTICLE 29 - NO WAIVER BY LESSOR OR TENANT ..................................... 51
ARTICLE 30 - LESSOR'S REMEDIES CUMULATIVE ...................................... 51
{/TABLE}
(iv)
{PAGE}
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE 31 - ACCEPTANCE OF SURRENDER ........................................... 52
ARTICLE 32 - NO MERGER OF TITLE ............................................... 52
ARTICLE 33 - ESTOPPEL CERTIFICATE BY
TENANT ......................................................... 53
ARTICLE 34 - ESTOPPEL CERTIFICATE BY LESSOR .................................... 53
ARTICLE 35 - ARBITRATION ....................................................... 53
ARTICLE 36 - END OF LEASE TERM ................................................. 54
ARTICLE 37 - TENANT'S RIGHTS OF FIRST
NEGOTIATION .................................................... 55
37.1 Tenant's Rights of First
Negotiation .................................................... 55
37.2 Termination or Modification
of Lease Upon Purchase .......................................... 57
ARTICLE 38 - PROVISIONS SUBJECT TO
APPLICABLE LAW ................................................. 57
ARTICLE 39 - APPRAISAL ........................................................ 57
ARTICLE 40 - DEFINITIONS ...................................................... 58
ARTICLE 41 - NOTICES .......................................................... 73
ARTICLE 42 - ATTORNEYS' FEES .................................................. 74
ARTICLE 43 - LIMITED LIABILITY FOR TENANT ..................................... 74
ARTICLE 44 - MISCELLANEOUS .................................................... 75
EXHIBIT A - Description of Site
EXHIBIT A-l - Phasing Plan
EXHIBIT A-2 - Description of Phase 1A
EXHIBIT B - Description of Museum Airspace
EXHIBIT C - Approved Title Exceptions
EXHIBIT D - Non-Disturbance and Attornment
Agreement
EXHIBIT E - Names and Addresses for Notices
{/TABLE}
(v)
{PAGE}
TABLE OF DEFINITIONS
{TABLE}
{CAPTION}
Article
or
Definition Section
---------- -------
{S} {C}
Additional Rent ....................................................... 2.7
Adjustment Year ....................................................... 40
Allocated Indebtedness ................................................ 23.7
Alternative Terms ..................................................... 37(c)
Annual Accounting Statement ........................................... 2.5
Approved Plans ........................................................ 3.2
Average Fixed Mortgage Payment ........................................ 40
Base Rent ............................................................. 2.2
Business Days ......................................................... 40
C-F ................................................................... Page 1
Capital Expenses ...................................................... 40
Certificate of Completion ............................................. 3.6
Commencement Date ..................................................... 40
Commencement of Construction .......................................... 40
Completion Date ....................................................... 2.7
Consolidated Equity Account ........................................... 23.7
CPA Consolidated Equity Account ....................................... 23.7
CRA Delay ............................................................. 40
Date of Taking ........................................................ 20.2
Deductible Profit ..................................................... 23.7
Default ............................................................... 40
Depositary ............................................................ 18.2
Developer ............................................................. 40
Developer's Preferred Return .......................................... 40
Developer's Preferred Return Deficit Account .......................... 40
Development Costs ..................................................... 40
Disposition Agreement ............... ................................. Recital C
Effective Interest Rate ............................................... 40
End of the Development Period of Phase 1A ............................. 40
Equity ................................................................ 40
Equity Account ........................................................ 23.7
Escalation Rent ....................................................... 2.3
Escalation Rent Debt Service .......................................... 40
Escalation Rent Net Cash Flow ......................................... 40
Event of Default ...................................................... 24
Fiscal Year ........................................................... 40
Fixed Mortgage Payment ................................................ 40
Full Fiscal Year ...................................................... 40
Future Transit Tunnel and Station ..................................... 3.11
Goldrich .............................................................. 40
Holding Period ........................................................ 40
Holding Rent .......................................................... 2.1
Impositions ........................................................... 40
Initial Mortgage ...................................................... 40
Institutional Investor ................................................ 40
Insurance Requirements ................................................ 40
Interest in this Lease ................................................ 23.7
{/TABLE}
(vi)
{PAGE}
{TABLE}
{CAPTION}
Article
or
Definition Section
---------- -------
{S} {C}
Interest Rate .................................................................. 2.5
Lease .......................................................................... 40
Lease Term ..................................................................... 1.2
Legal Requirements ............................................................. 40
Lender ......................................................................... 23.7
Lender's Account ............................................................... 23.7
Lender's Interest .............................................................. 23.7
Lessor ......................................................................... Page 1
Maps and Instruments ........................................................... 3.9
Market Interest Rate ........................................................... 40
Minority Business Enterprise Credit ............................................ 40
Minority Business Enterprise Program ........................................... 40
Mortgage ....................................................................... 40
Mortgagee ...................................................................... 40
Mortgagee Escalation Rent ...................................................... 21.3
Museum Agreement ............................................................... Recital E
Museum Airspace ................................................................ Recital E
Museum Building ................................................................ Recital E
Museum Corporation ............................................................. Recital E
Museum Lease ................................................................... Recital E
Net Awards and Payments ........................................................ 20.4
Net Cash Flow .................................................................. 40
Net Operating Income ........................................................... 40
Net Worth ...................................................................... 40
New Mortgage ................................................................... 23.4
Notice ......................................................................... 22.1
Notice of Alternative Terms .................................................... 37(c)
Notice of Nonresponsibility .................................................... 40
Occupancy Lease ................................................................ 40
Occupancy Tenant ............................................................... 40
Operating Expenses ............................................................. 40
Original Improvements .......................................................... 3.2
Partial Taking ................................................................. 20.3
Participation Mortgage Payments ................................................ 40
Participation Rent ............................................................. 2.4
Participation Rent Debt Service ................................................ 40
Participation Rent Net Cash Flow ............................................... 40
Permitted Exceptions ........................................................... 1.1
Permitted Transferee ........................................................... 37
Person ......................................................................... 40
Phase and Phases ............................................................... Recital B
Phase 1A Improvements .......................................................... 40
Phase 1A Site .................................................................. 40
Phase IB Site .................................................................. Exhibit A-l
Phase 1C Site .................................................................. Exhibit A-l
Phase 2A Site .................................................................. Exhibit A-l
Phase 2B Site .................................................................. Exhibit A-l
Phase 2C Site .................................................................. Exhibit A-l
Phase 3A Site .................................................................. Exhibit A-l
Phase 3B Site .................................................................. Exhibit A-l
Preferred Capital Contribution ................................................. 40
Profit ......................................................................... 23.7(h)
{/TABLE}
(vii)
{PAGE}
{TABLE}
{CAPTION}
Article
or
Definition Section
---------- -------
{S} {C}
Profit Date ........................................................... 23.7
Pro Forma Escalation Rent Net Cash Flow ............................... 40
Pro Forma Rent Roll ................................................... 40
Project ............................................................... 40
Projected Net Operating Income ........................................ 40
Projected Participation Mortgage Payments ............................. 40
Reciprocal Easement Agreement (REA) ................................... Recital D
Rent Payment Date ..................................................... 2.2
Restoration ........................................................... 19.2
Schedule of Performance ............................................... 3.4
Scope of Development .................................................. Recital C
Site .................................................................. Recital B
Shapell ............................................................... 23.7
Substitute Impositions ................................................ 40
Supplemental Rent ..................................................... 40
Supplemental Rent Net Cash Flow ....................................... 40
Supplemental Rent Payment Date ........................................ 2.8
Taking ................................................................ 40
Tenant ................................................................ Page 1
Tenant's Consolidated Equity Account .................................. 23.7
Tenant's Equipment .................................................... 40
Total Taking .................. ...................................... 20.2
Unavoidable Delays .................................................... 40
{/TABLE}
(viii)
{PAGE}
LEASE OF PHASE 1A
THIS LEASE, dated as of August 26, 1983, by and between the
THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF LOS ANGELES, CALIFORNIA, a
public body corporate and politic (which, together with any successor public
body or officer hereafter designated by or pursuant to law is hereinafter called
"Lessor") established pursuant to Chapter 2 of the Community Redevelopment Law
of the State of California, and having its office at Suite 800, 354 South Spring
Street, Los Angeles, California 90013 and BUNKER HILL ASSOCIATES, a general
partnership (hereinafter called "Tenant") (the partners of which are California
Plaza Associates, a California limited partnership ("CPA") [formerly known as
Bunker Hill Associates, the sole general partner of which is Cadillac
Fairview/California, Inc., a California corporation ("C-F")]; and Metropolitan
Structures, an Illinois general partnership ("Structures") [the partners of
which are Metco Properties, an Illinois limited partnership, and Metropolitan
Life Insurance Company, a New York corporation ("Metropolitan")]), and having
its office at Suite 1115, 2029 Century Park East, Los Angeles, California 90067,
with reference to the following Recitals:
RECITALS:
A. All capitalized terms used herein and not defined in
the Article where first used in this Lease are defined in Article 40 or the
definition of such capitalized term is referenced in Article 40.
B. Lessor is the owner of that certain unimproved real
property described in Exhibit A (hereinafter referred to as the "Site"), which
shall be separately leased or sold and developed in eight phases, which are
separately identified on Exhibit A-l attached hereto as Phase 1A, Phase IB,
Phase 1C, Phase 2A, Phase 2B, Phase 2C, Phase 3A and Phase 3B (hereinafter
referred to, respectively, by such capitalized names, collectively as "Phases,"
and generically as "a Phase") which Phases shall be separately and independently
leased or sold and developed pursuant to the terms of the Disposition
Agreement (hereinafter defined).
C. Lessor (therein designated as "Agency") and Tenant
(therein designated as "Developer") have entered into that certain DISPOSITION
AND DEVELOPMENT AGREEMENT dated as of February 5, 1982, which Disposition
Agreement
{PAGE}
was modified by that certain First Implementation Agreement between Bunker Hill
Associates, a California limited partnership which was the predecessor in
interest of Tenant ("Old Bunker") and Agency executed by Agency on June 16, 1982
and that certain Third Implementation Agreement between Agency and Old Bunker
executed by Agency on September 25, 1982. It is proposed to be modified by that
certain Second Implementation Agreement between Old Bunker, Agency and the
Museum of Contemporary Art (the "Museum") executed by Old Bunker on October
22, 1982, but which has not yet been executed by Agency or Museum. The
Disposition Agreement has been further amended by that certain First Amendment
to Disposition and Development Agreement between Lessor and Tenant dated as of
May 31, 1983. The Disposition and Development Agreement as modified by the First
and Third Implementation Agreements and the First Amendment to Disposition and
Development Agreement (and when, as and if the Second Implementation Agreement
is fully executed, as modified by the Second Implementation Agreement) is
collectively referred to as the "Disposition Agreement." The Disposition
Agreement provides, in part, that Lessor shall successively convey each of the
Phases of the Site to Developer by lease or deed and establishes a Scope of
Development and Schedule of Performance for the construction by Developer of
certain Improvements on the Site, and in particular for the construction of the
Original Improvements on Phase 1A.
D. Concurrently with the execution and delivery hereof
Lessor and Tenant have executed and delivered that certain RECIPROCAL EASEMENT
AGREEMENT (hereinafter called "REA") which provides for certain rights of access
and use by and between various portions of the Site as developed pursuant to the
Disposition Agreement and for the operation and payment of the costs of
operation of certain facilities including, but not limited to, the parking
facilities, the Entertainment Center and the Angel's Flight Funicular Railway to
be located on the Site. It is hereby agreed by and between Lessor and Tenant
that the REA shall govern and be binding upon all parties which shall succeed to
any interest in any portion or portions of the Site, whether by lease or any
other conveyance, succession upon default, foreclosure, or operation of law
unless and until every person, entity, agency, or corporation having or holding
any interest in the entire Site (including without limitation, any interest
arising by way of lease or sublease or mortgage or deed of trust) shall execute
and acknowledge a declaration of termination of the REA and cause such to be
duly recorded in Official Records, County of Los Angeles, State of California.
266960
|
Bunker Hill
As referenced in this Lease of Phase 1A:
BUNKER HILL ASSOCIATES
– {DOCUMENT}
{TYPE}EX-99.5
{SEQUENCE}8
{FILENAME}a94711exv99w5.txt
{DESCRIPTION}EXHIBIT 99.5
{TEXT}
{PAGE}
Exhibit 99.5
PLEASE RETURN TO:
BUNKER HILL ASSOCIATES
300 South Grand Ave.,
Recording requested by and Suite 3200
when recorded return to: Los Angeles, CA 90071
(F.S.9/89)
_____________
BUNKER HILL ASSOCIATES
– RECORDED IN OFFICIAL RECORDS FEE $147
OF LOS ANGELES COUNTY, CA 144
AUG 26 1983 AT 8 A.M. AND
Recorder's Office
BUNKER HILL ASSOCIATES
LEASE OF PHASE 1A
Dated as of August 26, 1983.
Property Located in Los Angeles County, California
{PAGE}
CERTIFICATE
The undersigned hereby
_____________
Bunker Hill
Associates, – County, California
{PAGE}
CERTIFICATE
The undersigned hereby certifies as follows with respect to
that certain ground lease by and between the undersigned and Bunker Hill
Associates, a California partnership, dated of even date herewith and pertaining
to the real property described in Exhibit A (the "Ground Lease"), and
_____________
BUNKER HILL ASSOCIATES, – Redevelopment Law
of the State of California, and having its office at Suite 800, 354 South Spring
Street, Los Angeles, California 90013 and BUNKER HILL ASSOCIATES, a general
partnership (hereinafter called "Tenant") (the partners of which are California
Plaza Associates, a California limited partnership ("CPA") [formerly known as
_____________
Bunker Hill Associates, – ASSOCIATES, a general
partnership (hereinafter called "Tenant") (the partners of which are California
Plaza Associates, a California limited partnership ("CPA") [formerly known as
Bunker Hill Associates, the sole general partner of which is Cadillac
Fairview/California, Inc., a California corporation ("C-F")]; and Metropolitan
Structures, an Illinois general
_____________
dt 157999
;
|
TOTAL
As referenced in this Lease of Phase 1A:
TOTAL
{S – 02 4.72
================================================================================
{/TABLE}
{PAGE}
CALIFORNIA PLAZA
ENTERTAINMENT CENTER BUDGET FOR THE "TENANTS"
BASED ON THE PLAN FOR ANGELS' FLIGHT PRODUCTIONS
{TABLE}
{CAPTION}
5 YEAR
1992 1993 1994 1995 1996 TOTAL
{S } {C} {C} {C} {C} {C} {C}
TOTAL PRIVATE UNEARNED INCOME 2,172,900 1,067,704 1,260,198 1,393,502 1,545,598 7,439,902
(PAGE
_____________
TOTAL
{S – 005,198 1,093,502 1,200,598 4,914,902
==========================================================================
{/TABLE}
AREAS OF "TENANT'S" BUILDING
{TABLE}
{CAPTION}
RENTABLE
SQ. FT. SQ. FT. SQ. FT.
OFFICE LOBBY RETAIL OTHER TOTAL
{S } {C} {C} {C} {C} {C}
PHASE 1A - GRAND AVENUE ASSOC. 936,864 20,921 22,953 0 980,738
PHASE 2A - OTP II(ESTIMATED) 1,190,000 23,000
_____________
dt 1394361
;
 Gibson Dunn
As referenced in this Lease of Phase 1A:
Gibson, Dunn – Ave.,
Recording requested by and Suite 3200
when recorded return to: Los Angeles, CA 90071
(F.S.9/89)
Russell L. Johnson, Esq.
Gibson, Dunn & Crutcher
333 South Grand Avenue
Los Angeles, CA 90071
_________________________________________________________________________
(space above this line
for Recorder's use)
THE COMMUNITY REDEVELOPMENT AGENCY
_____________
GIBSON, DUNN – SUITE 1200
CHICAGO, ILLINOIS 60601
ATTENTION: Harold Jensen
{PAGE}
85-1102425
Recording Requested by and Fee $27.00 [ILLEGIBLE]
when recorded mail to:
GIBSON, DUNN & CRUTCHER
Attention: Russell L. Johnson, Esq.
333 South Grand Avenue
Los Angeles, California 90071
[STAMP]
DOCUMENTARY TRANSFER TAX $None
____COMPUTED ON FULL
_____________
GIBSON, DUNN – OFFICE
LOS ANGELES COUNTY,
CALIFORNIA
1 MIN. 10 A.M. SEP 23 1985
PAST.
{PAGE}
Recording Requested by and
when recorded mail to:
GIBSON, DUNN & CRUTCHER
Attention: Russell L. Johnson, Esq.
333 South Grand Avenue
Los Angeles, California 90071
FIRST AMENDMENT OF LEASE OF PHASE 1A
This
_____________
GIBSON, DUNN – POINT OF BEGINNING.
{PAGE}
[STAMP]
Recording Requested by and RECORDED IN OFFICIAL RECORDS
when recorded mail to: RECORDER'S OFFICE
LOS ANGELES COUNTY
GIBSON, DUNN & CRUTCHER CALIFORNIA
Attention: Lesley S. Wolf, Esq. MIN.
333 South Grand Avenue 21 PAST 4 P.M. FEB 13 1990
Los Angeles,
_____________
dt 163389
|
Preview
Full Doc
| 2003 |
Certificate of Insurance (for the Employees)
Certificate of Insurance (for the Employees) (7K)
Doc #263499: Click preview link for longer preview.
Metropolitan Life Insurance Company
One Madison Avenue, New York, New York 10010-3690
CERTIFICATE OF INSURANCE
for the Employees of
PNM Resources, Inc.
(called the Employer)
This is your Certificate of insurance for long Term Disability Insurance as long
as you are insured under This Plan. The Group Policy and this Certificate may be
changed or canceled according to the terms, conditions and provisions of the
Group Policy. This Certificate describes the benefits under the Plan in effect
as of January 1, 2003. Any prior Certificate relating to the coverage set forth
herein is void.
263499
|
PNM Resources
As referenced in this Certificate of Insurance (for the Employees):
PNM RESOURCES, INC – {DOCUMENT}
{TYPE}EX-10
{SEQUENCE}17
{FILENAME}exh_1088.txt
{DESCRIPTION}EXHIBIT 10.88
{TEXT}
EXHIBIT 10.88
YOUR EMPLOYEE
BENEFIT PLAN
PNM RESOURCES, INC .
LONG TERM DISABILITY
ALL EXECUTIVES
GROUP NUMBER: 34505
EFFECTIVE DATE: JANUARY 1, 2003
{PAGE}
Policy excerpt:
Group Policy No.: 34505-G
MetLife(
_____________
PNM Resources, Inc – G
MetLife(R)
Metropolitan Life Insurance Company
One Madison Avenue, New York, New York 10010-3690
CERTIFICATE OF INSURANCE
for the Employees of
PNM Resources, Inc .
(called the Employer)
This is your Certificate of insurance for long Term Disability Insurance as long
as you are insured under This
_____________
dt 143401
;
| |
Preview
Full Doc
| 2004 |
Paid Life Insurance
Paid Life Insurance (76K)
Doc #210480: Click preview link for longer preview.
Summary Plan Description for:
The Dow Chemical Company
Company-Paid Life Insurance
Employee-Paid Life Insurance
Dependent Life Insurance
This Summary Plan Description (SPD) is updated annually on the Dow Intranet.
See also the Choices enrollment brochures, which are published annually for summaries of the most recent modifications to this SPD. Copies of any of the above can be found on the Dow Intranet or by requesting a copy from the Human Resources (HR) Service Center, Employee Development Center, Midland, MI 48674, telephone 877-623-8079 or 989-638-8757. Summaries of modifications may also be published from time to time in Dow's Newsline publication or by separate letter.
Amended and Restated:January 26, 2004
For the Plan Year Beginning January 1, 2004
LIFE INSURANCE PLANS
This booklet is the Summary Plan Description (SPD) for the Company-Paid Life Insurance Plan and The Dow Chemical Company Employee-Paid and Dependent Life Insurance Plans. (Collectively referred to in this SPD as "Plans". Individually, each plan may be referred to as "Plan"). References to "Dow" refer collectively to The Dow Chemical Company and its subsidiaries and affiliates authorized to participate in the Plans.
Company-Paid Life Insurance is sponsored, administered and the premium paid by Dow. It provides automatic coverage for eligible Employees.
Both Employee-Paid Life Insurance and Dependent Life Insurance are optional plans that you may select. Both are sponsored by The Dow Chemical Company ("Company"), but you must pay the premiums.
Words that are capitalized are either defined in this SPD or the applicable Plan Document. References to "Participating Employer" refer to The Dow Chemical Company or any other corporation or business entity The Dow Chemical Company authorizes to participate in the Plans with respect to its Employees. The terms "Dow" and "Participating Employers" have the same meaning, and may be used interchangeably in this SPD. The applicable Plan Document for the Company-Paid Life Insurance Plan is The Dow Chemical Company Group Life Insurance Program Plan Document. The applicable Plan Document for the Employee-Paid and Dependent Life Insurance Plans is The Dow Chemical Company Employee-Paid Life and Dependent Insurance Program Plan Document. The Plan Documents are available by requesting from the applicable Plan Administrator listed in the ERISA Information section of this SPD.
COMPANY-PAID LIFE INSURANCE
Plan Description
Company-Paid Life Insurance (referred to in the Company-Paid Life Insurance portion of this SPD as the "Plan") is a group term life insurance plan that provides automatic coverage at no cost to you. The amount of your coverage is equal to one times (1X) your base annual salary and is adjusted accordingly. The benefits are insured by a group term life insurance policy underwritten by Metropolitan Life Insurance Company (MetLife). MetLife pays the benefits under the Plan. In addition, MetLife is the named fiduciary for making decisions as to whether a Claim for Benefits is payable.
Eligibility
Salaried Employees of a Participating Employer with regular, active, Full-Time or Less-Than-Full-Time status are eligible and are automatically covered under this Plan(1), except as follows:
210480
| |
MetLife
As referenced in this Paid Life Insurance:
MetLife, Inc – Insurance Plan based on the manner in which the insurer has determined the premium rates.
Joint Insurance Arrangement
Dorinco Reinsurance Company (Dorinco) and MetLife, Inc . (MetLife) have entered into an arrangement that is allowed by the U.S. Department of Labor pursuant to Prohibited Transaction Exemption 96-
_____________
MetLife, Inc – To Serve Legal Process, File With:
General Counsel
The Dow Chemical Company
Corporate Legal Department
2030 Dow Center
Midland, MI 48674
Claims Administration:
MetLife, Inc . administers claims under a group
policy issued to The Dow Chemical Company
MetLife, Inc.
Group Life Claims
Onedia County Industrial Park
Utica,
_____________
MetLife, Inc – Department
2030 Dow Center
Midland, MI 48674
Claims Administration:
MetLife, Inc. administers claims under a group
policy issued to The Dow Chemical Company
MetLife, Inc .
Group Life Claims
Onedia County Industrial Park
Utica, NY 13504-6115
Plan Year:
The Plan's fiscal records are kept on a
_____________
MetLife, Inc – 1 and ending December 31
Funding:
Dow pays the entire premium for the Plan. Benefits are funded through a group insurance contract with MetLife, Inc The assets of the "Program" may be used at the discretion of the Plan Administrator to pay for any benefits provided under
_____________
MetLife, Inc – To Serve Legal Process, File With:
General Counsel
The Dow Chemical Company
Corporate Legal Department
2030 Dow Center
Midland, MI 48674
Claims Administration:
MetLife, Inc . administers claims under a group policy
issued to The Dow Chemical Company.
MetLife, Inc.
Group Life Claims
Onedia County Industrial Park
Utica,
_____________
dt 149844
|
| Full Doc
| 2007 | | | |
Preview
Full Doc
| 2003 |
Credit Agreement
Credit Agreement (606K)
Doc #126278: Click preview link for longer preview.
CREDIT AGREEMENT
Dated as of February 27, 2003,
Among
TRW AUTOMOTIVE HOLDINGS CORP.,
TRW AUTOMOTIVE INTERMEDIATE HOLDINGS CORP.,
TRW AUTOMOTIVE ACQUISITION CORP.,
THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO,
THE LENDERS PARTY HERETO,
JPMORGAN CHASE BANK,
as Administrative Agent,
CREDIT SUISSE FIRST BOSTON,
LEHMAN COMMERCIAL PAPER INC. and
DEUTSCHE BANK SECURITIES INC.
as Co-Syndication Agents
BANK OF AMERICA, N.A.,
as Documentation Agent
---------------
J.P. MORGAN SECURITIES INC.,
CREDIT SUISSE FIRST BOSTON and
LEHMAN BROTHERS INC.,
as Lead Arrangers and Joint Bookrunners
TABLE OF CONTENTS
-----------------
PAGE
----
ARTICLE I DEFINITIONS ........................................................6
SECTION 1.01. DEFINED TERMS..........................................6
SECTION 1.02. TERMS GENERALLY.......................................87
SECTION 1.03. EXCHANGE RATES........................................88
SECTION 1.04. REDENOMINATION OF CERTAIN FOREIGN CURRENCIES..........89
SECTION 1.05. EFFECTUATION OF TRANSFERS.............................90
ARTICLE II THE CREDITS ......................................................91
SECTION 2.01. COMMITMENTS...........................................91
SECTION 2.02. LOANS AND BORROWINGS..................................92
SECTION 2.03. REQUESTS FOR BORROWINGS...............................94
SECTION 2.04. SWINGLINE LOANS.......................................96
SECTION 2.05. LETTERS OF CREDIT....................................100
SECTION 2.06. FUNDING OF BORROWINGS................................111
SECTION 2.07. INTEREST ELECTIONS...................................112
SECTION 2.08. TERMINATION AND REDUCTION OF COMMITMENTS.............114
SECTION 2.09. REPAYMENT OF LOANS; EVIDENCE OF DEBT.................116
SECTION 2.10. REPAYMENT OF TERM LOANS AND REVOLVING LOANS..........117
SECTION 2.11. PREPAYMENT OF LOANS..................................121
SECTION 2.12. FEES.................................................124
SECTION 2.13. INTEREST.............................................126
SECTION 2.14. ALTERNATE RATE OF INTEREST...........................127
SECTION 2.15. INCREASED COSTS......................................128
SECTION 2.16. BREAK FUNDING PAYMENTS...............................131
SECTION 2.17. TAXES................................................132
SECTION 2.18. PAYMENTS GENERALLY; PRO RATA TREATMENT; SHARING OF
SET-OFFS.............................................134
SECTION 2.19. MITIGATION OBLIGATIONS; REPLACEMENT OF LENDERS.......137
SECTION 2.20. FOREIGN SUBSIDIARY LOAN PARTIES......................139
SECTION 2.21. ADDITIONAL RESERVE COSTS.............................140
SECTION 1.1. ANCILLARY FACILITIES...................................141
ARTICLE III REPRESENTATIONS AND WARRANTIES..................................147
SECTION 3.01. ORGANIZATION; POWERS.................................148
SECTION 3.02. AUTHORIZATION........................................149
SECTION 3.03. ENFORCEABILITY.......................................150
SECTION 3.04. GOVERNMENTAL APPROVALS...............................150
SECTION 3.05. FINANCIAL STATEMENTS.................................151
SECTION 3.06. NO MATERIAL ADVERSE CHANGE OR MATERIAL ADVERSE
EFFECT...............................................152
SECTION 3.07. TITLE TO PROPERTIES; POSSESSION UNDER LEASES.........152
SECTION 3.08. SUBSIDIARIES.........................................154
SECTION 3.09. LITIGATION; COMPLIANCE WITH LAWS.....................154
SECTION 3.10. FEDERAL RESERVE REGULATIONS..........................155
SECTION 3.11. INVESTMENT COMPANY ACT; PUBLIC UTILITY HOLDING
COMPANY ACT..........................................155
SECTION 3.12. USE OF PROCEEDS......................................156
SECTION 3.13. TAX RETURNS..........................................157
SECTION 3.14. NO MATERIAL MISSTATEMENTS............................158
SECTION 3.15. EMPLOYEE BENEFIT PLANS...............................159
SECTION 3.16. ENVIRONMENTAL MATTERS................................160
SECTION 3.17. SECURITY DOCUMENTS...................................161
SECTION 3.18. LOCATION OF REAL PROPERTY AND LEASED PREMISES........163
SECTION 3.19. SOLVENCY.............................................164
SECTION 3.20. LABOR MATTERS........................................165
SECTION 3.21. INSURANCE............................................165
SECTION 3.22. REPRESENTATIONS AND WARRANTIES IN PURCHASE AGREEMENT.166
ARTICLE IV CONDITIONS OF LENDING............................................166
SECTION 4.01. ALL CREDIT EVENTS....................................166
SECTION 4.02. FIRST CREDIT EVENT...................................167
SECTION 4.03. CREDIT EVENTS RELATING TO FOREIGN SUBSIDIARY
BORROWERS............................................174
ARTICLE V AFFIRMATIVE COVENANTS.............................................175
SECTION 5.01. EXISTENCE; BUSINESSES AND PROPERTIES.................176
SECTION 5.02. INSURANCE............................................177
SECTION 5.03. TAXES................................................180
SECTION 5.04. FINANCIAL STATEMENTS, REPORTS, ETC...................180
SECTION 5.05. LITIGATION AND OTHER NOTICES.........................184
SECTION 5.06. Compliance with Laws.................................185
SECTION 5.07. MAINTAINING RECORDS; ACCESS TO PROPERTIES AND
INSPECTIONS..........................................186
SECTION 5.08. USE OF PROCEEDS......................................186
SECTION 5.09. COMPLIANCE WITH ENVIRONMENTAL LAWS...................187
SECTION 5.10. FURTHER ASSURANCES; ADDITIONAL MORTGAGES.............187
SECTION 5.11. FISCAL YEAR; ACCOUNTING..............................190
SECTION 5.12. INTEREST RATE PROTECTION AGREEMENTS..................191
SECTION 1.2. PROCEEDS OF CERTAIN DISPOSITIONS.......................191
ARTICLE VI NEGATIVE COVENANTS...............................................192
SECTION 6.01. INDEBTEDNESS.........................................192
SECTION 6.02. LIENS................................................197
SECTION 6.03. SALE AND LEASE-BACK TRANSACTIONS.....................202
SECTION 6.04. INVESTMENTS, LOANS AND ADVANCES......................203
SECTION 6.05. MERGERS, CONSOLIDATIONS, SALES OF ASSETS AND
ACQUISITIONS.........................................207
SECTION 6.06. DIVIDENDS AND DISTRIBUTIONS..........................210
SECTION 6.07. TRANSACTIONS WITH AFFILIATES.........................212
SECTION 6.08. BUSINESS OF HOLDINGS, INTERMEDIATE HOLDINGS, THE
U.S. BORROWER AND THE SUBSIDIARIES...................215
SECTION 6.09. LIMITATION ON MODIFICATIONS OF INDEBTEDNESS;
MODIFICATIONS OF CERTIFICATE OF INCORPORATION,
BY-LAWS AND CERTAIN OTHER AGREEMENTS; ETC............216
SECTION 6.10. CAPITAL EXPENDITURES.................................218
SECTION 6.11. INTEREST COVERAGE RATIO..............................219
SECTION 6.12. LEVERAGE RATIO.......................................220
SECTION 6.13. SWAP AGREEMENTS......................................220
ARTICLE VII EVENTS OF DEFAULT...............................................221
SECTION 7.01. EVENTS OF DEFAULT....................................221
SECTION 1.3. Exclusion of Immaterial Subsidiaries...................227
SECTION 7.03. U.S. BORROWER'S RIGHT TO CURE........................227
ARTICLE VIII THE AGENTS ....................................................229
SECTION 8.01. APPOINTMENT..........................................230
SECTION 8.02. NATURE OF DUTIES.....................................232
SECTION 8.03. RESIGNATION BY THE AGENTS............................233
SECTION 8.04. EACH AGENT IN ITS INDIVIDUAL CAPACITY................233
SECTION 8.05. INDEMNIFICATION......................................234
SECTION 8.06. LACK OF RELIANCE ON AGENTS...........................235
SECTION 1.4. DESIGNATION OF AFFILIATES FOR FOREIGN CURRENCY LOANS...235
ARTICLE IX MISCELLANEOUS ...................................................236
SECTION 9.01. NOTICES..............................................236
SECTION 9.02. SURVIVAL OF AGREEMENT................................238
SECTION 9.03. BINDING EFFECT.......................................238
SECTION 9.04. SUCCESSORS AND ASSIGNS...............................239
SECTION 9.05. EXPENSES; INDEMNITY..................................245
SECTION 9.06. RIGHT OF SET-OFF.....................................248
SECTION 9.07. APPLICABLE LAW.......................................248
SECTION 9.08. WAIVERS; AMENDMENT...................................249
SECTION 9.09. INTEREST RATE LIMITATION.............................251
SECTION 9.10. ENTIRE AGREEMENT.....................................251
SECTION 9.11. WAIVER OF JURY TRIAL.................................252
SECTION 9.12. SEVERABILITY.........................................252
SECTION 9.13. COUNTERPARTS.........................................252
SECTION 9.14. HEADINGS.............................................252
SECTION 9.15. JURISDICTION; CONSENT TO SERVICE OF PROCESS..........253
SECTION 9.16. CONFIDENTIALITY......................................254
SECTION 9.17. CONVERSION OF CURRENCIES.............................255
SECTION 1.5. PRE-FUNDING ESCROW ARRANGEMENTS........................256
ARTICLE X ANCILLARY FACILITY ADJUSTMENTS....................................262
SECTION 1.6. EXCHANGE OF INTERESTS IN ANCILLARY FACILITIES..........262
ARTICLE XI COLLECTION ALLOCATION MECHANISM..................................264
SECTION 11.01. IMPLEMENTATION OF CAM...............................265
SECTION 11.02. LETTERS OF CREDIT AND UNFUNDED
ANCILLARY CREDIT EXTENSIONS.........................268
7
EXHIBITS AND SCHEDULES
EXHIBIT A FORM OF ASSIGNMENT AND ACCEPTANCE
EXHIBIT B FORM OF ADMINISTRATIVE QUESTIONNAIRE
EXHIBIT C-1 FORM OF BORROWING REQUEST
EXHIBIT C-2 FORM OF SWINGLINE BORROWING REQUEST
EXHIBIT D FORM OF U.S. MORTGAGE
EXHIBIT E FORM OF U.S. COLLATERAL AGREEMENT
EXHIBIT F FORM OF FOREIGN GUARANTEE
EXHIBIT G FORM OF FINCO GUARANTEE
EXHIBIT H FORM OF SELLER NOTE
EXHIBIT I FORM OF FINCO NOTE
EXHIBIT J FORMS OF FOREIGN ACQUIROR NOTES
EXHIBIT K-1 FORM OF FOREIGN SUBSIDIARY BORROWER AGREEMENT
EXHIBIT K-2 FORM OF FOREIGN SUBSIDIARY BORROWER TERMINATION
EXHIBIT L RESERVE COSTS FOR MANDATORY COSTS RATE
EXHIBIT M FORM OF OPINION OF SIMPSON THACHER & BARTLETT
EXHIBIT N FORM OF LOCAL COUNSEL OPINION
EXHIBIT O FORM OF NEWCO UK NOTE
EXHIBIT P FORM OF ACCEPTABLE LETTER OF CREDIT
SCHEDULE 1.01(A) ACQUIRED FOREIGN SUBSIDIARIES
SCHEDULE 1.01(B) FOREIGN ACQUIRORS, FOREIGN ACQUIROR EQUITY CONTRIBUTIONS AND
FOREIGN ACQUIROR LOANS
SCHEDULE 1.01(C) CLOSING DATE ANCILLARY FACILITIES
SCHEDULE 1.01(D) FOREIGN PLEDGE AGREEMENTS
8
SCHEDULE 1.01(E) FOREIGN SUBSIDIARY LOAN PARTIES
SCHEDULE 1.01(F) ANCILLARY FACILITY LIMITS
SCHEDULE 1.01(G) COLLATERAL AND GUARANTEE REQUIREMENT
SCHEDULE 1.01(H) CERTAIN U.S. SUBSIDIARIES
SCHEDULE 1.01(I) CLOSING DATE FOREIGN SUBSIDIARY BORROWER AGREEMENTS
SCHEDULE 2.01 COMMITMENTS
SCHEDULE 2.04(A) SWINGLINE DOLLAR COMMITMENTS
SCHEDULE 2.04(B) SWINGLINE FOREIGN CURRENCY COMMITMENTS
SCHEDULE 2.05(A) EXISTING LETTERS OF CREDIT
SCHEDULE 3.01 ORGANIZATION AND GOOD STANDING
SCHEDULE 3.04 GOVERNMENTAL APPROVALS
SCHEDULE 3.05 SPECIFIED TRANSACTION DOCUMENTS
SCHEDULE 3.08(B) SUBSIDIARIES
SCHEDULE 3.08(C) SUBSCRIPTIONS
SCHEDULE 3.09 LITIGATION
SCHEDULE 3.13 TAXES
SCHEDULE 3.18 MORTGAGED PROPERTIES
SCHEDULE 3.20 LABOR MATTERS
SCHEDULE 3.21 INSURANCE
SCHEDULE 5.10(G) CERTAIN FOREIGN SUBSIDIARIES
SCHEDULE 6.01 INDEBTEDNESS
SCHEDULE 6.02 LIENS
SCHEDULE 6.04 INVESTMENTS
SCHEDULE 6.07 TRANSACTIONS WITH AFFILIATES
CREDIT AGREEMENT dated as of February 27, 2003 (this
"Agreement"), among TRW AUTOMOTIVE HOLDINGS CORP., a Delaware
corporation ("Holdings"), TRW AUTOMOTIVE INTERMEDIATE HOLDINGS
CORP., a Delaware corporation ("Intermediate Holdings"), TRW
AUTOMOTIVE ACQUISITION CORP., a Delaware corporation (the "U.S.
Borrower"), the FOREIGN SUBSIDIARY BORROWERS party hereto, the
LENDERS party hereto from time to time, JPMORGAN CHASE BANK, as
administrative agent (in such capacity, the "Administrative
Agent"), and as collateral agent (in such capacity, the
"Collateral Agent") for the Lenders, CREDIT SUISSE FIRST BOSTON,
acting through its Cayman Islands Branch, LEHMAN COMMERCIAL PAPER
INC., and DEUTSCHE BANK SECURITIES INC., each as co-syndication
agent (in such capacity, a "Co-Syndication Agent"), and BANK OF
AMERICA, N.A., as documentation agent (in such capacity, the
"Documentation Agent").
Pursuant to or in connection with the Purchase Agreement (with such
term and each other capitalized term used but not defined in this preamble
having the meaning assigned thereto in Article I), (a) the Equity Contributions
will be made, (b) the financing transactions described in this preamble will be
consummated, (c) the Finco Equity Contribution, the Finco Loan, the Newco UK
Equity Contribution, the Newco UK Loan, the Foreign Acquiror Equity
Contributions and the Foreign Acquiror Loans will be consummated, (d) the Stock
Purchases will be consummated, and (e) fees and expenses (the "Transaction
Costs") incurred in connection with the Transactions will be paid.
On the Closing Date, (a) Automotive Investors L.L.C., a Delaware
limited liability company and a Fund
2
Affiliate, the Management Group and the Management Equity Vehicle together, will
contribute not less than $500,000,000 in cash to Holdings in exchange for not
less than 500,000 shares of Holdings Common Stock (the "Holdings Equity
Contribution"), (b) Holdings will contribute (i) the proceeds of the Holdings
Equity Contribution and (ii) a number of shares of Holdings Common Stock (the
"Stock Consideration"), that taken together with the shares issued pursuant to
the Holdings Equity Contribution has an implied value of not less than
$868,000,000, to Intermediate Holdings, in exchange for all the issued and
outstanding Equity Interests of Intermediate Holdings (the "Intermediate
Holdings Equity Contribution"), (c) Intermediate Holdings will contribute to the
U.S. Borrower in exchange for all the issued and outstanding Equity Interests of
the U.S. Borrower (i) the cash proceeds of the Intermediate Holdings Equity
Contribution, (ii) the Stock Consideration and (iii) 62.7% shares of LucasVarity
Holdings purchased by Intermediate Holdings from a subsidiary of Northrop Space
and Mission in exchange for the Seller Note and (d) the U.S. Borrower will
contribute $10,000,000 in cash to Automotive (LV) Corp. in exchange for all the
issued and outstanding Equity Interests of Automotive (LV) Corp. (the steps
described in clauses (a)-(d) of this paragraph together, the "Equity
Contributions").
On February 18, 2003, the U.S. Borrower issued and sold in offerings
pursuant to Rule 144A under the Securities Act of 1933 (the "Securities Act")
and Regulation S under the Securities Act (a) Senior Notes having an aggregate
principal amount of $925,000,000, (b) Senior Notes having an aggregate principal
amount of _200,000,000, (c) Senior Subordinated Notes having an aggregate
principal amount of $300,000,000 and (d) Senior Subordinated Notes having an
aggregate principal amount of _125,000,000.
Simultaneously with the consummation of the Equity Contributions, (a)
the U.S. Borrower will obtain, and make Borrowings in an aggregate amount the
Dollar Equivalent of which is not in excess of $1,544,000,000 under, the senior
secured credit facilities provided for by
126278
|
MetLife
As referenced in this Credit Agreement:
METROPOLITAN LIFE INSURANCE CO – LYNCH CAPITAL, a division
of MERRILL LYNCH BUSINESS
FINANCIAL SERVICES INC.,
by
/Sheila C. Weimer/
--------------------------------
Name: Sheila C. Weimer
Title: Vice President
285
METROPOLITAN LIFE INSURANCE CO MPANY,
by
/James R. Dingler/
--------------------------------
Name: James R. Dingler
Title: Director
MONUMENTAL LIFE INSURANCE COMPANY,
by
/Mark E. Dunn/
--------------------------------
Name: Mark E. Dunn
_____________
dt 102775
;
TRW Automotive
As referenced in this Credit Agreement:
TRW AUTOMOTIVE HOLDINGS CORP –
EXHIBIT 10.1
CREDIT AGREEMENT
Dated as of February 27, 2003,
Among
TRW AUTOMOTIVE HOLDINGS CORP .,
TRW AUTOMOTIVE INTERMEDIATE HOLDINGS CORP.,
TRW AUTOMOTIVE ACQUISITION CORP.,
THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO,
THE LENDERS PARTY HERETO,
JPMORGAN CHASE BANK,
_____________
TRW AUTOMOTIVE HOLDINGS CORP – 02 LIENS
SCHEDULE 6.04 INVESTMENTS
SCHEDULE 6.07 TRANSACTIONS WITH AFFILIATES
CREDIT AGREEMENT dated as of February 27, 2003 (this
"Agreement"), among TRW AUTOMOTIVE HOLDINGS CORP ., a Delaware
corporation ("Holdings"), TRW AUTOMOTIVE INTERMEDIATE HOLDINGS
CORP., a Delaware corporation ("Intermediate Holdings"), TRW
AUTOMOTIVE ACQUISITION CORP., a Delaware corporation (the "
_____________
TRW Automotive Holdings Corp – proceeds from purchases of Holdings Common Stock by any of
the Fund, Fund Affiliates or members of the Management Group pursuant to
the TRW Automotive Holdings Corp . 2003 Stock Incentive Plan
SECTION 6.07. Transactions with Affiliates. (a) Sell or transfer any
property or assets to, or purchase or
_____________
TRW AUTOMOTIVE HOLDINGS CORP – hereto have caused this Agreement to be
duly executed by their respective authorized officers as of the day and year
first above written.
TRW AUTOMOTIVE HOLDINGS CORP .,
by
/Neil P. Simpkins/
--------------------------------
Name: Neil P. Simpkins
Title: President
TRW AUTOMOTIVE INTERMEDIATE
HOLDINGS,
by
/Neil P. Simpkins/
--------------------------------
Name: Neil P. Simpkins
_____________
dt 223458
;
|
TRW Automotive
As referenced in this Credit Agreement:
TRW AUTOMOTIVE –
EXHIBIT 10.1
CREDIT AGREEMENT
Dated as of February 27, 2003,
Among
TRW AUTOMOTIVE HOLDINGS CORP.,
TRW AUTOMOTIVE INTERMEDIATE HOLDINGS CORP.,
TRW AUTOMOTIVE ACQUISITION CORP.,
THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO,
THE LENDERS PARTY HERETO,
JPMORGAN CHASE
_____________
TRW AUTOMOTIVE –
EXHIBIT 10.1
CREDIT AGREEMENT
Dated as of February 27, 2003,
Among
TRW AUTOMOTIVE HOLDINGS CORP.,
TRW AUTOMOTIVE INTERMEDIATE HOLDINGS CORP.,
TRW AUTOMOTIVE ACQUISITION CORP.,
THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO,
THE LENDERS PARTY HERETO,
JPMORGAN CHASE BANK,
as Administrative Agent,
_____________
TRW AUTOMOTIVE –
EXHIBIT 10.1
CREDIT AGREEMENT
Dated as of February 27, 2003,
Among
TRW AUTOMOTIVE HOLDINGS CORP.,
TRW AUTOMOTIVE INTERMEDIATE HOLDINGS CORP.,
TRW AUTOMOTIVE ACQUISITION CORP.,
THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO,
THE LENDERS PARTY HERETO,
JPMORGAN CHASE BANK,
as Administrative Agent,
CREDIT SUISSE FIRST BOSTON,
LEHMAN
_____________
TRW AUTOMOTIVE – 02 LIENS
SCHEDULE 6.04 INVESTMENTS
SCHEDULE 6.07 TRANSACTIONS WITH AFFILIATES
CREDIT AGREEMENT dated as of February 27, 2003 (this
"Agreement"), among TRW AUTOMOTIVE HOLDINGS CORP., a Delaware
corporation ("Holdings"), TRW AUTOMOTIVE INTERMEDIATE HOLDINGS
CORP., a Delaware corporation ("Intermediate Holdings"), TRW
AUTOMOTIVE ACQUISITION CORP., a Delaware corporation (
_____________
TRW AUTOMOTIVE – 07 TRANSACTIONS WITH AFFILIATES
CREDIT AGREEMENT dated as of February 27, 2003 (this
"Agreement"), among TRW AUTOMOTIVE HOLDINGS CORP., a Delaware
corporation ("Holdings"), TRW AUTOMOTIVE INTERMEDIATE HOLDINGS
CORP., a Delaware corporation ("Intermediate Holdings"), TRW
AUTOMOTIVE ACQUISITION CORP., a Delaware corporation (the "U.S.
Borrower"), the FOREIGN SUBSIDIARY BORROWERS
_____________
dt 90330
;
TRW
As referenced in this Credit Agreement:
TRW Inc – of
control payments related to the Transactions (including fees to the Fund
and Fund Affiliates) or the acquisition by Northrop Grumman Corporation of
TRW Inc ., (v) the amount of any cash restructuring or other nonrecurring
charges incurred not in excess of (A) $30,000,000 in fiscal
_____________
dt 123495
;
More... |
Preview
Full Doc
| 2003 |
Credit Agreement
Credit Agreement (135K)
Doc #129951: Click preview link for longer preview.
CREDIT AGREEMENT
Dated as of June 25, 2003
among
THE GAP, INC.
as Borrower,
THE SUBSIDIARIES OF THE BORROWER NAMED HEREIN,
as Subsidiary Borrowers,
THE SUBSIDIARIES OF THE BORROWER NAMED HEREIN,
as LC Subsidiaries,
THE BANKS AND FINANCIAL INSTITUTIONS NAMED HEREIN,
as Lenders,
THE BANKS NAMED HEREIN
as Issuing Banks,
CITIGROUP GLOBAL MARKETS INC.,
and
BANC OF AMERICA SECURITIES LLC,
as Joint Book Managers,
BANC OF AMERICA SECURITIES LLC,
HSBC BANK USA
and
J.P. MORGAN SECURITIES INC.,
as Co-Syndication Agents,
CITIGROUP GLOBAL MARKETS INC.,
BANC OF AMERICA SECURITIES LLC
and
J.P. MORGAN SECURITIES INC.,
as Joint Lead Arrangers,
and
CITICORP USA, INC.,
as Agent
for the Issuing Banks and the Lenders from time to time party hereto
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
{S} {C}
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01 Certain Defined Terms............................................................ 1
SECTION 1.02 Computation of Time Periods......................................................22
SECTION 1.03 Accounting Terms.................................................................22
ARTICLE II
AMOUNTS AND TERMS OF THE ADVANCES
SECTION 2.01 The Advances.....................................................................22
SECTION 2.02 Making the Advances..............................................................23
SECTION 2.03 Fees.............................................................................26
SECTION 2.04 Reduction and Increase of the Commitments; Reduction and Increase of the
Swing Line Commitment; Additional Issuing Banks..................................26
SECTION 2.05 Repayment of Advances............................................................30
SECTION 2.06 Interest on Advances.............................................................30
SECTION 2.07 Additional Interest on Eurodollar Rate Advances..................................31
SECTION 2.08 Interest Rate Determination......................................................31
SECTION 2.09 Voluntary Conversion of Advances.................................................32
SECTION 2.10 Prepayments of Advances..........................................................32
SECTION 2.11 Increased Costs..................................................................33
SECTION 2.12 Illegality.......................................................................34
SECTION 2.13 Borrower Guaranty................................................................35
SECTION 2.14 Subsidiary Borrowers.............................................................40
ARTICLE III
AMOUNT AND TERMS OF LETTERS OF
CREDIT AND PARTICIPATIONS THEREIN
SECTION 3.01 Letters of Credit................................................................40
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
SECTION 3.02 Limitation on the Issuance of Letters of Credit Denominated in Alternative
Currencies.......................................................................41
SECTION 3.03 Issuing the Letters of Credit....................................................41
SECTION 3.04 Reimbursement Obligations........................................................41
SECTION 3.05 Participations Purchased by the Lenders..........................................42
SECTION 3.06 Letter of Credit Fees............................................................43
SECTION 3.07 Indemnification; Nature of the Issuing Banks' Duties.............................44
SECTION 3.08 Increased Costs..................................................................45
SECTION 3.09 Uniform Customs and Practice.....................................................46
SECTION 3.10 Reductions and Increases in Issuing Commitment...................................46
SECTION 3.11 Existing Letters of Credit.......................................................46
SECTION 3.12 Currency Provisions..............................................................47
SECTION 3.13 Borrower Guaranty................................................................48
SECTION 3.14 Dollar Payment Obligation........................................................51
SECTION 3.15 Applications; Survival of Provisions; Cash Collateral............................51
SECTION 3.16 LC Subsidiaries..................................................................51
ARTICLE IV
PAYMENTS, TAXES, EXTENSIONS, ETC.
SECTION 4.01 Payments and Computations/Borrowings.............................................52
SECTION 4.02 Taxes/Borrowings.................................................................53
SECTION 4.03 Sharing of Payments, Etc./Borrowings.............................................56
SECTION 4.04 Evidence of Debt/Borrowings......................................................57
SECTION 4.05 Payments and Computations/Letters of Credit......................................57
SECTION 4.06 Taxes/Letters of Credit..........................................................59
SECTION 4.07 Sharing of Payments, Etc./Letters of Credit......................................62
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
ARTICLE V
CONDITIONS OF LENDING
SECTION 5.01 Conditions Precedent to Effectiveness of this Agreement..........................62
SECTION 5.02 Conditions Precedent to Each Advance/Issuance....................................64
ARTICLE VI
REPRESENTATIONS AND WARRANTIES
SECTION 6.01 Representations and Warranties of the Borrower...................................65
ARTICLE VII
COVENANTS OF THE BORROWER
SECTION 7.01 Affirmative Covenants............................................................68
SECTION 7.02 Negative Covenants...............................................................73
SECTION 7.03 Financial Covenants..............................................................80
SECTION 7.04 Reporting Requirements...........................................................81
ARTICLE VIII
EVENTS OF DEFAULT
SECTION 8.01 Events of Default................................................................83
ARTICLE IX
THE AGENT
SECTION 9.01 Authorization and Action.........................................................86
SECTION 9.02 Agent's Reliance, Etc............................................................87
SECTION 9.03 CUSA, Citibank and Affiliates....................................................87
SECTION 9.04 Lender Credit Decision...........................................................88
SECTION 9.05 Indemnification..................................................................88
SECTION 9.06 Successor Agent..................................................................89
SECTION 9.07 Co-Syndication Agents, Joint Book Managers and Joint Lead Arrangers..............89
SECTION 9.08 Release of Collateral............................................................90
SECTION 9.09 Release of Guarantor/Domestic Subsidiary.........................................90
{/TABLE}
iii
{PAGE}
{TABLE}
{S} {C}
SECTION 9.10 Actions in Respect of Intercreditor Agreement....................................90
ARTICLE X
MISCELLANEOUS
SECTION 10.01 Amendments, Etc.................................................................90
SECTION 10.02 Notices, Etc....................................................................91
SECTION 10.03 No Waiver; Remedies.............................................................92
SECTION 10.04 Costs and Expenses..............................................................92
SECTION 10.05 Right of Set-off................................................................93
SECTION 10.06 Binding Effect..................................................................94
SECTION 10.07 Assignments and Participations..................................................94
SECTION 10.08 Severability of Provisions......................................................97
SECTION 10.09 Independence of Provisions......................................................97
SECTION 10.10 Confidentiality.................................................................97
SECTION 10.11 Headings........................................................................98
SECTION 10.12 Entire Agreement................................................................98
SECTION 10.13 Execution in Counterparts.......................................................98
SECTION 10.14 Consent to Jurisdiction.........................................................98
SECTION 10.15 GOVERNING LAW...................................................................99
SECTION 10.16 WAIVER OF JURY TRIAL............................................................99
{/TABLE}
iv
{PAGE}
SCHEDULES AND EXHIBITS
SCHEDULES
Schedule I-A - Commitment Amounts
Schedule I-B - List of Applicable Lending Offices
Schedule II - Existing Liens
Schedule III - Change of Control
Schedule IV - Outstanding Balance of Existing Letters of Credit
Schedule V - LC Subsidiaries
Schedule VI - Subsidiary Borrowers
Schedule VII - Permitted Investments
Schedule VIII - Plans
Schedule IX - Special Purpose Subsidiaries
Schedule X - ERISA Matters
Schedule XI - Subsidiaries of the Borrower
Schedule XII - Environmental Matters
Schedule XIII - Existing Debt
Schedule XIV - Excluded Subsidiaries
Schedule XV - Hedge Subsidiaries
EXHIBITS
Exhibit A - Notice of Borrowing
Exhibit B - Form of Promissory Note
Exhibit C - Form of Assignment and Acceptance
Exhibit D - Form of Subsidiary Guaranty
Exhibit E - Form of Security Agreement
Exhibit F-1 - Form of Opinion of Counsel to the Loan Parties
Exhibit F-2 - Form of UCC Opinion of Special New York Counsel to the
Loan Parties
Exhibit F-3 - Form of Corporate Opinion of Special New York Counsel to
the Loan Parties
Exhibit G - Form of Opinion of Special New York Counsel to the Agent
Exhibit H - Form of Assumption Agreement
Exhibit I - Form of Compliance Certificate
{PAGE}
CREDIT AGREEMENT, dated as of June 24, 2003 (this "Agreement"),
among The Gap, Inc., a Delaware corporation (the "Borrower"), the LC
Subsidiaries (as hereinafter defined), the Subsidiary Borrowers (as hereinafter
defined), the banks and financial institutions (the "Lenders") listed on the
signature pages hereof, the Issuing Banks (as hereinafter defined), Citigroup
Global Markets Inc. ("CGMI") and Banc of America Securities LLC ("BAS") as joint
book managers (the "Joint Book Managers"), BAS, HSBC Bank USA ("HSBC") and J.P.
Morgan Securities Inc. ("JP Morgan") as co-syndication agents (the
"Co-Syndication Agents"), CGMI, BAS and JP Morgan as joint lead arrangers (the
"Joint Lead Arrangers"), and Citicorp USA, Inc. ("CUSA"), as agent (the "Agent")
for the Lenders and the Issuing Banks hereunder.
PRELIMINARY STATEMENTS:
(1) The Borrower, certain of its subsidiaries, certain banks
and financial institutions, and the Agent entered into a Credit
Agreement dated as of March 7, 2002 (the "Existing Credit Agreement").
(2) The Borrower, the LC Subsidiaries, the Subsidiary
Borrowers, the Lenders, the Issuing Banks, the Joint Book Managers, the
Co-Syndication Agents, the Joint Lead Arrangers and the Agent desire to
enter into this Agreement to replace in part the Existing Credit
Agreement and provide other financing facilities to the Borrower, the LC
Subsidiaries and the Subsidiary Borrowers as set forth below.
NOW THEREFORE, the Borrower, the LC Subsidiaries, the Subsidiary
Borrowers, the Lenders, the Issuing Banks, the Joint Book Managers, the
Co-Syndication Agents, the Joint Lead Arrangers and the 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 an advance by Lender to the Borrower as part of
a Borrowing and refers to a Base Rate Advance or a Eurodollar Rate
Advance, each of which shall be a "Type" of Advance; and means a Swing
Line Advance by a Swing Line Lender to a Subsidiary Borrower as the
context may require.
"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.
"Alternative Currency" means any lawful currency other than
Dollars which is freely transferable and convertible into Dollars and
which an Issuing Bank or Swing Line Lender can obtain in the ordinary
course of its business.
129951
|
MetLife
As referenced in this Credit Agreement:
Metropolitan Life Insurance Co – 617-434-6685 Fax: 617-434-9933 or 617-434-6685
------------------------------------------------------------------------------------------------------------------
{/TABLE}
2
{PAGE}
Schedule II
EXISTING LIENS
LANDLORD LIENS:
Lease Agreement, between Metropolitan Life Insurance Co mpany, on behalf of the
Tower Fund, a commingled separate account, as Landlord and The Gap, Inc., as
Tenant for Gateway Business Center,
_____________
dt 102776
;
ABN AMRO Bank
As referenced in this Credit Agreement:
ABN AMRO BANK – s/ Stephen J. Garvin
---------------------------------------------
Name: Stephen J. Garvin
Title: Managing Director
{PAGE}
THE MANAGING AGENTS:
ABN AMRO BANK N.V.
By: /s/ Angela Noique
---------------------------------------------
Name: Angela Noique
Title: Group Vice President
By: /s/
ABN AMRO BANK – PAGE}
FLEET NATIONAL BANK
By: /s/ Stephen Garvin
---------------------------------------------
Name: Stephen Garvin
Title: Managing Director
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Angela Noique
---------------------------------------------
Name: Angela Noique
Title: Group Vice President
By: /s/
ABN AMRO BANK – OF AMERICA, N.A.
By: /s/ Amy Krovocheck
---------------------------------------------
Name: Amy Krovocheck
Title: Vice President
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Angela Noique
---------------------------------------------
Name: Angela Noique
Title: Group Vice President
By: /s/
ABN Amro Bank – Lender $ 55,000,000 N/A
Fleet Bank, as Lender $ 55,000,000 N/A
ABN Amro Bank N.V., as Lender $ 45,000,000 N/A
Wells Fargo Bank N.A., as
ABN AMRO Bank – 716-841-1930 Tel: 716-841-1930
Fax: 716 841-0269 Fax: 716 841-0269
------------------------------------------------------------------------------------------------------------------
ABN AMRO Bank N.V. 208 South LaSalle Street, Suite 1500 208 South LaSalle Street, Suite 1500
Chicago,
dt 45198
;
Citibank
As referenced in this Credit Agreement:
Citibank, N.A. – or any group of Persons in which one or more of the Persons
listed on Schedule III are members.
4
{PAGE}
"Citibank" means Citibank, N.A. .
"Collateral" means all of the "Collateral" referred to in the
Collateral Documents and all of the other property and assets that are
_____________
CITIBANK, N.A. – Corporate
{PAGE}
FIRST NATIONAL BANK OF OMAHA
By: /s/ Martha H. Baratta
---------------------------------------------
Name: Martha H. Baratta
Title: Vice President
{PAGE}
THE ISSUING BANKS:
CITIBANK, N.A.
By: /s/ Judith Green
---------------------------------------------
Name: Judith Green
Title: Vice President
HSBC BANK USA
By: /s/ Anne Serewicz
---------------------------------------------
Name: Anne Serewicz
Title: Senior
_____________
CITIBANK, N.A. – Senior Vice President
BANK OF AMERICA, N.A.
By: /s/ Amy Krovocheck
---------------------------------------------
Name: Amy Krovocheck
Title: Vice President
{PAGE}
THE SWING LINE LENDERS:
CITIBANK, N.A.
By: /s/ Judith Green
---------------------------------------------
Name: Judith Green
Title: Vice President
{PAGE}
HSBC BANK USA
By: /s/ Anne Serewicz
---------------------------------------------
Name: Anne Serewicz
Title:
_____________
Citibank, N.A. – A
Fifth Third Bank, as Lender $ 25,000,000 N/A
First National Bank of Omaha, as Lender $ 17,500,000 N/A
Citibank, N.A. , as Issuing Bank N/A $ 250,000,000
Bank of America, N.A., as Issuing Bank N/A $ 250,000,000
HSBC
_____________
Citibank, N.A. – LENDING OFFICES
{TABLE}
{CAPTION}
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Lender Domestic Lending Office Eurodollar Lending Office
------ ----------------------- -------------------------
------------------------------------------------------------------------------------------------------------------
{S} {C} {C}
Citicorp USA Inc./ 2 Penns Way 2 Penns Way
Citibank, N.A. New Castle, DE 19720 New Castle, DE 19720
Attn: Lisa Rodriguez Attn: Lisa Rodriguez
Tel: 302-894-6070 Tel: 302-894-6070
_____________
dt 145836
;
|
Citicorp
As referenced in this Credit Agreement:
Citicorp North
America, – Lending Office specified opposite its name in Schedule I-B
hereto; with a copy, in the case of notices to the Agent, to Citicorp North
America, Inc., One Sansome Street, San Francisco, California, Attention: Carolyn
Wendler, Telecopier: 415-433-0307, email carolyn.wendler@citigroup.com, or, as
to
_____________
Citicorp North America, – SUBSIDIARY GUARANTY
FORM OF SUBSIDIARY GUARANTY SUPPLEMENT
___________ ___, ____
Citicorp USA, Inc.
399 Park Avenue
New York, NY 10043
Attention: Credit Administration
Citicorp North America, Inc.
One Sansome Street
San Francisco, CA
Attention: Carolyn Wendler
Telecopier: 415-433-0307
Credit Agreement dated as of June 24, 2003
_____________
Citicorp North America, – Credit Agreement referred to below
399 Park Avenue
New York, NY 10043
Attn: Credit Administration
Telecopier: 302-894-6120
With a copy to:
Citicorp North America, Inc.
One Sansome Street
San Francisco, CA
Attn: Carolyn Wendler
Telecopier: 415-433-0307
The Gap, Inc.
Ladies and Gentlemen:
Reference is
_____________
dt 158158
;
Citicorp USA
As referenced in this Credit Agreement:
CITICORP USA, INC – Co-Syndication Agents,
CITIGROUP GLOBAL MARKETS INC.,
BANC OF AMERICA SECURITIES LLC
and
J.P. MORGAN SECURITIES INC.,
as Joint Lead Arrangers,
and
CITICORP USA, INC .,
as Agent
for the Issuing Banks and the Lenders from time to time party hereto
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
{
_____________
Citicorp USA, Inc – Morgan") as co-syndication agents (the
"Co-Syndication Agents"), CGMI, BAS and JP Morgan as joint lead arrangers (the
"Joint Lead Arrangers"), and Citicorp USA, Inc . ("CUSA"), as agent (the "Agent")
for the Lenders and the Issuing Banks hereunder.
PRELIMINARY STATEMENTS:
(1) The Borrower, certain of its subsidiaries,
_____________
CITICORP USA, INC – Title: Senior Vice President and
Treasurer
Address for Notices:
2 Folsom Street
San Francisco, CA 94105
Attn: General Counsel
111
{PAGE}
THE AGENT:
CITICORP USA, INC .
By: /s/ Judith Green
---------------------------------------------
Name: Judith Green
Title: Vice President
THE JOINT BOOK MANAGERS:
CITIGROUP GLOBAL MARKETS INC.
By: /s/ Wajeeh Faheem
---------------------------------------------
_____________
CITICORP USA, INC – III
Title: Assistant Vice President
WELLS FARGO BANK N.A.
By: /s/ Jeff Bailard
---------------------------------------------
Name: Jeff Bailard
Title: Vice President
{PAGE}
THE LENDERS:
CITICORP USA, INC .
By: /s/ Judith Green
---------------------------------------------
Name: Judith Green
Title: Vice President
{PAGE}
JPMORGAN CHASE BANK
By: /s/ Barry K. Bergman
---------------------------------------------
Name: Barry K.
_____________
Citicorp USA, Inc – PAGE}
Schedule I-B: List of Applicable Lending Offices
Citi provides
{PAGE}
Schedule I-A
COMMITMENT AMOUNTS
LENDER / ISSUING BANK COMMITMENT ISSUING COMMITMENT
------------------------------------------ -------------- ------------------
Citicorp USA, Inc ., as Lender $ 90,000,000 N/A
JPMorgan Chase Bank, as Lender $ 90,000,000 N/A
Bank of America, N.A.,
_____________
dt 164951
;
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| 2002 |
Credit Agreement [Amendment No. 3]
Credit Agreement [Amendment No. 3] (39K)
Doc #201267: Click preview link for longer preview.
AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT
This AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT, dated as of July 18,
2001 (the "Amendment"), amends in certain respects the Credit Agreement dated as
of June 12, 1997, as amended and restated as of February 27, 1998 and as further
amended and restated as of June 29, 1999, and as amended to the date hereof (as
further amended, amended and restated, supplemented or otherwise modified from
time to time, the "Credit Agreement"), among Foamex, L.P., a Delaware limited
partnership ("Foamex"), FMXI, Inc., a Delaware corporation and managing general
partner of Foamex ("FMXI"), the institutions from time to time party thereto as
Lenders, the institutions from time to time a party thereto as Issuing Banks,
Citicorp USA, Inc., a Delaware corporation ("Citicorp"), in its capacity as the
collateral agent for the Lenders and the Issuing Banks (in such capacity, the
"Collateral Agent") and The Bank of Nova Scotia ("Scotiabank"), in its capacity
as funding agent for the Lenders and the Issuing Banks (in such capacity, the
"Funding Agent", and together with the Collateral Agent, the "Administrative
Agents").
W I T N E S S E T H:
WHEREAS, Foamex has entered into an Asset Purchase Agreement, dated as
of July 6, 2001 (the "Purchase Agreement"), by and among General Foam
Corporation, GFC-East Rutherford, LLC, GFC-Foam, LLC, GFC-Trucking Inc. and
GFC-Fabricating LLC, as Sellers (collectively, the "Sellers"), and PMC, Inc. as
guarantor, and Foamex as the purchaser;
WHEREAS, the consent of the Requisite Lenders is necessary for the
consummation by Foamex of the transactions contemplated by the Purchase
Agreement (the "Subject Transaction") and Foamex has requested the Requisite
Lenders to so consent to the Subject Transaction;
WHEREAS, the Requisite Lenders are willing, on the terms and conditions
set forth herein, to consent to the Subject Transaction;
WHEREAS, due to recently enacted changes to the UCC, it is necessary to
amend the Security Agreement and the Subsidiary Security Agreements to conform
such documents to the requirements of the UCC, as so changed and in furtherance
of the obligations of Foamex under Section 4.1.7 of the Security Agreement and
Section 4.1.7 of the Subsidiary Security Agreements, Foamex hereby requests that
the Requisite Lenders consent to and instruct the Administrative Agents and the
Collateral Agent to enter into such amendments to the Security Agreement and the
Subsidiary Security Agreements that such agents deem necessary or desirable to
conform such Loan Documents to the requirements of the UCC as so changed;
{PAGE}
WHEREAS, the Requisite Lenders are willing, on the terms and conditions
set forth herein, to so consent to and instruct the Administrative Agents and
the Collateral Agent to enter into such amendments to the Security Agreement and
the Subsidiary Security Agreements;
WHEREAS, Foamex is requesting the Requisite Lenders to consent to the
acquisition by Foamex Asia, Inc. of an additional 69% of the issued and
outstanding capital stock of Foamex Asia Co., Ltd. ("Foamex Thailand") and in
connection therewith make certain payments and investments as more fully set
forth herein and to forgive certain outstanding intercompany debt of Foamex
Asia, Inc. (all such transactions being, collectively, the "Foamex Asia
Transaction");
WHEREAS, the Requisite Lenders are willing, on the terms and conditions
set forth herein, to so consent to the Foamex Asia Transaction;
WHERERAS, Foamex requests that the Requisite Lenders consent to (i)
yearly distributions to Foamex International to enable it to pay certain
ongoing, recurring ordinary course of business operating and administrative
expenses and (ii) a one time distribution to enable Foamex International to
repay a certain intercompany note payable to Foamex (collectively, the
"Distributions");
WHEREAS, the Requisite Lenders are willing, on the terms and conditions
set forth herein, to so consent to the Distribution;
NOW, THEREFORE, in consideration of the above recitals of Foamex and
FMXI, the Requisite Lenders party hereto and the Administrative Agents agree as
follows:
SECTION 1. Defined Terms. Terms defined in the Credit Agreement and not
otherwise defined herein have the meanings given such terms in the Credit
Agreement.
SECTION 2. Amendments to the Credit Agreement. The Credit Agreement is
hereby amended as follows:
SECTION 2.1. Amendment to Article 1 of the Credit Agreement. Article 1
of the Credit Agreement is hereby amended by the following:
2.1.1 New Definitions. The following definitions are hereby
inserted in Section 1.01 of the Credit Agreement in their
appropriate alphabetical place:
"Asia Promissory Note" is defined in Section
9.04(ix).
"Foamex Asia" means Foamex Asia, Inc., a Delaware
corporation.
"Foamex International Note" means the promissory note
of Foamex International, dated as of December 26, 1997 payable
to the order of Foamex in the currently outstanding principal
amount of $2,500,000.
201267
|
Citibank
As referenced in this Credit Agreement [Amendment No. 3]:
CITIBANK, N.A. – INC., as Administrative Agent,
Collateral Agent, individually as a Lender, and as
Intercreditor Collateral Agent
By /s/ James R. Williams
----------------------
Title: Vice President
CITIBANK, N.A. , as Issuing Bank
By /s/ James Williams
-------------------
Title: Vice President
THE BANK OF NOVA SCOTIA, As Administrative
Agent, Funding Agent, Issuing Bank,
_____________
dt 146301
;
Citicorp USA
As referenced in this Credit Agreement [Amendment No. 3]:
Citicorp USA, Inc – FMXI"), the institutions from time to time party thereto as
Lenders, the institutions from time to time a party thereto as Issuing Banks,
Citicorp USA, Inc ., a Delaware corporation ("Citicorp"), in its capacity as the
collateral agent for the Lenders and the Issuing Banks (in such capacity, the
"
_____________
CITICORP USA, INC – Inc.
its Managing General Partner
By /s/ G. L. Karpinski
-------------------
Title: Vice President
FMXI, INC.
By /s/ G. L. Karpinski
-------------------
Title: Vice President
CITICORP USA, INC ., as Administrative Agent,
Collateral Agent, individually as a Lender, and as
Intercreditor Collateral Agent
By /s/ James R. Williams
----------------------
Title: Vice President
_____________
dt 165023
;
|
Foamex Int'l
As referenced in this Credit Agreement [Amendment No. 3]:
foamex – EXHIBIT 4.10.16
{TEXT}
Exhibit 4.10.16
[EXECUTION COPY]
AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT
This AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT, dated as of July 18,
foamex – 16
[EXECUTION COPY]
AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT
This AMENDMENT NO. 3 TO FOAMEX CREDIT AGREEMENT, dated as of July 18,
2001 (the "Amendment"), amends in certain respects the
foamex, – amended and restated, supplemented or otherwise modified from
time to time, the "Credit Agreement"), among Foamex, L.P., a Delaware limited
partnership ("Foamex"), FMXI, Inc., a Delaware corporation and managing
"foamex" – from
time to time, the "Credit Agreement"), among Foamex, L.P., a Delaware limited
partnership ("Foamex" ), FMXI, Inc., a Delaware corporation and managing general
partner of Foamex ("FMXI"), the institutions
foamex – a Delaware limited
partnership ("Foamex"), FMXI, Inc., a Delaware corporation and managing general
partner of Foamex ("FMXI"), the institutions from time to time party thereto as
Lenders, the institutions from
dt 5457
;
Nova Scotia
As referenced in this Credit Agreement [Amendment No. 3]:
Bank of Nova Scotia – for the Lenders and the Issuing Banks (in such capacity, the
"Collateral Agent") and The Bank of Nova Scotia ("Scotiabank"), in its capacity
as funding agent for the Lenders and the Issuing Banks (
BANK OF NOVA SCOTIA, – President
CITIBANK, N.A., as Issuing Bank
By /s/ James Williams
-------------------
Title: Vice President
THE BANK OF NOVA SCOTIA, As Administrative
Agent, Funding Agent, Issuing Bank,
individually as a Lender,
and as Intercreditor
dt 50337
;
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| 2002 |
Credit Agreement [Amendment No. 4]
Credit Agreement [Amendment No. 4] (38K)
Doc #201268: Click preview link for longer preview.
AMENDMENT NO. 4 TO FOAMEX CREDIT AGREEMENT
This AMENDMENT NO. 4 TO FOAMEX CREDIT AGREEMENT (the "Amendment"),
dated as of December 21, 2001, amends in certain respects the Credit Agreement
dated as of June 12, 1997, as amended and restated as of February 27, 1998, and
as further amended and restated as of June 29, 1999, and as amended to the date
hereof (as further amended, amended and restated, supplemented or otherwise
modified from time to time, the "Credit Agreement"), among Foamex L.P., a
Delaware limited partnership ("Foamex"), FMXI, Inc., a Delaware corporation and
managing general partner of Foamex ("FMXI"), the institutions from time to time
party thereto as Lenders, the institutions from time to time a party thereto as
Issuing Banks, Citicorp USA, Inc., a Delaware corporation ("Citicorp"), in its
capacity as the collateral agent for the Lenders and the Issuing Banks (in such
capacity, the "Collateral Agent") and The Bank of Nova Scotia ("Scotiabank"), in
its capacity as funding agent for the Lenders and the Issuing Banks (in such
capacity, the "Funding Agent", and together with the Collateral Agent, the
"Administrative Agents").
W I T N E S S E T H:
WHEREAS, Foamex has requested the consent of the Requisite Lenders to
the consummation of certain transactions described in a summary, entitled
"Business Transformation Overview," which was made available to the Lenders on
December 11, 2001 (the "Transformation Plan");
WHEREAS, the consent of the Requisite Lenders is necessary for the
consummation by Foamex of the Transformation Plan and Foamex has requested the
Requisite Lenders to so consent to the Transformation Plan;
WHEREAS, the Requisite Lenders are willing, on the terms and conditions
set forth herein, to consent to the Transformation Plan;
NOW, THEREFORE, in consideration of the above recitals of Foamex and
FMXI, the Requisite Lenders party hereto and the Administrative Agents agree as
follows:
SECTION 1. Defined Terms. Terms defined in the Credit Agreement and not
otherwise defined herein have the meanings given such terms in the Credit
Agreement.
SECTION 2. Amendments to the Credit Agreement. The Credit Agreement is
hereby amended as follows:
SECTION 2.1. Amendment to Article 1 of the Credit Agreement. Article 1
of the Credit Agreement is hereby amended by the following:
2.1.1 New Definitions. The following definitions are hereby inserted in
{PAGE}
Section 1.01 of the Credit Agreement in their appropriate alphabetical
place:
"Amendment No. 4 Effective Date" has the meaning given to the
term "Amendment Effective Date" in the Amendment No. 4 to Foamex Credit
Agreement, dated as of December 21, 2001, among Foamex, FMXI, the
Lenders parties thereto, the Issuing Banks and the Administrative
Agents.
"Transformation Plan" means certain restructuring and other
related transactions described in a summary entitled "Business
Transformation Overview," made available to the Lenders on December 11,
2001.
2.1.2 Amendment to the definition of Applicable Margin. The definition
of Applicable Margin is hereby amended by adding the following at the
end thereof:
"Notwithstanding the foregoing, each of the above margins for
Loans shall be increased by an amount equal to .25% per annum
commencing on the Amendment No. 4 Effective Date.
2.1.3 Amendment to the definition of EBDAIT. The definition of EBDAIT
is hereby amended by (i) deleting the semicolon at the end of clause
(y) thereof, (ii) adding the underlined word "plus" at the end of
clause (y) thereof, (iii) adding a new clause (vii) to read as follows:
"(vii) any cash charges incurred in connection with the Transformation
Plan in an aggregate amount not to exceed $21,000,000" and (iv) adding
a semicolon at the end of the new clause (vii) thereof.
2.1.4 Amendment to the definition of Excess Cash Flow. The definition
of "Excess Cash Flow" is hereby amended by adding the following
provison to the end thereof:
"provided, further, however, (i) there shall be excluded from
the calculation of the increase or decrease in Consolidated Working
Capital for purposes of clauses (a)(iv) and (b)(viii) above the "costs,
expenses and other charges incurred in connection with the
Transformation Plan to the extent such items would otherwise constitute
current liabilities and (ii) the computation of Excess Cash Flow shall
be reduced by an amount (but to not less than $0) equal to any cash
charges and debt issuance costs paid in connection with the
Transformation Plan during such period".
2.1.5 Amendment to the definition of Consolidated Fixed Charges. The
definition of Consolidated Fixed Charges is hereby amended by inserting
at the end of clause (b) thereof, a new clause to read as follows:
"provided, however, if a scheduled payment of principal is required to
be made in a subsequent period because the scheduled principal payment
date is a non-Business Day in the current period, such scheduled
payment shall be included in the current period as if such payment were
made in the current period".
201268
|
Citibank
As referenced in this Credit Agreement [Amendment No. 4]:
CITIBANK, N.A. – Agent,
Collateral Agent, individually as a Lender, and as
Intercreditor Collateral Agent
By: /s/ James R. Williams
Name: James R. Williams
Vice President
CITIBANK, N.A. , as Issuing Bank
By: /s/ James R. Williams
Name: James R. Williams
Vice President
THE BANK OF NOVA SCOTIA, as Administrative Agent,
_____________
dt 146302
;
Citicorp USA
As referenced in this Credit Agreement [Amendment No. 4]:
Citicorp USA, Inc – FMXI"), the institutions from time to time
party thereto as Lenders, the institutions from time to time a party thereto as
Issuing Banks, Citicorp USA, Inc ., a Delaware corporation ("Citicorp"), in its
capacity as the collateral agent for the Lenders and the Issuing Banks (in such
capacity, the "
_____________
CITICORP USA, INC – Partner
By: /s/ G.L. Karpinski
G. L. Karpinski
Vice President
FMXI, INC.
By: /s/ G.L. Karpinski
-------------------
G. L. Karpinski
Vice President
CITICORP USA, INC ., as Administrative Agent,
Collateral Agent, individually as a Lender, and as
Intercreditor Collateral Agent
By: /s/ James R. Williams
Name: James R.
_____________
dt 165024
;
|
Nova Scotia
As referenced in this Credit Agreement [Amendment No. 4]:
Bank of Nova Scotia – for the Lenders and the Issuing Banks (in such
capacity, the "Collateral Agent") and The Bank of Nova Scotia ("Scotiabank"), in
its capacity as funding agent for the Lenders and the Issuing Banks (
BANK OF NOVA SCOTIA, – as Issuing Bank
By: /s/ James R. Williams
Name: James R. Williams
Vice President
THE BANK OF NOVA SCOTIA, as Administrative Agent,
Funding Agent, Issuing Bank, individually as a
Lender, and as Intercreditor
dt 50338
;
More... |
Preview
Full Doc
| 2004 |
Credit Agreement
Credit Agreement (453K)
Doc #206935: Click preview link for longer preview.
================================================================================
CREDIT AGREEMENT
AMONG
WELLMAN, INC., AND
THE OTHER BORROWERS NAMED HEREIN
AS BORROWERS,
WITH
WELLMAN, INC.,
AS FUNDS ADMINISTRATOR,
THE LENDERS SIGNATORY HERETO
FROM TIME TO TIME,
AS LENDERS,
AND
DEUTSCHE BANK TRUST COMPANY AMERICAS,
AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
DEUTSCHE BANK SECURITIES INC.,
AS LEAD ARRANGER AND BOOKRUNNER
JP MORGAN CHASE BANK,
AS SYNDICATION AGENT
GENERAL ELECTRIC CAPITAL CORPORATION,
LASALLE BUSINESS CREDIT, LLC,
AS CO-DOCUMENTATION AGENTS
DATED AS OF FEBRUARY 10, 2004
================================================================================
<PAGE>
TABLE OF CONTENTS
<TABLE>
<S> <C>
ARTICLE 1 DEFINITIONS.................................................................................... 2
1.1 General Definitions............................................................................ 2
1.2 Accounting Terms and Determinations............................................................ 35
1.3 Other Interpretive Provisions.................................................................. 36
ARTICLE 2 LOANS.......................................................................................... 36
2.1 Commitments; Delivery of Notes................................................................. 36
2.2 Borrowing Mechanics; Interim Advances.......................................................... 37
2.3 Settlements Among the Agents and the Lenders................................................... 39
2.4 Mandatory Payment; Mandatory Reduction of Commitments.......................................... 41
2.5 Payments and Computations...................................................................... 42
2.6 Maintenance of Account......................................................................... 43
2.7 Statement of Account........................................................................... 44
2.8 Withholding and Other Taxes.................................................................... 44
2.9 Affected Lenders............................................................................... 47
2.10 Sharing of Payments............................................................................ 48
ARTICLE 3 LETTERS OF CREDIT.............................................................................. 49
3.1 Issuance of Letters of Credit.................................................................. 49
3.2 Procedure for Issuance......................................................................... 50
3.3 Terms of Letters of Credit..................................................................... 51
3.4 Lenders' Participation......................................................................... 51
3.5 Maturity of Drawings; Interest Thereon......................................................... 52
3.6 Payment of Amounts Drawn Under Letters of Credit; Funding of L/C Participations................ 52
3.7 Nature of Issuing Bank's Duties................................................................ 53
3.8 Obligations Absolute........................................................................... 54
ARTICLE 4 INTEREST, FEES AND EXPENSES.................................................................... 55
4.1 Interest on LIBOR Rate Loans................................................................... 55
4.2 Interest on Prime Rate Loans................................................................... 55
4.3 Notice of Continuation and Notice of Conversion................................................ 56
4.4 Interest After Event of Default................................................................ 58
4.5 Unused Line Fees............................................................................... 58
4.6 Letter of Credit Fees.......................................................................... 58
4.7 Reimbursement of Expenses...................................................................... 59
4.8 Authorization to Charge Borrowers' Accounts.................................................... 59
4.9 Indemnification in Certain Events.............................................................. 59
4.10 Calculations and Determinations................................................................ 60
</TABLE>
i
<PAGE>
<TABLE>
<S> <C>
ARTICLE 5 CONDITIONS PRECEDENT........................................................................... 60
5.1 Conditions to Initial Credit Event............................................................. 60
5.2 Conditions to Each Credit Event................................................................ 62
ARTICLE 6 REPRESENTATIONS AND WARRANTIES................................................................. 62
6.1 Organization and Qualification................................................................. 62
6.2 Solvency....................................................................................... 63
6.3 Rights in Collateral; Priority of Liens........................................................ 63
6.4 Company Power and Authority.................................................................... 63
6.5 No Violation................................................................................... 63
6.6 Consents....................................................................................... 63
6.7 Financial Data................................................................................. 64
6.8 Locations of Officers, Records and Inventory................................................... 64
6.9 Fictitious Business Names...................................................................... 64
6.10 Subsidiaries................................................................................... 64
6.11 No Judgments or Litigation..................................................................... 65
6.12 Environmental Matters.......................................................................... 65
6.13 Labor Matters.................................................................................. 66
6.14 Compliance with Law............................................................................ 66
6.15 ERISA.......................................................................................... 66
6.16 Intellectual Property.......................................................................... 67
6.17 Licenses and Permits........................................................................... 67
6.18 Title to Property.............................................................................. 68
6.19 Governmental Regulations....................................................................... 68
6.20 Borrowers' Taxes and Tax Returns............................................................... 68
6.21 Status of Accounts............................................................................. 69
6.22 Material Contracts and Restrictions............................................................ 69
6.23 Affiliate Transactions......................................................................... 69
6.24 Accuracy and Completeness of Information....................................................... 69
6.25 Recording Taxes and Fees....................................................................... 70
6.26 No Adverse Change or Event..................................................................... 70
6.27 Perfection Certificates........................................................................ 70
6.28 Representations and Warranties in Documents.................................................... 70
6.29 Indebtedness................................................................................... 71
6.30 Transactions................................................................................... 71
6.31 Insurance...................................................................................... 71
6.32 Use of Proceeds; Margin Stock, Etc............................................................. 71
6.33 Anti-Terrorism Law............................................................................. 71
6.34 Accounts....................................................................................... 72
ARTICLE 7 AFFIRMATIVE COVENANTS.......................................................................... 73
7.1 Financial Information.......................................................................... 73
7.2 Certain Collateral............................................................................. 75
7.3 Corporate Existence and Compliance with Laws................................................... 75
</TABLE>
ii
<PAGE>
<TABLE>
<S> <C>
7.4 ERISA.......................................................................................... 76
7.5 Books and Records.............................................................................. 76
7.6 Collateral Records............................................................................. 77
7.7 Security Interests............................................................................. 77
7.8 Insurance; Casualty Loss....................................................................... 77
7.9 Borrower's Taxes............................................................................... 78
7.10 Environmental Matters.......................................................................... 79
7.11 Use of Proceeds................................................................................ 79
7.12 Fiscal Year.................................................................................... 79
7.13 Notification of Certain Events................................................................. 79
7.14 Intellectual Property.......................................................................... 80
7.15 Maintenance of Property........................................................................ 80
7.16 Further Assurances............................................................................. 80
7.17 Annual Meetings with Lenders................................................................... 80
7.18 Interest Rate Protection....................................................................... 81
7.19 Additional Security............................................................................ 81
ARTICLE 8 NEGATIVE COVENANTS............................................................................. 82
8.1 Minimum Consolidated Fixed Charge Coverage Ratio............................................... 82
8.2 Capital Expenditures........................................................................... 82
8.3 No Additional Indebtedness..................................................................... 83
8.4 No Liens; Judgments............................................................................ 85
8.5 No Sale of Assets.............................................................................. 87
8.6 No Corporate Changes........................................................................... 87
8.7 No Guaranties.................................................................................. 87
8.8 No Restricted Payments......................................................................... 88
8.9 No Investments................................................................................. 88
8.10 No Affiliate Transactions...................................................................... 90
8.11 Limitation on Transactions Under ERISA......................................................... 90
8.12 Material Amendments of Term Loan Facilities.................................................... 91
8.13 Additional Restrictive Covenants............................................................... 91
8.14 New Collateral Locations....................................................................... 91
8.15 New Accounts................................................................................... 91
8.16 No Excess Cash................................................................................. 91
8.17 Voluntary Prepayment of Debt................................................................... 92
8.18 Limitation on Preferred Stock of Subsidiaries.................................................. 92
8.19 Embargoed Person............................................................................... 92
8.20 No Accounting Changes.......................................................................... 92
8.21 Insurance Subsidiary........................................................................... 93
8.22 Anti-Terrorism Law; Anti-Money Laundering...................................................... 93
ARTICLE 9 EVENTS OF DEFAULT AND REMEDIES................................................................. 93
9.1 Events of Default.............................................................................. 93
9.2 Acceleration and Cash Collateralization........................................................ 95
9.3 Remedies....................................................................................... 96
</TABLE>
iii
<PAGE>
<TABLE>
<S> <C>
9.4 Actions in Concert............................................................................. 97
ARTICLE 10 THE AGENT...................................................................................... 97
10.1 Appointment of Agent........................................................................... 97
10.2 Nature of Duties of Agent...................................................................... 97
10.3 Lack of Reliance on the Agent.................................................................. 98
10.4 Certain Rights of the Agent.................................................................... 98
10.5 Reliance by the Agent.......................................................................... 98
10.6 Indemnification of Agent....................................................................... 99
10.7 The Agent in its Individual Capacity........................................................... 99
10.8 Holders of Notes............................................................................... 99
10.9 Successor Agent................................................................................ 99
10.10 Collateral Matters............................................................................. 100
10.11 Actions with Respect to Defaults............................................................... 102
10.12 Delivery of Information........................................................................ 102
10.13 Other Agents................................................................................... 102
ARTICLE 11 MISCELLANEOUS.................................................................................. 102
11.1 SUBMISSION TO JURISDICTION; WAIVERS............................................................ 102
11.2 JURY TRIAL..................................................................................... 103
11.3 GOVERNING LAW.................................................................................. 103
11.4 Delays; Partial Exercise of Remedies........................................................... 104
11.5 Notices........................................................................................ 104
11.6 Assignability.................................................................................. 104
11.7 Confidentiality................................................................................ 107
11.8 Indemnification................................................................................ 107
11.9 Entire Agreement; Successors and Assigns....................................................... 108
11.10 Amendments, Etc................................................................................ 108
11.11 Nonliability of Agent and Lenders.............................................................. 110
11.12 Counterparts................................................................................... 110
11.13 Effectiveness.................................................................................. 110
11.14 Severability................................................................................... 110
11.15 Headings Descriptive........................................................................... 110
11.16 Maximum Rate................................................................................... 110
11.17 Right of Setoff................................................................................ 111
11.18 Defaulting Lender.............................................................................. 111
11.19 Rights Cumulative.............................................................................. 113
11.20 Third Party Beneficiaries...................................................................... 113
11.21 Joint and Several Liability of Borrowers....................................................... 113
11.22 Appointment and Authorization of Funds Administrator........................................... 114
</TABLE>
iv
<PAGE>
ANNEXES
ANNEX I Lenders; Commitments; Lending Offices
ANNEX II Closing Document List
EXHIBITS
EXHIBIT A Form of Assignment and Assumption Agreement
EXHIBIT B Form of Note
EXHIBIT C Form of Notice of Borrowing
EXHIBIT C-1 Form of Notice of Continuation/Conversion
EXHIBIT C-2 Form of Letter of Credit Request
EXHIBIT D Form of Compliance Certificate
EXHIBIT E Form of Borrowing Base Certificate
SCHEDULES
SCHEDULE A Closing Document List
SCHEDULE B, PART 6.1 Jurisdictions Qualified to Do Business
SCHEDULE B, PART 6.8 Principal Places of Business; Chief Executive
Offices;
Locations of Books and Records;
Other Locations of Collateral
SCHEDULE B, PART 6.10 Subsidiaries
SCHEDULE B, PART 6.11 Outstanding Judgments; Orders; Waivers
SCHEDULE B, PART 6.15 ERISA Matters
SCHEDULE B, PART 6.18 Real Property
SCHEDULE B, PART 6.20 Tax Matters
SCHEDULE B, PART 6.23 Affiliate Transactions
SCHEDULE B, PART 6.26 Certain Events
SCHEDULE B, PART 6.29 Existing Indebtedness
SCHEDULE B, PART 6.31 Insurance
SCHEDULE B, PART 6.34 Bank Accounts
SCHEDULE B, PART 8.4 Existing Liens
SCHEDULE B, PART 8.9 Investments
v
<PAGE>
CREDIT AGREEMENT
This Credit Agreement is dated as of February 10, 2004 and entered into
by and among Wellman, Inc., a Delaware corporation ("WELLMAN"), Prince, Inc., a
Delaware corporation ("PRINCE"), Wellman of Mississippi, Inc., a Delaware
corporation ("WELLMAN MISSISSIPPI"), Carpet Recycling of Georgia, Inc., a
Georgia corporation ("CARPET"), ALG, Inc., a Delaware corporation ("ALG"),
PermaClear East Incorporated, a Delaware corporation ("PERMACLEAR"), PTA
Resources, LLC, a Delaware limited liability company ("PTA RESOURCES"), Wellman
Resins, LLC, a Delaware limited liability company ("RESINS") and Fiber
Industries, Inc., a Delaware corporation ("FIBER" and, together with Wellman,
Prince, Wellman Mississippi, Carpet, ALG, PermaClear, PTA Resources and Resins,
each individually referred to herein as a "BORROWER" and collectively as
"BORROWERS" with Wellman acting in its capacity as Funds Administrator for the
Borrowers), each of the Lenders from time to time party hereto and Deutsche Bank
Trust Company Americas, acting in its capacity as administrative agent (the
"ADMINISTRATIVE AGENT") and collateral agent ("COLLATERAL AGENT") for the
Lenders hereunder (in its capacities as Administrative Agent and Collateral
Agent, the "AGENT"). Capitalized terms used in this Credit Agreement shall have
the meanings ascribed to them in SECTION 1.1.
RECITALS
WHEREAS, Borrowers have requested that Lenders extend credit facilities
to Borrowers of up to one hundred seventy five million Dollars ($175,000,000) in
the aggregate for the purpose of (a) refinancing certain indebtedness of
Borrowers, (b) providing working capital financing for Borrowers and for general
corporate purposes and (c) funding other purposes permitted hereunder;
WHEREAS, Borrowers have agreed to secure all of their obligations under
the credit facilities provided herein by granting to Agent, for the benefit of
Agent and Lenders, a security interest in and lien upon all of their existing
and after-acquired Accounts, Inventory, certain Investment Property and certain
general intangibles;
WHEREAS, KHL, Inc., a Delaware corporation ("KHL"), Warehouse
Associates, Inc. USA, a South Carolina corporation ("Warehouse"), Finwell, Inc.,
a Delaware corporation ("FINWELL"), MRF, Inc., a Delaware corporation ("MRF"),
Josdav Inc., a Delaware corporation ("JOSDAV"), FIISB, Inc., a Delaware
corporation ("FIISB"), Wellman Exports, V.I. Inc., a United States Virgin
Islands corporation, ("EXPORT") and MED Resins, Inc., a Delaware corporation
("MED RESINS" and together with KHL, Warehouse, Finwell, MRF, Josdav, Export,
FIISB and certain other material Domestic Subsidiaries, the "SUBSIDIARY
GUARANTORS"), are willing to (a) guarantee all of the Obligations of Borrowers
to Agent and Lenders and (b) secure their respective guarantees by granting to
Agent, for the benefit of Agent and Lenders, a security interest in and lien
upon all of their respective existing and after-acquired Accounts, Inventory,
certain Investment Property and certain general intangibles; and
WHEREAS, based on the foregoing, Lenders are willing to make such
credit facilities available to Borrowers subject to the terms and condition set
forth herein;
<PAGE>
NOW, THEREFORE, in consideration of the premises and the mutual
covenants hereinafter contained, and for other good and valuable consideration,
the parties hereto agree as follows:
ARTICLE 1
DEFINITIONS
1.1 GENERAL DEFINITIONS. As used herein, the following terms shall
have the meanings herein specified:
"ACCOUNTS" shall mean, with respect to any Person, all of such Person's
accounts, whether existing now or in the future, including, without limitation,
(a) all accounts receivable of such Person or other accounts of such Person
created by, or arising from or related to the sales of goods or rendition of
services made by such Person whether under its own name, under any of its trade
names, or through any of its divisions, or in the name of any other Person, (b)
all unpaid seller's rights of such Person (including rescission, replevin,
reclamation and stoppage in transit) relating to the foregoing or arising
therefrom, (c) all rights of such Person to any goods represented by any of the
foregoing, including returned or repossessed goods, (d) all reserves and credit
balances held by such Person with respect to any such accounts receivable or
account debtors and (e) all Guarantees or collateral for any of the foregoing.
"ACCUMULATED FUNDING DEFICIENCY" shall have the meaning ascribed to
that term in Section 302 of ERISA.
"ACT OF BANKRUPTCY" shall have the meaning ascribed to that term in the
definition of "Eligible Accounts Receivable".
"ACQUISITION" shall mean, with respect to any Credit Party, any
transaction or series of related transactions resulting in (a) the acquisition
by such Credit Party of all or substantially all of the assets of any other
Person, or of any business or division of any other Person, (b) the acquisition
by such Credit Party of all of the issued and outstanding Capital Securities of
any other Person, including, without limitation, by means of a merger of such
other Person with and into such Credit Party (or a Wholly-Owned Subsidiary of
such or any Credit Party formed solely for the purpose of consummating such
acquisition) or otherwise causing any Person (other than any Person that is at
such time a Credit Party) to become a Wholly-Owned Subsidiary of such Credit
Party, or (c) a merger, consolidation or any other combination of such Credit
Party with any other Person (other than any Person that is at such time a Credit
Party), PROVIDED that such Credit Party is the surviving Person.
"ACQUISITION TARGET" shall mean a Person whose Capital Securities or
assets, as the case may be, are acquired in an Acquisition permitted under
SECTION 8.9(g).
"ADJUSTED LIBOR RATE" shall mean, for any Interest Period, the rate
obtained by dividing (a) the LIBOR Rate for such Interest Period by (b) a
percentage equal to 1 MINUS the stated maximum rate (stated as a decimal) of all
reserves, if any, required to be maintained against "Eurocurrency liabilities"
as specified in Regulation D (or against any other category of liabilities which
includes deposits by reference to which the interest rate on LIBOR Rate Loans
206935
|
Wellman
As referenced in this Credit Agreement:
wellman, inc – lt;TEXT>
<PAGE>
EXECUTION COPY
EXHIBIT 4(a)(1)
================================================================================
CREDIT AGREEMENT
AMONG
WELLMAN, INC ., AND
THE OTHER BORROWERS NAMED HEREIN
AS BORROWERS,
WITH
WELLMAN, INC.,
AS FUNDS ADMINISTRATOR,
wellman, inc – 1)
================================================================================
CREDIT AGREEMENT
AMONG
WELLMAN, INC., AND
THE OTHER BORROWERS NAMED HEREIN
AS BORROWERS,
WITH
WELLMAN, INC .,
AS FUNDS ADMINISTRATOR,
THE LENDERS SIGNATORY HERETO
FROM TIME TO TIME,
AS LENDERS,
AND
wellman, inc – Credit Agreement is dated as of February 10, 2004 and entered into
by and among Wellman, Inc ., a Delaware corporation ("WELLMAN"), Prince, Inc., a
Delaware corporation ("PRINCE"), Wellman of Mississippi, Inc.,
wellman, inc – by their proper and duly authorized
officers as of the date set forth above.
BORROWERS:
WELLMAN, INC .,
a Delaware corporation, individually, as a
Borrower and as Funds Administrator
/s/ Keith R.
dt 8447
;
BNY
As referenced in this Credit Agreement:
Bank of New York, – is not a Business Day, for the next preceding Business Day) by the
Federal Reserve Bank of New York, or, if such rate is not so published for any
day that is a
dt 42997
;
|
Deutsche Bank
As referenced in this Credit Agreement:
DEUTSCHE BANK SECURITIES INC – ADMINISTRATOR,
THE LENDERS SIGNATORY HERETO
FROM TIME TO TIME,
AS LENDERS,
AND
DEUTSCHE BANK TRUST COMPANY AMERICAS,
AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
DEUTSCHE BANK SECURITIES INC .,
AS LEAD ARRANGER AND BOOKRUNNER
JP MORGAN CHASE BANK,
AS SYNDICATION AGENT
GENERAL ELECTRIC CAPITAL CORPORATION,
LASALLE BUSINESS CREDIT, LLC,
AS CO-
_____________
dt 98791
;
DB Trust
As referenced in this Credit Agreement:
DEUTSCHE BANK TRUST CO – OTHER BORROWERS NAMED HEREIN
AS BORROWERS,
WITH
WELLMAN, INC.,
AS FUNDS ADMINISTRATOR,
THE LENDERS SIGNATORY HERETO
FROM TIME TO TIME,
AS LENDERS,
AND
DEUTSCHE BANK TRUST CO MPANY AMERICAS,
AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT
DEUTSCHE BANK SECURITIES INC.,
AS LEAD ARRANGER AND BOOKRUNNER
JP MORGAN CHASE BANK,
AS SYNDICATION
_____________
Deutsche Bank
Trust Co – with Wellman acting in its capacity as Funds Administrator for the
Borrowers), each of the Lenders from time to time party hereto and Deutsche Bank
Trust Co mpany Americas, acting in its capacity as administrative agent (the
"ADMINISTRATIVE AGENT") and collateral agent ("COLLATERAL AGENT") for the
Lenders hereunder (in its
_____________
Deutsche Bank Trust Co – to the Credit Documents.
"DBTCo LOAN ACCOUNT" shall have the meaning ascribed to that term in
SECTION 2.5(c).
"DBTCo." shall mean Deutsche Bank Trust Co mpany Americas, a New York
banking corporation, acting in its individual capacity, and its successors and
assigns.
"DEFAULT" shall mean an event, condition
_____________
Deutsche Bank Trust Co – by overnight delivery service, with all
charges prepaid, to the following addresses, if to the Agent, or any of the
Lenders, then to Deutsche Bank Trust Co mpany Americas, 222 South Riverside
Plaza, Chicago, Illinois 60606, Attention: Frank Fazio, if to any Issuing Bank,
to the address specified in the
_____________
DEUTSCHE BANK TRUST CO – R. Phillips
By:_________________________________________
Title: Vice President
PTA RESOURCES, LLC,
as a Borrower
/s/ Keith R. Phillips
By:_________________________________________
Title: Vice President
AGENT:
DEUTSCHE BANK TRUST CO MPANY AMERICAS, as
Agent and Collateral Agent
/s/ Frank Fazio
By:_________________________________________
Director
Title:______________________________________
S-2
<PAGE>
LENDERS:
DEUTSCHE BANK
_____________
dt 113909
;
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Full Doc
| 2003 |
Credit Agreement [Amendment and Waiver No. 4]
Credit Agreement [Amendment and Waiver No. 4] (48K)
Doc #213888: Click preview link for longer preview.
AMENDMENT AND WAIVER NO. 4
AMENDMENT AND WAIVER NO. 4, dated as of September 19, 2003 (this "Fourth
Amendment"), in respect of the Credit Agreement, dated as of December 4, 1998,
as amended and restated by the Amendment and Restatement to the Credit
Agreement, dated as of December 5, 2000 and, as further amended by Amendment No.
3 to the Credit Agreement, dated as of December 12, 2001 (as amended,
supplemented or otherwise modified from time to time, the "Credit Agreement")
among THE SCOTTS COMPANY, an Ohio corporation (the "Borrower"), certain
subsidiaries of the Borrower who are also borrowers from time to time under the
Credit Agreement (the "Subsidiary Borrowers"), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the
"Lenders"), JPMORGAN CHASE BANK (formerly The Chase Manhattan Bank), as agent
for the Lenders (in such capacity, the "Administrative Agent"), SALOMON SMITH
BARNEY, INC., as syndication agent (the "Syndication Agent"), CREDIT LYONNAIS
NEW YORK BRANCH and BANK ONE, NA (Main Office Chicago), as successor by merger
to BANK ONE, MICHIGAN, as co-documentation agents (the "Co-Documentation
Agents"), and J.P. MORGAN SECURITIES INC., as successor to CHASE SECURITIES
INC., as lead arranger (the "Lead Arranger") and as the book manager (the "Book
Manager").
W I T N E S S E T H :
WHEREAS, the Borrower wishes to issue new ten-year senior
subordinated notes in an aggregate principal amount equal to $200,000,000 (the
"New Senior Subordinated Notes");
WHEREAS, the Borrower wishes to amend the Credit Agreement as
described herein and requests the waiver under the Credit Agreement described
herein; and
WHEREAS, the Lenders and the Administrative Agent are willing to
amend and waive the Credit Agreement as provided for herein, but only on the
terms and conditions contained herein;
NOW, THEREFORE, in consideration of the premises and of the mutual
agreements herein contained, the parties hereto agree as follows:
1. Defined Terms. Unless otherwise defined herein, capitalized terms used
herein shall have the respective meanings assigned to them in this Fourth
Amendment and the Credit Agreement.
2. Waiver of Section 2.12(g). The Lenders hereby agree to waive the
provisions of Section 2.12(g) of the Credit Agreement requiring that the
Prepayment Date be 10 Business Days after the date of a Prepayment Option
Notice; provided that any such Prepayment Date shall be not less than three
Business Days after the date of a Prepayment Option Notice.
{PAGE}
3. Amendment to Section 7.6(e) (Limitations on Indebtedness). Section
7.6(e) is hereby amended by deleting the amount "$225,000,000" from subparagraph
(ii) thereto and inserting, in lieu thereof, the amount "$270,000,000".
4. Prepayments. The Borrower hereby agrees to make prepayments in
accordance with the provisions of Sections 2.11 of the Credit Agreement of all
Net Cash Proceeds received by it in connection with the issuance of the New
Senior Subordinated Notes.
5. Representations and Warranties. On and as of the date hereof, and after
giving effect to this Fourth Amendment, each of the Borrower and each Subsidiary
Borrower hereby confirms, reaffirms and restates the representations and
warranties set forth in Section 4 of the Credit Agreement mutatis mutandis, and
to the extent that such representations and warranties expressly relate to a
specific earlier date in which case each of the Borrower and each applicable
Subsidiary Borrower hereby confirms, reaffirms and restates such representations
and warranties as of such earlier date.
6. Conditions to Effectiveness. This Fourth Amendment shall become
effective as of the date the Administrative Agent has received counterparts of
this Fourth Amendment, duly executed and delivered by the Borrower, each
Subsidiary Borrower, the Administrative Agent and the Required Lenders.
7. Continuing Effect; No Other Amendments. Except as expressly amended or
waived hereby, all of the terms and provisions of the Credit Agreement are and
shall remain in full force and effect. The amendments provided for herein are
limited to the specific subsections of the Credit Agreement specified herein and
shall not constitute an amendment of, or an indication of any Lender's
willingness to amend or waive, any other provisions of the Credit Agreement or
the same subsections for any other date or time period (whether or not other
provisions or compliance with such subsections for another date or time period
are affected by the circumstances addressed in this Fourth Amendment).
8. Expenses. The Borrower agrees to pay and reimburse the Administrative
Agent for all its reasonable costs and expenses incurred in connection with the
preparation and delivery of this Fourth Amendment, including, without limitation
the reasonable fees and disbursements of counsel to the Administrative Agent.
9. GOVERNING LAW. THIS FOURTH AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
10. Counterparts. This Fourth Amendment may be executed by the parties
hereto in any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.
213888
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Citibank
As referenced in this Credit Agreement [Amendment and Waiver No. 4]:
Citibank, N.A. – s/ James R. Fellows
---------------------------------------
Name: James R. Fellows
Title: Senior Vice President &
Portfolio Manager
LOAN FUNDING I LLC
a wholly owned subsidiary of
Citibank, N.A.
By: TCW Advisors, Inc.
as portfolio manager of
Loan Funding I L.L.C.
By: /s/ G. Steven Kalin
---------------------------------------
Name: G. Steven
_____________
dt 146392
;
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Scotts
As referenced in this Credit Agreement [Amendment and Waiver No. 4]:
scotts co – as amended,
supplemented or otherwise modified from time to time, the "Credit Agreement")
among THE SCOTTS CO MPANY, an Ohio corporation (the "Borrower"), certain
subsidiaries of the Borrower who are also borrowers
scotts co – proper and duly authorized officers
as of the day and year first above written.
THE SCOTTS CO MPANY
By: /s/ Rebecca J. Bruening
------------------------
Name: Rebecca J. Bruening
Title: Vice President and Treasurer
scotts co – EEIG
By:/s/ Rebecca J. Bruening
------------------------
Name: Rebecca J. Bruening
Title: Power of Attorney
THE SCOTTS CO MPANY ITALIA, S.R.L.
By: /s/ Rebecca J. Bruening
------------------------
Name: Rebecca J. Bruening
Title:
scotts co – ITALIA, S.R.L.
By: /s/ Rebecca J. Bruening
------------------------
Name: Rebecca J. Bruening
Title:
THE SCOTTS CO MPANY (UK) LTD.
By: /s/ Rebecca J. Bruening
-------------------------
Name: Rebecca J. Bruening
Title: Power of
scotts co – PAGE}
Signature Page to the Fourth Amendment,
dated as of September 19, 2003, under
The Scotts Co mpany Credit Agreement.
APEX (IDM) CDO I, LTD.
ELC (CAYMAN) LTD. CDO SERIES 1999-1
dt 13824
;
BofA
As referenced in this Credit Agreement [Amendment and Waiver No. 4]:
BANK OF AMERICA, – Advisor
By: /s/ Thomas H.E. Ewald
------------------------
Name: Thomas H.E. Ewald
Title: Authorized Signatory
BANK OF AMERICA, N.A.
By: /s/ Sharon Burks Horos
------------------------
Name: Sharon Burks Horos
Title: Vice President
dt 40874
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Preview
Full Doc
| 2001 |
Credit Agreement [Amendment No. 3]
Credit Agreement [Amendment No. 3] (68K)
Doc #213991: Click preview link for longer preview.
AMENDMENT NO. 3
AMENDMENT NO. 3, dated as of December 12, 2001 (this "THIRD
AMENDMENT"), to the Credit Agreement, dated as of December 4, 1998 (as amended
by the Waiver, dated as of January 19, 1999, the Amendment No. 1 and Consent,
dated as of October 13, 1999, Waiver No. 2, dated as of February 14, 2000,
Amendment No. 2, dated as of June 9, 2000, the Amended and Restated Credit
Agreement, dated as of December 5, 2000, and Waiver No. 3, dated as of October
19, 2001, and as otherwise amended, supplemented or otherwise modified from time
to time, the "CREDIT AGREEMENT"), among THE SCOTTS COMPANY, an Ohio corporation
(the "BORROWER"), certain subsidiaries of the Borrower who are also borrowers
from time to time under the Credit Agreement (the "SUBSIDIARY BORROWERS"), the
several banks and other financial institutions from time to time parties to the
Credit Agreement (the "LENDERS"), JPMORGAN CHASE BANK (formerly The Chase
Manhattan Bank), as agent for the Lenders (in such capacity, the "ADMINISTRATIVE
Agent"), SALOMON SMITH BARNEY, INC., as syndication agent (the "SYNDICATION
AGENT"), CREDIT LYONNAIS NEW YORK BRANCH and BANK ONE, MICHIGAN, as successor to
NBD BANK, as co-documentation agents (the "CO-DOCUMENTATION AGENTS"), and J.P.
MORGAN SECURITIES INC., as successor to CHASE SECURITIES INC., as lead arranger
(the "LEAD ARRANGER") and book manager (the "BOOK MANAGER").
W I T N E S S E T H :
- - - - - - - - - -
WHEREAS, the Borrower wishes to amend the Credit Agreement as
described herein and requests the waiver under the Credit Agreement described
herein; and
WHEREAS, the Lenders and the Administrative Agent are willing
to amend and waive the Credit Agreement as provided for herein, but only on the
terms and conditions contained herein;
NOW, THEREFORE, in consideration of the premises and of the
mutual agreements herein contained, the parties hereto agree as follows:
I. AMENDMENTS AND WAIVER
1. DEFINED TERMS. Unless otherwise defined herein, capitalized
terms used herein shall have the meanings given to them in the Credit Agreement.
2. AMENDMENT TO SECTION 1.1 (DEFINED TERMS). (a) Section 1.1
of the Credit Agreement is hereby amended by deleting therefrom the definition
of "EBITDA" in its entirety and substituting, in lieu thereof, the following:
""EBITDA" shall mean without duplication, for any fiscal
period, the sum of the amounts for such fiscal period of (i) Consolidated Net
Income, (ii) provision for taxes based on income, (iii) depreciation expense,
2
{PAGE}
2
(iv) Consolidated Interest Expense, (v) amortization expense, (vi) other
non-recurring, non-cash items reducing Consolidated Net Income (reduced by any
non-recurring, non-cash items increasing Consolidated Net Income), all as
determined on a consolidated basis for the Borrower and its Subsidiaries in
conformity with GAAP and (vii) in respect of the periods of four consecutive
quarterly periods ending September 30, 2001, December 31, 2001, March 31, 2002
and June 30, 2002, $47,814,000, $47,814,000, $47,814,000 and $41,119,000
respectively, to reflect cash restructuring charges; PROVIDED, HOWEVER, that the
amounts set forth in clause (vii) above shall not be included in EBITDA for
purposes of determining the Leverage Ratio pursuant to the Pricing Grid."
(b) Section 1.1 of the Credit Agreement is hereby further
amended by deleting in the definition of "Subordinated Debt" the phrase "clause
(iii)" and inserting, in lieu thereof, the phrase "clause (ii)".
3. AMENDMENT TO SECTION 2.4 (REVOLVING CREDIT COMMITMENTS).
Sections 2.4(i) and (ii) are hereby amended by deleting them in their entirety
and substituting, in lieu thereof, the following new Sections 2.4(i) and (ii):
"(i) the sum of the Dollar Equivalent of the then outstanding
Revolving Credit Loans in Optional Currencies other than Sterling and the then
outstanding L/C Obligations in Optional Currencies other than Sterling would
exceed the Optional Currency Equivalent of $200,000,000 (such Optional Currency
Equivalent, the "MAXIMUM NON-STERLING OPTIONAL CURRENCY AMOUNT"); or
(ii) the sum of the Dollar Equivalent of the then outstanding
Revolving Credit Loans in Optional Currencies including Sterling and outstanding
L/C Obligations in Optional Currencies including Sterling would exceed the
Optional Currency Equivalent of $360,000,000 (such Optional Currency Equivalent,
the "MAXIMUM OPTIONAL CURRENCY AMOUNT")".
4. AMENDMENT TO SECTION 2.12 (MANDATORY PREPAYMENTS). (a)
Section 2.12(b) is hereby amended by deleting the figure "25%" and inserting, in
lieu thereof, the figure "0%".
(b) Section 2.12(c) of the Credit Agreement is hereby amended
by deleting it in its entirety and substituting, in lieu thereof, the following
new Section 2.12(c):
"Unless the Required Prepayment Lenders shall otherwise agree,
if any Indebtedness shall be incurred by the Borrower or any of its Subsidiaries
(excluding any Indebtedness incurred in accordance with subsection 7.6), the
Borrower shall apply an amount equal to 100% of the Net Cash Proceeds thereof or
the equivalent thereof on the date of such incurrence toward the prepayment of
the Term Loans and the reduction of the Revolving Credit Commitments as set
forth in subsection 2.12(f).
5. AMENDMENT TO SECTION 6.9 (INTEREST COVERAGE). Section 6.9
of the Credit Agreement is hereby amended by deleting the portions of the table
therein corresponding to the dates set forth below and inserting, in lieu
thereof, the following:
213991
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ABN AMRO Bank
As referenced in this Credit Agreement [Amendment No. 3]:
ABN AMRO BANK – as a
Lender
By: /s/ Paul A. Harris
---------------------------------------------
Name: Paul A. Harris
Title: Director
{PAGE}
ABN AMRO BANK N.V.
By: /s/ Thomas Comfort
-----------------------------------------
Name: Thomas Comfort
Title: Senior Vice President
By: /s/
dt 45389
;
Citicorp USA
As referenced in this Credit Agreement [Amendment No. 3]:
CITICORP USA, INC – By: INVESCO Senior Secured Management, Inc. as
Investment Advisor
By: /s/ Thomas H. B. Ewald
---------------------------------------------
Name: Thomas H. B. Ewald
Title: Authorized Signatory
CITICORP USA, INC .
By: /s/ Allen Fisher
---------------------------------------------
Name: Allen Fisher
Title: Vice President
COLUMBUS LOAN FUNDING, LTD.
By: Travelers Asset Management International
Company, LLC
By: /
_____________
dt 165074
;
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Scotts
As referenced in this Credit Agreement [Amendment No. 3]:
scotts co – otherwise amended, supplemented or otherwise modified from time
to time, the "CREDIT AGREEMENT"), among THE SCOTTS CO MPANY, an Ohio corporation
(the "BORROWER"), certain subsidiaries of the Borrower who are also borrowers
scotts co – proper and duly authorized
officers as of the day and year first above written.
THE SCOTTS CO MPANY
By: /s/ Rebecca J. Bruening
--------------------------------------------
Name: Rebecca J. Bruening
Title: Vice President and Treasurer
dt 13924
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