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Agreement and Plan of Reorganization
Agreement and Plan of Reorganization (199K)
Doc #1114106: Click preview link for longer preview.
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Exhibit 99.1
AGREEMENT AND PLAN OF REORGANIZATION
BY AND AMONG
MIDWAY GAMES INC.
GTDD INC.
SURREAL SOFTWARE INC.
AND
THE SHAREHOLDERS SIGNATORIES HERETO
APRIL 5, 2004
Table of Contents
1.
Definitions
5
2.
The Merger
8
2.1
The Merger
8
2.2
Closing; Effective Time
8
2.3
. . .
1114106
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Midway Games
As referenced in this Agreement and Plan of Reorganization:
MIDWAY GAMES INC. –
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-- Click here to rapidly navigate through this document
Exhibit 99.1
AGREEMENT AND PLAN OF REORGANIZATION
BY AND AMONG
MIDWAY GAMES INC.
GTDD INC.
SURREAL SOFTWARE INC.
AND
THE SHAREHOLDERS SIGNATORIES HERETO
APRIL 5, 2004
Table of Contents
1.
Definitions
5
2.
The Merger
8
2.1
The Merger
8
2.
_____________
MIDWAY GAMES INC. – Shares
Schedules Omitted
4
AGREEMENT AND PLAN OF REORGANIZATION
This AGREEMENT AND PLAN OF REORGANIZATION (this "Agreement") is made and entered into as of April 5, 2004
by and among MIDWAY GAMES INC. , a Delaware corporation ("Parent"), GTDD INC., a Washington corporation ("Merger
Sub") and wholly owned subsidiary of Parent, SURREAL SOFTWARE INC., a Washington corporation ("Target"), the Principal
Shareholders of Target
_____________
Midway Games Inc. – has the meaning set forth in Section 8.5.
"Parent" has the meaning set forth in the introductory paragraph.
"Parent Common Stock" means the common stock, $.01 par value, of Midway Games Inc.
"Parent Indemnified Person" and "Parent Indemnified Persons" have the meanings set forth
in Section 8.3.1.
"Parent Indemnitee" has the meaning set forth in Section 6.9.6.
"
_____________
Midway Games Inc. – Closing; Effective Time. The closing of the transactions contemplated hereby (the
"Closing") shall take place concurrently herewith (the "Closing Date"). The Closing shall take place
8
at
the offices of Midway Games Inc. , 2704 West Roscoe Street, Chicago, Illinois 60618, or at such other location as the parties hereto agree. In connection with the Closing, the parties hereto
are causing the Merger
_____________
Midway
Games Inc. – receipt to the parties at the following address (or at such other address for a party as shall be specified upon like notice:
if
to Parent or Merger Sub, to:
Midway
Games Inc.
2704 West Roscoe Street
Chicago, IL 60618
Attention: President
Fax: (773) 961-2099
Tel: (773) 961-2103
with
a copy to:
Midway
Games Inc.
2704 West Roscoe Street
Chicago,
_____________
dt 1510461
;
Midway Games
As referenced in this Agreement and Plan of Reorganization:
MIDWAY GAMES, INC. – of
them or their respective officers thereunto duly authorized, all as of the date first written above.
SURREAL SOFTWARE INC.
By:Alan
R. Patmore
President and Chairman of the Board
MIDWAY GAMES, INC.
By:David
F. Zucker
President and Chief Executive Officer
GTDD INC.
By:David
F. Zucker
President
PRINCIPAL SHAREHOLDERS
STUART DENMAN
MICHAEL R. NICHOLS
ALAN R. PATMORE
NICHOLAS J. RADOVICH
_____________
dt 1510469
;
BPI
As referenced in this Agreement and Plan of Reorganization:
Bedford Property Investors, – deliver to Parent all consents or approvals
required to be obtained in connection with the Merger and the other transactions contemplated by this Agreement including, without limitation, the consent of Bedford Property Investors, Inc. as
Landlord under the Full Service Office Lease between Target and Landlord dated as of October 29, 2002, and the other consents identified on Section 3.4 of
_____________
dt 1401421
;
|
Games
As referenced in this Agreement and Plan of Reorganization:
GAMES INC. –
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Exhibit 99.1
AGREEMENT AND PLAN OF REORGANIZATION
BY AND AMONG
MIDWAY GAMES INC.
GTDD INC.
SURREAL SOFTWARE INC.
AND
THE SHAREHOLDERS SIGNATORIES HERETO
APRIL 5, 2004
Table of Contents
1.
Definitions
5
2.
The Merger
8
2.1
The Merger
8
2.
_____________
GAMES INC. – Schedules Omitted
4
AGREEMENT AND PLAN OF REORGANIZATION
This AGREEMENT AND PLAN OF REORGANIZATION (this "Agreement") is made and entered into as of April 5, 2004
by and among MIDWAY GAMES INC. , a Delaware corporation ("Parent"), GTDD INC., a Washington corporation ("Merger
Sub") and wholly owned subsidiary of Parent, SURREAL SOFTWARE INC., a Washington corporation ("Target"), the Principal
Shareholders of Target
_____________
Games Inc. – the meaning set forth in Section 8.5.
"Parent" has the meaning set forth in the introductory paragraph.
"Parent Common Stock" means the common stock, $.01 par value, of Midway Games Inc.
"Parent Indemnified Person" and "Parent Indemnified Persons" have the meanings set forth
in Section 8.3.1.
"Parent Indemnitee" has the meaning set forth in Section 6.9.6.
"
_____________
Games Inc. – Effective Time. The closing of the transactions contemplated hereby (the
"Closing") shall take place concurrently herewith (the "Closing Date"). The Closing shall take place
8
at
the offices of Midway Games Inc. , 2704 West Roscoe Street, Chicago, Illinois 60618, or at such other location as the parties hereto agree. In connection with the Closing, the parties hereto
are causing the Merger
_____________
Games Inc. – to the parties at the following address (or at such other address for a party as shall be specified upon like notice:
if
to Parent or Merger Sub, to:
Midway
Games Inc.
2704 West Roscoe Street
Chicago, IL 60618
Attention: President
Fax: (773) 961-2099
Tel: (773) 961-2103
with
a copy to:
Midway
Games Inc.
2704 West Roscoe Street
Chicago,
_____________
dt 1314377
;
Games
As referenced in this Agreement and Plan of Reorganization:
GAMES, INC. – them or their respective officers thereunto duly authorized, all as of the date first written above.
SURREAL SOFTWARE INC.
By:Alan
R. Patmore
President and Chairman of the Board
MIDWAY GAMES, INC.
By:David
F. Zucker
President and Chief Executive Officer
GTDD INC.
By:David
F. Zucker
President
PRINCIPAL SHAREHOLDERS
STUART DENMAN
MICHAEL R. NICHOLS
ALAN R. PATMORE
NICHOLAS J. RADOVICH
_____________
dt 1314427
;
 Bullivant Houser
As referenced in this Agreement and Plan of Reorganization:
Bullivant
Houser – the signature page hereto, with a copy to:
David
S. Rosenbaum, Esq.
6303 Owensmouth Avenue, 10th Floor
Woodland Hills, California 91367
Fax: (818) 936-3055
Tel: (818) 936-3455
and
Bullivant
Houser Bailey PC
1601 Fifth Avenue, Suite 2300
Seattle, Washington 98101-1618
Attention: Douglas A. Luetjen
Fax: (206) 386-5130 Tel: (206) 292-8930
9.2 Counterparts. This Agreement may be
_____________
dt 1319821
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Agreement and Waiver
Agreement and Waiver (3K)
Doc #1114239: This document is immediately available for purchase, but does not have a preview available for viewing.
1114239
| | |
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Agreement and Waiver
Agreement and Waiver (5K)
Doc #1114345: This document is immediately available for purchase, but does not have a preview available for viewing.
1114345
| | |
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Full Doc
| 2007 |
Bylaws
Bylaws (36K)
Doc #2869477: Click preview link for longer preview.
COMPOSITE AMENDED AND RESTATED
BY-LAWS
OF
MIDWAY GAMES INC.
dated March 21, 2007
(Formed under the laws of the State of Delaware)
ARTICLE I
STOCKHOLDERS
Section 1. Annual Meeting. A meeting of the stockholders shall be held annually for the election of directors and the transaction of other business on such date in each year as may be determined by the Board of Directors.
Section 2. Special Meetings. Subject to the rights of holders of any class or series of Preferred Stock, special meetings of . . .
2869477
|
Midway Games
As referenced in this Bylaws:
MIDWAY GAMES INC. – exv3w5
EX-3.5 2 c14762exv3w5.htm AMENDED AND RESTATED BY-LAWS
Exhibit 3.5
COMPOSITE AMENDED AND RESTATED
BY-LAWS
OF
MIDWAY GAMES INC.
dated March 21, 2007
(Formed under the laws of the State of Delaware)
ARTICLE I
STOCKHOLDERS
Section 1. Annual Meeting. A meeting of the stockholders shall be held annually
_____________
dt 1774137
;
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Bylaws
Bylaws (36K)
Doc #2969009: Click preview link for longer preview.
COMPOSITE AMENDED AND RESTATED
BY-LAWS
OF
MIDWAY GAMES INC.
Dated June 13, 2007
(Formed under the laws of the State of Delaware)
ARTICLE I
STOCKHOLDERS
Section 1. Annual Meeting. A meeting of the stockholders shall be held annually for the election of directors and the transaction of other business on such date in each year as may be determined by the Board of Directors.
Section 2. Special Meetings. Subject to the rights of holders of any class or series of Preferred Stock, special meetings of . . .
2969009
|
Midway Games
As referenced in this Bylaws:
MIDWAY GAMES INC. – exv3w1
EX-3.1 2 c15891exv3w1.htm COMPOSITE AMENDED AND RESTATED BY-LAWS
Exhibit 3.1
COMPOSITE AMENDED AND RESTATED
BY-LAWS
OF
MIDWAY GAMES INC.
Dated June 13, 2007
(Formed under the laws of the State of Delaware)
ARTICLE I
STOCKHOLDERS
Section 1. Annual Meeting. A meeting of the stockholders shall be held annually
_____________
dt 1774139
;
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Code of Business Conduct and Ethics
Code of Business Conduct and Ethics (25K)
Doc #1114161: This document is immediately available for purchase, but does not have a preview available for viewing.
1114161
| | |
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| 2007 |
Conference Call Transcript
Conference Call Transcript (33K)
Doc #3194525: This document is immediately available for purchase, but does not have a preview available for viewing.
3194525
| | |
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| 2003 |
Confidential License Agreement
Confidential License Agreement (59K)
Doc #1114279: Click preview link for longer preview.
"[*]" denotes confidential information omitted and filed separately with the Securities and Exchange Commission pursuant to a request for
confidential treatment under Rule 406 under the Securities Act of 1933, as amended.
Exhibit 99.6
CONFIDENTIAL LICENSE AGREEMENT
FOR NINTENDO GAMECUBE
(Western Hemisphere)
THIS
LICENSE AGREEMENT ("Agreement') is entered into between NINTENDO OF AMERICA INC. ("NOA") at 4820 150th Avenue N.E., Redmond, WA 98052 Attn: General Counsel (Fax:
425-882-3585) and Midway Home . . .
1114279
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| 2006 |
Confidential License Agreement
Confidential License Agreement (53K)
Doc #1727427: Click preview link for longer preview.
CONFIDENTIAL LICENSE AGREEMENT
FOR GAME BOY ADVANCE
(Western Hemisphere)
THIS LICENSE AGREEMENT (�Agreement�) is entered into between NINTENDO OF AMERICA INC. (�NOA�), at 4820 150th Avenue N.E., Redmond, WA 98052 Attn: General Counsel (Fax: 425-882-3585) and Midway Home Entertainment, Inc., (�LICENSEE�) at 800 North Main Street, Corsicana, TX 75151 Attn: Donna Green (Fax: (903) 872-8000). NOA and LICENSEE agree as follows:
1. RECITALS
1.1 . . .
1727427
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Midway Games
As referenced in this Confidential License Agreement:
Midway Games Inc. – herein, or addressed to such other person or address either party may designate in a Notice. All Notices to LICENSEE shall include a copy to: Vice President and General Counsel, Midway Games Inc. , 3401 North California Avenue, Chicago, Illinois 60618, Facsimile (773) 961-2299. Notice shall be deemed effective upon the earlier of actual receipt or two (2) business days after transmittal.
_____________
dt 1510468
;
|
Games
As referenced in this Confidential License Agreement:
Games Inc. – or addressed to such other person or address either party may designate in a Notice. All Notices to LICENSEE shall include a copy to: Vice President and General Counsel, Midway Games Inc. , 3401 North California Avenue, Chicago, Illinois 60618, Facsimile (773) 961-2299. Notice shall be deemed effective upon the earlier of actual receipt or two (2) business days after transmittal.
_____________
dt 1560070
;
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Continuing Guaranty
Continuing Guaranty (29K)
Doc #1114148: Click preview link for longer preview.
THIS CONTINUING GUARANTY ("Guaranty"), dated as of March 3, 2004, is
executed and delivered by Midway Games Inc., a Delaware corporation, Midway
Games West Inc., a California corporation, Midway Interactive Inc., a Delaware
corporation, Midway Sales Company, LLC, a Delaware limited liability company,
and Midway Home Studios Inc., a Delaware corporation (collectively, the
"Guarantors", and each individually, a "Guarantor") in favor of Wells Fargo
Foothill, Inc., a California corporation ("Agent"), as administrative agent for
the Lenders (as . . .
1114148
|
Midway Games
As referenced in this Continuing Guaranty:
Midway Games Inc. – FILENAME>a2130470zex-10_53.txt
EXHIBIT 10.53
EXHIBIT 10.53
CONTINUING GUARANTY
THIS CONTINUING GUARANTY ("Guaranty"), dated as of March 3, 2004, is
executed and delivered by Midway Games Inc. , a Delaware corporation, Midway
Games West Inc., a California corporation, Midway Interactive Inc., a Delaware
corporation, Midway Sales Company, LLC, a Delaware limited liability company,
and Midway Home Studios
_____________
Midway
Games Inc. – each Guarantor hereunder are
secured as provided in the Loan Agreement, and as further provided in (a) that
certain Pledge Agreement of even date herewith by and between Agent and Midway
Games Inc. , (b) that certain Pledge Agreement of even date herewith by and
between Agent and Midway Interactive Inc., and (c) that certain Pledge Agreement
of even date herewith by and
_____________
MIDWAY GAMES INC. – OF ITS RIGHT TO TRIAL BY JURY.
IN WITNESS WHEREOF, each Guarantor has executed and delivered this
Guaranty as of the date set forth in the first paragraph hereof.
MIDWAY GAMES INC. , a Delaware corporation
By Thomas E. Powell
Title Executive Vice President--Finance,
Treasurer and Chief Financial Officer
MIDWAY GAMES WEST INC., a California corporation
By Thomas E. Powell
Title
_____________
dt 1510462
;
|
Games
As referenced in this Continuing Guaranty:
Games Inc. – a2130470zex-10_53.txt
EXHIBIT 10.53
EXHIBIT 10.53
CONTINUING GUARANTY
THIS CONTINUING GUARANTY ("Guaranty"), dated as of March 3, 2004, is
executed and delivered by Midway Games Inc. , a Delaware corporation, Midway
Games West Inc., a California corporation, Midway Interactive Inc., a Delaware
corporation, Midway Sales Company, LLC, a Delaware limited liability company,
and Midway Home Studios
_____________
Games Inc. – Guarantor hereunder are
secured as provided in the Loan Agreement, and as further provided in (a) that
certain Pledge Agreement of even date herewith by and between Agent and Midway
Games Inc. , (b) that certain Pledge Agreement of even date herewith by and
between Agent and Midway Interactive Inc., and (c) that certain Pledge Agreement
of even date herewith by and
_____________
GAMES INC. – ITS RIGHT TO TRIAL BY JURY.
IN WITNESS WHEREOF, each Guarantor has executed and delivered this
Guaranty as of the date set forth in the first paragraph hereof.
MIDWAY GAMES INC. , a Delaware corporation
By Thomas E. Powell
Title Executive Vice President--Finance,
Treasurer and Chief Financial Officer
MIDWAY GAMES WEST INC., a California corporation
By Thomas E. Powell
Title
_____________
dt 1314378
;
|
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| 2003 |
Credit Agreement [Amended and Restated]
Credit Agreement [Amended and Restated] (260K)
Doc #154435: Click preview link for longer preview.
AMENDED AND RESTATED
CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC.,
BANK OF AMERICA N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
ARRANGED BY BANC OF AMERICA SECURITIES LLC
{Page}
TABLE OF CONTENTS
{Table}
{Caption}
PAGE
----
{S} {C}
ARTICLE I DEFINITIONS..................................................................................1
1.1 Certain Defined Terms..........................................................................1
1.2 Other Interpretive Provisions.................................................................19
1.3 Accounting Principles.........................................................................20
ARTICLE II THE CREDITS.................................................................................21
2.1 Amounts and Terms of Commitments..............................................................21
2.2 Loan Accounts.................................................................................21
2.3 Procedure for Borrowing.......................................................................22
2.4 Conversion and Continuation Elections.........................................................22
2.5 Voluntary Termination or Reduction of Commitments.............................................24
2.6 Optional Prepayments..........................................................................24
2.7 Mandatory Prepayments.........................................................................24
2.8 Repayment.....................................................................................24
2.9 Interest......................................................................................24
2.10 Fees..........................................................................................25
2.11 Computation of Fees and Interest..............................................................26
2.12 Payments by the Company.......................................................................26
2.13 Payments by the Banks to the Agent............................................................27
2.14 Sharing of Payments, Etc......................................................................27
ARTICLE III THE LETTERS OF CREDIT.......................................................................28
3.1 The Letter of Credit Subfacility..............................................................28
3.2 Issuance, Amendment and Renewal of Letters of Credit..........................................29
3.3 Existing Letters of Credit; Risk Participations, Drawings and Reimbursements..................31
3.4 Repayment of Participations...................................................................33
3.5 Role of the Issuing Bank......................................................................33
3.6 Obligations Absolute..........................................................................34
3.7 Cash Collateral Pledge........................................................................35
3.8 Letter of Credit Fees.........................................................................35
3.9 Uniform Customs and Practice..................................................................36
3.10 Guaranty of the Company.......................................................................36
{/Table}
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{Table}
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ARTICLE IV TAXES, YIELD PROTECTION AND ILLEGALITY......................................................36
4.1 Taxes.........................................................................................36
4.2 Illegality....................................................................................37
4.3 Increased Costs and Reduction of Return.......................................................38
4.4 Funding Losses................................................................................38
4.5 Inability to Determine Rates..................................................................39
4.6 Certificates of Banks.........................................................................39
4.7 Survival......................................................................................40
ARTICLE V CONDITIONS PRECEDENT........................................................................40
5.1 Conditions to Effectiveness...................................................................40
5.2 Conditions to All Credit Extensions...........................................................41
5.3 Waiver........................................................................................42
ARTICLE VI REPRESENTATIONS AND WARRANTIES..............................................................42
6.1 Corporate Existence and Power.................................................................42
6.2 Corporate Authorization; No Contravention.....................................................43
6.3 Governmental Authorization....................................................................43
6.4 Binding Effect................................................................................43
6.5 Litigation....................................................................................43
6.6 No Default....................................................................................44
6.7 ERISA Compliance..............................................................................44
6.8 Use of Proceeds; Margin Regulations...........................................................45
6.9 Title to Properties...........................................................................45
6.10 Taxes.........................................................................................45
6.11 Financial Condition...........................................................................45
6.12 Environmental Matters.........................................................................45
6.13 Regulated Entities............................................................................46
6.14 No Burdensome Restrictions....................................................................46
6.15 Subsidiaries..................................................................................46
6.16 Insurance.....................................................................................46
6.17 Swap Obligations..............................................................................46
6.18 Full Disclosure...............................................................................46
{/Table}
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{Table}
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ARTICLE VII AFFIRMATIVE COVENANTS.......................................................................46
7.1 Financial Statements..........................................................................47
7.2 Certificates; Other Information...............................................................47
7.3 Notices.......................................................................................48
7.4 Preservation of Corporate Existence, Etc......................................................49
7.5 Maintenance of Property.......................................................................49
7.6 Insurance.....................................................................................49
7.7 Payment of Obligations........................................................................49
7.8 Compliance with Laws..........................................................................50
7.9 Compliance with ERISA.........................................................................50
7.10 Inspection of Property and Books and Records; Field Exams.....................................50
7.11 Environmental Laws............................................................................50
7.12 Use of Proceeds...............................................................................51
7.13 Subsidiary Guaranties.........................................................................51
7.14 Maintenance of Bank Accounts..................................................................51
7.15 Collateral....................................................................................51
7.16 Ratification..................................................................................52
ARTICLE VIII NEGATIVE COVENANTS..........................................................................52
8.1 Limitation on Liens...........................................................................52
8.2 Disposition of Assets.........................................................................54
8.3 Consolidations and Mergers....................................................................54
8.4 Loans and Investments.........................................................................54
8.5 Limitation on Indebtedness....................................................................55
8.6 Transactions with Affiliates..................................................................56
8.7 Use of Proceeds...............................................................................56
8.8 Contingent Obligations........................................................................56
8.9 Joint Ventures................................................................................56
8.10 Lease Obligations.............................................................................56
8.11 Restricted Payments...........................................................................57
8.12 ERISA.........................................................................................57
8.13 Change in Business............................................................................57
{/Table}
-iii-
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{Table}
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8.14 Accounting Changes............................................................................57
8.15 Subordinated Debt.............................................................................57
ARTICLE IX FINANCIAL COVENANTS.........................................................................57
Minimum Net Worth..........................................................................................58
Capital Expenditures.......................................................................................58
9.1 Borrowing Base................................................................................58
ARTICLE X EVENTS OF DEFAULT...........................................................................58
10.1 Event of Default..............................................................................58
10.2 Remedies......................................................................................60
10.3 Rights Not Exclusive..........................................................................61
10.4 Certain Financial Covenant Defaults...........................................................61
ARTICLE XI THE AGENT...................................................................................61
11.1 Appointment and Authorization; "Agent"........................................................61
11.2 Delegation of Duties..........................................................................62
11.3 Liability of Agent............................................................................62
11.4 Reliance by Agent.............................................................................62
11.5 Notice of Default.............................................................................63
11.6 Credit Decision...............................................................................63
11.7 Indemnification of Agent......................................................................63
11.8 Agent in Individual Capacity..................................................................64
11.9 Successor Agent...............................................................................64
11.10 Withholding Tax...............................................................................65
11.11 Agent's Fee...................................................................................66
ARTICLE XII MISCELLANEOUS...............................................................................66
12.1 Amendments and Waivers........................................................................66
12.2 Notices.......................................................................................67
12.3 No Waiver; Cumulative Remedies................................................................68
12.4 Costs and Expenses............................................................................68
12.5 Company Indemnification.......................................................................68
12.6 Payments Set Aside............................................................................69
12.7 Successors and Assigns........................................................................69
{/Table}
-iv-
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{Table}
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12.8 Assignments, Participations, etc..............................................................69
12.9 Confidentiality...............................................................................71
12.10 Set-off.......................................................................................71
12.11 Automatic Debits of Fees......................................................................72
12.12 Notification of Addresses, Lending Offices, Etc...............................................72
12.13 Counterparts..................................................................................72
12.14 Severability..................................................................................72
12.15 No Third Parties Benefited....................................................................72
12.16 Governing Law and Jurisdiction................................................................72
12.17 Waiver of Jury Trial..........................................................................73
12.18 Entire Agreement..............................................................................73
{/Table}
-v-
{Page}
SCHEDULES
Schedule 1 Commitments
Schedule 3.3 Existing Letters of Credit
Schedule 5.1 Guarantors
Schedule 6.5 Litigation
Schedule 6.7 ERISA
Schedule 6.12 Environmental Matters
Schedule 6.15 Subsidiaries and Minority Interests
Schedule 6.16 Insurance Matters
Schedule 8.1 Permitted Liens
Schedule 8.5 Permitted Indebtedness
Schedule 8.8 Contingent Obligations
Schedule 12.2 Lending Offices; Addresses for Notices
EXHIBITS
Exhibit A Form of Notice of Borrowing
Exhibit B Form of Notice of Conversion/Continuation
Exhibit C Form of Compliance Certificate
Exhibit D Form of Legal Opinion of Company's Counsel
Exhibit E Form of Assignment and Acceptance
Exhibit F Form of Promissory Note
Exhibit G Form of Guaranty
Exhibit H Form of Security Agreement
Exhibit I Form of Borrowing Base Certificate
{Page}
AMENDED AND RESTATED CREDIT AGREEMENT
This AMENDED AND RESTATED CREDIT AGREEMENT is entered into as of March 24,
2003, among MIDWAY GAMES INC., a Delaware corporation (the "COMPANY"), the
several financial institutions from time to time party to this Agreement
(collectively, the "BANKS"; individually, a "BANK"), and Bank of America, N.A.,
as letter of credit issuing bank and as agent for the Banks.
WHEREAS, the Company, the Banks and the Agent are parties to a Credit
Agreement dated as of September 20, 2000 (as heretofore amended or modified, the
"Existing Credit Agreement") pursuant to which the Banks have agreed to extend
credit to the Company.
WHEREAS, the parties have agreed to amend and restate the Existing Credit
Agreement in its entirety;
NOW THEREFORE, the parties hereto agree that as of the Restatement Closing
Date, the Existing Credit Agreement is amended and restated in its entirety to
read as follows:
ARTICLE I
DEFINITIONS
1.1 CERTAIN DEFINED TERMS. The following terms have the following meanings:
"ACCOUNT DEBTOR" means any Person who is obligated to the Company or any
other Credit Party under, with respect to, or on account of an Account
Receivable. Without limitation, the term "Account Debtor" includes an "account
debtor" as defined in the UCC.
"ACCOUNT(S) RECEIVABLE" means, with respect to any Person, any right of
such Person to payment for goods sold or leased or for services rendered,
whether or not evidenced by an instrument or chattel paper and whether or not
yet earned by performance. Without limitation, the term "Account Receivable"
includes any "account" as defined in the UCC.
"ACH SETTLEMENT RISK RESERVE" means any and all reserves which any Bank
from time to time establishes, in its sole discretion, with respect to ACH
Transactions.
"ACH TRANSACTIONS" means any cash management or similar services including
the automatic clearing house transfer of funds by any Bank for the account of
the Company pursuant to agreement or overdrafts.
"ACQUISITION" means any transaction or series of related transactions for
the purpose of or resulting, directly or indirectly, in (a) the acquisition of
all or substantially all of the assets of a Person, or of any business or
division of a Person, (b) the acquisition of in excess of 50% of the capital
stock, partnership interests, membership interests or equity of any Person, or
otherwise causing any Person to become a Subsidiary, or (c) a merger or
consolidation or any other combination with another Person (other than a Person
that is a Subsidiary) provided that the Company or the Subsidiary is the
surviving entity.
154435
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Midway Games
As referenced in this Credit Agreement [Amended and Restated]:
MIDWAY GAMES INC. – EX-10.36
{SEQUENCE}6
{FILENAME}a2106489zex-10_36.txt
{DESCRIPTION}EXHIBIT 10.36
{TEXT}
{Page}
EXHIBIT 10.36
AMENDED AND RESTATED
CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC. ,
BANK OF AMERICA N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
ARRANGED BY BANC OF AMERICA SECURITIES LLC
{Page}
TABLE
_____________
MIDWAY GAMES INC. – Security Agreement
Exhibit I Form of Borrowing Base Certificate
{Page}
AMENDED AND RESTATED CREDIT AGREEMENT
This AMENDED AND RESTATED CREDIT AGREEMENT is entered into as of March 24,
2003, among MIDWAY GAMES INC. , a Delaware corporation (the "COMPANY"), the
several financial institutions from time to time party to this Agreement
(collectively, the "BANKS"; individually, a "BANK"), and Bank of America, N.A.,
_____________
MIDWAY GAMES INC. – hereto have caused this Agreement to be
duly executed and delivered in Chicago, Illinois by their proper and duly
authorized officers as of the day and year first above written.
MIDWAY GAMES INC.
By: /s/ Thomas E. Powell
----------------------------------------
Thomas E. Powell
Title: Executive Vice President - Finance,
Treasurer and Chief Financial Officer
-75-
{Page}
BANK OF AMERICA N.A.,
as Agent
By: /s/
_____________
dt 1510451
;
Games
As referenced in this Credit Agreement [Amended and Restated]:
GAMES INC. – 10.36
{SEQUENCE}6
{FILENAME}a2106489zex-10_36.txt
{DESCRIPTION}EXHIBIT 10.36
{TEXT}
{Page}
EXHIBIT 10.36
AMENDED AND RESTATED
CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC. ,
BANK OF AMERICA N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
ARRANGED BY BANC OF AMERICA SECURITIES LLC
{Page}
TABLE
_____________
GAMES INC. – Agreement
Exhibit I Form of Borrowing Base Certificate
{Page}
AMENDED AND RESTATED CREDIT AGREEMENT
This AMENDED AND RESTATED CREDIT AGREEMENT is entered into as of March 24,
2003, among MIDWAY GAMES INC. , a Delaware corporation (the "COMPANY"), the
several financial institutions from time to time party to this Agreement
(collectively, the "BANKS"; individually, a "BANK"), and Bank of America, N.A.,
_____________
GAMES INC. – have caused this Agreement to be
duly executed and delivered in Chicago, Illinois by their proper and duly
authorized officers as of the day and year first above written.
MIDWAY GAMES INC.
By: /s/ Thomas E. Powell
----------------------------------------
Thomas E. Powell
Title: Executive Vice President - Finance,
Treasurer and Chief Financial Officer
-75-
{Page}
BANK OF AMERICA N.A.,
as Agent
By: /s/
_____________
dt 1314335
;
|
ISDA
As referenced in this Credit Agreement [Amended and Restated]:
International Swap Dealers Association, – the Company or any Subsidiary existing
or arising under any Swap Contract which provides for payment on early
termination based on the 1992 International Swap Dealers Association, Inc.
Master Agreement form providing for "second method and market quotation" shall
satisfy the requirements of this definition.
-16-
{Page}
"PERSON" means
_____________
dt 97926
;
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Credit Agreement
Credit Agreement (126K)
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LC CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC.,
BANK OF AMERICA, N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
{Page}
TABLE OF CONTENTS
{Table}
{Caption}
PAGE
{S} {C}
ARTICLE I DEFINITIONS..................................................................................1
1.1. Certain Defined Terms..........................................................................1
1.2. Other Interpretive Provisions..................................................................5
ARTICLE II COMMITMENT...................................................................................6
2.1. Amount of Commitment...........................................................................6
2.2. Voluntary Termination or Reduction of Commitments..............................................6
ARTICLE III LETTERS OF CREDIT............................................................................7
3.1. Letters of Credit..............................................................................7
3.2. Issuance, Amendment and Renewal of Letters of Credit...........................................7
3.3. Existing Letters of Credit; Risk Participations, Drawings and Reimbursements...................9
3.4. Repayment of Participations...................................................................11
3.5. Role of the Issuing Bank......................................................................12
3.6. Obligations Absolute..........................................................................12
3.7. Cash Collateral Pledge........................................................................13
3.8. Letter of Credit Fees.........................................................................13
3.9. Uniform Customs and Practice..................................................................14
3.10. Guaranty of the Company.......................................................................14
3.11. Payments by the Company.......................................................................14
ARTICLE IV TAXES, YIELD PROTECTION AND ILLEGALITY......................................................14
4.1. Taxes.........................................................................................14
4.2. Increased Costs and Reduction of Return.......................................................15
4.3. Certificates of Banks.........................................................................16
4.4. Survival......................................................................................16
ARTICLE V CONDITIONS PRECEDENT........................................................................16
5.1. Conditions of Initial Credit Extensions.......................................................16
5.2. Conditions to All Credit Extensions...........................................................17
ARTICLE VI REPRESENTATIONS AND WARRANTIES..............................................................18
6.1. Corporate Existence and Power.................................................................18
6.2. Corporate Authorization; No Contravention.....................................................18
6.3. Governmental Authorization....................................................................18
6.4. Binding Effect................................................................................19
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{S} {C}
6.5. No Default....................................................................................19
6.7. Restated Credit Agreement.....................................................................19
ARTICLE VII AFFIRMATIVE COVENANTS.......................................................................19
7.1. Incorporation of Restated Credit Agreement....................................................19
7.2. Ratification Resolutions......................................................................19
ARTICLE VIII NEGATIVE AND FINANCIAL COVENANTS............................................................20
8.1. Incorporation of Restated Credit Agreement....................................................20
8.2. Use of Proceeds...............................................................................20
ARTICLE IX EVENTS OF DEFAULT...........................................................................20
9.1. Event of Default..............................................................................20
9.2. Remedies......................................................................................22
9.3. Rights Not Exclusive..........................................................................22
ARTICLE X THE AGENT...................................................................................23
10.1. Appointment and Authorization; "Agent"........................................................23
10.2. Delegation of Duties..........................................................................23
10.3. Liability of Agent............................................................................23
10.4. Reliance by Agent.............................................................................24
10.5. Notice of Default.............................................................................24
10.6. Credit Decision...............................................................................24
10.7. Indemnification of Agent......................................................................25
10.8. Agent in Individual Capacity..................................................................25
10.9. Successor Agent...............................................................................26
10.10. Withholding Tax...............................................................................26
ARTICLE XI MISCELLANEOUS...............................................................................27
11.1. Amendments and Waivers........................................................................27
11.2. Notices.......................................................................................28
11.3. No Waiver; Cumulative Remedies................................................................29
11.4. Costs and Expenses............................................................................29
11.5. Company Indemnification.......................................................................30
11.6. Payments Set Aside............................................................................30
11.7. Successors and Assigns........................................................................30
11.8. Assignments, Participations, etc..............................................................30
{/Table}
{Page}
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{Table}
{Caption}
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{S} {C}
11.9. Confidentiality...............................................................................32
11.10. Set-off.......................................................................................32
11.11. Automatic Debits of Fees......................................................................32
11.12. Notification of Addresses, Lending Offices, Etc...............................................33
11.13. Counterparts..................................................................................33
11.14. Severability..................................................................................33
11.15. No Third Parties Benefited....................................................................33
11.16. Governing Law and Jurisdiction................................................................33
11.17. Waiver of Jury Trial..........................................................................34
11.18. Entire Agreement..............................................................................34
{/Table}
{Page}
SCHEDULES
Schedule I Prorata Shares of Commitment
Schedule 3.3 Existing Letters of Credit
Schedule 11.2 Notices
EXHIBITS
Exhibit A Form of Assignment and Acceptance
Exhibit B LC Account Agreement
Exhibit C L/C Control Agreement
Exhibit D Form of Opinion
{Page}
LC CREDIT AGREEMENT
This LC CREDIT AGREEMENT (this "Agreement") is entered into as of March 24,
2003, among MIDWAY GAMES INC., a Delaware corporation (the "COMPANY"), the
several financial institutions from time to time party to this Agreement
(collectively, the "BANKS"; individually, a "BANK"), and Bank of America, N.A.,
as letter of credit issuing bank and as agent for the Banks.
WHEREAS, the Banks have agreed to make available to the Company a revolving
letter of credit facility upon the terms and conditions set forth in this
Agreement;
NOW THEREFORE, in consideration of the mutual agreements, provisions and
covenants contained herein, the parties agree as follows:
ARTICLE I
DEFINITIONS
1.1. CERTAIN DEFINED TERMS. Capitalized terms used herein shall have the
meanings set forth in this Section 1.1. Capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Restated Credit
Agreement referred to below:
"AFFILIATE" means, as to any Person, any other Person which, directly or
indirectly, is in control of, is controlled by, or is under common control with,
such Person. A Person shall be deemed to control another Person if the
controlling Person possesses, directly or indirectly, the power to direct or
cause the direction of the management and policies of the other Person, whether
through the ownership of voting securities, membership interests, by contract,
or otherwise.
"AGENT" means Bank of America in its capacity as agent for the Banks
hereunder, and any successor agent arising under Section 10.9.
"AGENT-RELATED PERSONS" means Bank of America and any successor agent
arising under Section 10.9 and any successor letter of credit issuing bank
hereunder, together with their respective Affiliates (including, in the case of
Bank of America, the Arranger), and the officers, directors, employees and
attorneys-in-fact of such Persons and Affiliates.
"AGENT'S PAYMENT OFFICE" means the address for payments set forth on
Schedule 11.2 to this Agreement or such other address in the United States as
the Agent may from time to time specify.
"AGREEMENT" means this LC Credit Agreement.
"APPLICABLE TIME" means local time to the Agent's Payment Office.
"ARRANGER" means Banc of America Securities LLC.
154436
|
Midway Games
As referenced in this Credit Agreement:
MIDWAY GAMES INC. – DOCUMENT}
{TYPE}EX-10.38
{SEQUENCE}8
{FILENAME}a2106489zex-10_38.txt
{DESCRIPTION}EXHIBIT 10.38
{TEXT}
{Page}
EXHIBIT 10.38
LC CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC. ,
BANK OF AMERICA, N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
{Page}
TABLE OF CONTENTS
{Table}
{Caption}
PAGE
{S} {C}
_____________
MIDWAY GAMES INC. – Exhibit C L/C Control Agreement
Exhibit D Form of Opinion
{Page}
LC CREDIT AGREEMENT
This LC CREDIT AGREEMENT (this "Agreement") is entered into as of March 24,
2003, among MIDWAY GAMES INC. , a Delaware corporation (the "COMPANY"), the
several financial institutions from time to time party to this Agreement
(collectively, the "BANKS"; individually, a "BANK"), and Bank of America, N.A.,
_____________
MIDWAY GAMES INC. – hereto have caused this Agreement to be
duly executed and delivered in Chicago, Illinois by their proper and duly
authorized officers as of the day and year first above written.
MIDWAY GAMES INC.
By: /s/ Thomas E. Powell
---------------------------------------
Thomas E. Powell
Executive Vice President - Finance,
Treasurer and Chief Financial Officer
{Page}
BANK OF AMERICA N.A.,
as Agent
By: /s/ David A.
_____________
dt 1510452
;
Games
As referenced in this Credit Agreement:
GAMES INC. – TYPE}EX-10.38
{SEQUENCE}8
{FILENAME}a2106489zex-10_38.txt
{DESCRIPTION}EXHIBIT 10.38
{TEXT}
{Page}
EXHIBIT 10.38
LC CREDIT AGREEMENT
DATED AS OF MARCH 24, 2003
AMONG
MIDWAY GAMES INC. ,
BANK OF AMERICA, N.A.,
AS AGENT,
AND
LETTER OF CREDIT ISSUING BANK
AND
THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO
{Page}
TABLE OF CONTENTS
{Table}
{Caption}
PAGE
|