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Subscribers | 2004 |
364-Day Credit Agreement
364-Day Credit Agreement (22K)
Doc #202248: Click preview link for longer preview.
364-DAY CREDIT AGREEMENT
Dated as of December 9, 2003
PEPSIAMERICAS, INC., a Delaware corporation (the "Borrower"), the banks, financial institutions and other institutional lenders (the "Initial Lenders") and initial issuing banks (the "Initial Issuing Banks") listed on the signature pages hereof, BANK ONE, NA, as syndication agent, BANK OF AMERICA, N.A. and JPMORGAN CHASE BANK, as documentation agents, CITIGROUP GLOBAL MARKETS INC. and BANC ONE CAPITAL MARKETS, INC. as joint lead arrangers, and CITICORP USA, INC. ("Citicorp"), as agent (the "Agent") for the Lenders (as hereinafter defined), agree as follows:
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
"Advance" means a Revolving Credit Advance or a Competitive Bid Advance.
"Affiliate" means, as to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term "control" (including the terms "controlling", "controlled by" and "under common control with") of a Person means the possession, direct or indirect, of the power to vote 10% or more of the Voting Stock of such Person or to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by contract or otherwise.
"Agent's Account" means the account of the Agent maintained by the Agent at Citibank at its office at 388 Greenwich Street, New York, New York 10013, Account No. 36852248, Attention: Bank Loan Syndications.
"Applicable Lending Office" means, with respect to each Lender, such Lender's Domestic Lending Office in the case of a Base Rate Advance and such Lender's Eurodollar Lending Office in the case of a Eurodollar Rate Advance and, in the case of a Competitive Bid Advance, the office of such Lender notified by such Lender to the Agent as its Applicable Lending Office with respect to such Competitive Bid Advance.
"Applicable Margin" means (a) for Base Rate Advances, 0% per annum and (b) for Eurodollar Rate Advances, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below:
202248
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 Banc One Capital
As referenced in this 364-Day Credit Agreement:
BANC ONE CAPITAL MARKETS, – BANK ONE, NA, as syndication agent, BANK OF AMERICA, N.A. and JPMORGAN CHASE BANK, as documentation agents, CITIGROUP GLOBAL MARKETS INC. and BANC ONE CAPITAL MARKETS, INC. as joint lead arrangers, and CITICORP USA, INC. ("Citicorp"), as agent (the "Agent") for the Lenders (as hereinafter defined), agree as
_____________
dt 100685
;
Citibank
As referenced in this 364-Day Credit Agreement:
Citibank, N.A. – relates to any Eurodollar Rate Advances or LIBO Rate Advances, on which dealings are carried on in the London interbank market.
"Citibank" means Citibank, N.A.
"Commitment" means a Revolving Credit Commitment or a Letter of Credit Commitment.
"Competitive Bid Advance" means an advance by a Lender to
_____________
CITIBANK, N.A. – Treasurer
CITICORP USA, INC.,
as Agent
By: /s/ Judith Green
Title: Vice President
Letter of Credit Commitment
Initial Issuing Banks
$50,000,000
CITIBANK, N.A.
By: /s/ Judith Green
Title: Vice President
$50,000,000
WACHOVIA BANK, NATIONAL ASSOCIATION
By: /s/ Page Mesaros
Title: Vice President
$100,
_____________
dt 146316
;
Citicorp USA
As referenced in this 364-Day Credit Agreement:
CITICORP USA, INC – OF AMERICA, N.A.
and
JPMORGAN CHASE BANK
as Documentation Agents
and
and
BANC ONE SECURITIES LLC
as Joint Lead Arranger>
and
CITICORP USA, INC .
as Agent
TABLE OF CONTENTS
ARTICLE I
SECTION 1.01.
Certain Defined Terms
SECTION 1.02.
Computation of Time Periods
SECTION 1.
_____________
CITICORP USA, INC – A. and JPMORGAN CHASE BANK, as documentation agents, CITIGROUP GLOBAL MARKETS INC. and BANC ONE CAPITAL MARKETS, INC. as joint lead arrangers, and CITICORP USA, INC . ("Citicorp"), as agent (the "Agent") for the Lenders (as hereinafter defined), agree as follows:
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.
_____________
CITICORP USA, INC – respective officers thereunto duly authorized, as of the date first above written.
PEPSIAMERICAS, INC.
By: /s/ Andrew Stark
Title: Vice President and Treasurer
CITICORP USA, INC .,
as Agent
By: /s/ Judith Green
Title: Vice President
Letter of Credit Commitment
Initial Issuing Banks
$50,000,000
CITIBANK, N.A.
_____________
CITICORP USA, INC – Title: Vice President
$100,000,000
Total of the Letter of Credit Commitments
Revolving Credit Commitment
Initial Lenders Lead Arranger
$70,000,000
CITICORP USA, INC .
By: /s/ Judith Green
Title: Vice President
$70,000,000
BANK ONE, NA
By: /s/ Thomas Lass
Title: Associate Director
$70,000,
_____________
Citicorp USA, Inc – the 364-Day Credit Agreement dated as of December 9, 2003 among the Borrower, the Lender and certain other lenders parties thereto, and Citicorp USA, Inc . as Agent for the Lender and such other lenders (as amended or modified from time to time, the "Credit Agreement"; the terms
_____________
dt 165042
;
|
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – to such Lender resulting from the Revolving Credit Advances made by such Lender.
"S&P" means Standard & Poor's, a division of The McGraw-Hill Companies, Inc .
"Single Employer Plan" means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
_____________
dt 311203
;
Pepsi Bottling
As referenced in this 364-Day Credit Agreement:
Pepsi Bottling Group, Inc – TD align=left width="90%">(i) Any Person or two or more Persons acting in concert (other than PepsiCo or The Pepsi Bottling Group, Inc .) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934), directly or indirectly, of
_____________
dt 1363226
;
More... |
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Subscribers | 2002 |
364-Day Credit Agreement [Amended and Restated]
364-Day Credit Agreement [Amended and Restated] (447K)
Doc #252773: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-10.2
{SEQUENCE}4
{FILENAME}dex102.txt
{DESCRIPTION}REVOLVING CREDIT FACILITY AGREEMENT
{TEXT}
{PAGE}
EXHIBIT 10.2
EXECUTION COPY
AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT
Dated as of August 19, 2002
among
CHICAGO BRIDGE & IRON COMPANY N.V.,
the SUBSIDIARY BORROWERS,
THE INSTITUTIONS FROM TIME TO TIME PARTIES HERETO AS LENDERS
and
BANK ONE, NA,
(having its principal office in Chicago, Illinois),
as Administrative Agent
and
BANK OF AMERICA, N.A.,
as Syndication Agent
and
HARRIS TRUST AND SAVINGS BANK
as Documentation Agent
================================================================================
BANC ONE CAPITAL MARKETS, INC.,
as Lead Arranger and Sole Book Runner
================================================================================
SIDLEY AUSTIN BROWN & WOOD
Bank One Plaza
10 South Dearborn Street
Chicago, Illinois 60603
{PAGE}
TABLE OF CONTENTS
{TABLE}
{S} {C}
ARTICLE I: DEFINITIONS................................................................................... 1
1.1. Certain Defined Terms......................................................................... 1
1.2. Singular/Plural References; Accounting Terms.................................................. 26
1.3. References.................................................................................... 26
1.4. Supplemental Disclosure....................................................................... 26
ARTICLE II: REVOLVING LOAN FACILITY....................................................................... 26
2.1. Revolving Loans............................................................................... 26
(A) Amount of Revolving Loans............................................................ 27
(B) Borrowing/Election Notice............................................................ 27
(C) Making of Revolving Loans............................................................ 27
2.2. Swing Line Loans.............................................................................. 27
(A) Amount of Swing Line Loans........................................................... 27
(B) Borrowing/Election Notice............................................................ 28
(C) Making of Swing Line Loans........................................................... 28
(D) Repayment of Swing Line Loans........................................................ 28
2.3. Rate Options for all Advances; Maximum Interest Periods....................................... 29
2.4. Optional Payments; Mandatory Prepayments...................................................... 29
(A) Optional Payments.................................................................... 29
(B) Determination of Dollar Amounts of Letters of Credit; Mandatory
Prepayments of Revolving Loans. ..................................................... 30
2.5. Changes in Commitments........................................................................ 30
2.6. Method of Borrowing........................................................................... 31
2.7. Method of Selecting Types and Interest Periods for Advances................................... 31
2.8. Minimum Amount of Each Advance................................................................ 31
2.9. Method of Selecting Types and Interest Periods for Conversion and Continuation of Advances.... 31
(A) Right to Convert..................................................................... 31
(B) Automatic Conversion and Continuation................................................ 32
(C) No Conversion Post-Default or Post-Unmatured Default................................. 32
(D) Borrowing/Election Notice............................................................ 32
2.10. Default Rate.................................................................................. 32
2.11. Method of Payment............................................................................. 32
(A) Method of Payment.................................................................... 32
(B) Market Disruption.................................................................... 33
2.12. Evidence of Debt.............................................................................. 33
(A) Loan Account......................................................................... 34
(B) Register............................................................................. 34
(C) Entries in Loan Account and Register................................................. 34
(D) Noteless Transaction; Notes Issued Upon Request...................................... 34
2.13. Telephonic Notices............................................................................ 34
{/TABLE}
Sidley Austin Brown & Wood
ii
{PAGE}
{TABLE}
{S} {C}
2.14. Promise to Pay; Interest and Commitment Fees; Interest Payment Dates;
Interest and Fee Basis; Taxes; Loan and Control Accounts...................................... 35
(A) Promise to Pay....................................................................... 35
(B) Interest Payment Dates............................................................... 35
(C) Commitment Fees; Additional Fees..................................................... 35
(D) Interest and Fee Basis; Applicable Floating Rate Margins,
Applicable Eurodollar Margin, Applicable L/C Fee Percentage and
Applicable Commitment Fee Percentage................................................. 36
(E) Taxes................................................................................ 37
2.15. Notification of Advances, Interest Rates, Prepayments and Aggregate Commitment Reductions..... 41
2.16. Lending Installations......................................................................... 41
2.17. Non-Receipt of Funds by the Administrative Agent.............................................. 41
2.18. Termination Date.............................................................................. 41
2.19. Replacement of Certain Lenders................................................................ 42
2.20. Subsidiary Borrowers.......................................................................... 42
2.21. Judgment Currency............................................................................. 43
2.22. Extension of Termination Date................................................................. 43
ARTICLE III: THE LETTER OF CREDIT FACILITY................................................................. 44
3.1. Obligation to Issue Letters of Credit......................................................... 44
3.2. Transitional Provision........................................................................ 44
3.3. Types and Amounts............................................................................. 44
3.4. Conditions.................................................................................... 45
3.5. Procedure for Issuance of Letters of Credit................................................... 45
(A) Issuance............................................................................. 45
(B) Notice............................................................................... 46
(C) No Amendment......................................................................... 46
3.6. Letter of Credit Participation................................................................ 46
3.7. Reimbursement Obligation...................................................................... 46
3.8. Letter of Credit Fees......................................................................... 47
3.9. Borrower and Issuing Bank Reporting Requirements.............................................. 47
3.10. Indemnification; Exoneration.................................................................. 48
252773
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Banc One Capital
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
BANC ONE CAPITAL MARKETS, – Chicago, Illinois),
as Administrative Agent
and
BANK OF AMERICA, N.A.,
as Syndication Agent
and
HARRIS TRUST AND SAVINGS BANK
as Documentation Agent
================================================================================
BANC ONE CAPITAL MARKETS, INC.,
as Lead Arranger and Sole Book Runner
================================================================================
SIDLEY AUSTIN BROWN & WOOD
Bank One Plaza
10 South Dearborn Street
Chicago, Illinois 60603
{
_____________
Banc One Capital Markets, – applicable to Standby Letters of Credit, in each case determined
in accordance with the provisions of Section 2.14(D)(ii).
"Arranger" means Banc One Capital Markets, Inc., in its capacity as the
arranger for the loan transaction evidenced by this Agreement.
"Asset Sale" means, with respect to any
_____________
dt 100777
;
|
BofA
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
BANK OF AMERICA, – FROM TIME TO TIME PARTIES HERETO AS LENDERS
and
BANK ONE, NA,
(having its principal office in Chicago, Illinois),
as Administrative Agent
and
BANK OF AMERICA, N.A.,
as Syndication Agent
and
HARRIS TRUST AND SAVINGS BANK
as Documentation Agent
================================================================================
BANC ONE CAPITAL MARKETS, INC.,
as Lead Arranger
_____________
BANK OF AMERICA, – One Plaza
Chicago, Illinois 60670
Sidley Austin Brown & Wood
Signature page to amended and restated 364-DAY credit agreement
Dated August, 2002
{PAGE}
BANK OF AMERICA, N.A., as Syndication
Agent and as a Lender
By:
-----------------------
Name: Kenneth J. Beck
Title: Principal
Notice Address:
Bank of America, N.
_____________
Bank of America, – 2002
{PAGE}
BANK OF AMERICA, N.A., as Syndication
Agent and as a Lender
By:
-----------------------
Name: Kenneth J. Beck
Title: Principal
Notice Address:
Bank of America, N.A.
555 California Street
San Francisco, CA 94104-1503
Attention: Kenneth J. Beck
Telephone: (415) 953-5753
Facsimile: (415) 622-4585
_____________
Bank of America, – 555 California Street
San Francisco, CA 94104-1503
Attention: Kenneth J. Beck
Telephone: (415) 953-5753
Facsimile: (415) 622-4585
Lending Installation Address:
Bank of America, N.A.
CA9-706-11-07
555 South Flower Street
` Los Angeles, CA 90071
Sidley Austin Brown & Wood
Signature page to amended
_____________
BANK OF AMERICA, – its principal office in
Chicago, Illinois), in its individual capacity as a Lender and in its capacity
as contractual representative (the "Administrative Agent"), BANK OF AMERICA,
N.A., as Syndication Agent, and HARRIS TRUST AND SAVINGS BANK, as Documentation
Agent (and as the same have been or may
_____________
dt 95023
;
BNY
As referenced in this 364-Day Credit Agreement [Amended and Restated]:
Bank of New York, – published for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal Reserve
Bank of New York, or, if such rate is not so published for any day which is a
Business Day, the average of the quotations at
_____________
dt 95163
;
More... |
| Preview
Subscribers | 2001 |
364-Day Credit Agreement
364-Day Credit Agreement (433K)
Doc #252823: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-99.3
{SEQUENCE}5
{FILENAME}c65070ex99-3.txt
{DESCRIPTION}364-DAY CREDIT AGREEMENT
{TEXT}
{PAGE} 1
EXHIBIT 99.3
EXECUTION COPY
364-DAY CREDIT AGREEMENT
Dated as of August 29, 2001
among
CHICAGO BRIDGE & IRON COMPANY N.V.,
THE SUBSIDIARY BORROWERS,
THE INSTITUTIONS FROM TIME TO TIME PARTIES HERETO AS LENDERS
and
BANK ONE, NA,
(HAVING ITS PRINCIPAL OFFICE IN CHICAGO, ILLINOIS),
AS ADMINISTRATIVE AGENT
and
BANK OF AMERICA, N.A.,
AS SYNDICATION AGENT
and
HARRIS TRUST AND SAVINGS BANK
AS DOCUMENTATION AGENT
------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.,
AS LEAD ARRANGER AND SOLE BOOK RUNNER
------------------------------------------------------------------------
SIDLEY AUSTIN BROWN & WOOD
Bank One Plaza
10 South Dearborn Street
Chicago, Illinois 60603
{PAGE} 2
TABLE OF CONTENTS
{TABLE}
{S} {C}
ARTICLE I: DEFINITIONS...........................................................................................1
1.1. Certain Defined Terms...........................................................................1
1.2. Singular/Plural References; Accounting Terms...................................................25
1.3. References.....................................................................................25
1.4. Supplemental Disclosure........................................................................26
ARTICLE II: REVOLVING LOAN FACILITY.............................................................................26
2.1. Revolving Loans................................................................................26
(A) Amount of Revolving Loans.............................................................26
(B) Borrowing/Election Notice.............................................................27
(C) Making of Revolving Loans.............................................................27
2.2. Swing Line Loans...............................................................................27
(A) Amount of Swing Line Loans............................................................27
(B) Borrowing/Election Notice.............................................................27
(C) Making of Swing Line Loans............................................................27
(D) Repayment of Swing Line Loans.........................................................28
2.3. Rate Options for all Advances; Maximum Interest Periods........................................29
2.4. Optional Payments; Mandatory Prepayments.......................................................29
(A) Optional Payments.....................................................................29
(B) Determination of Dollar Amounts of Letters of Credit; Mandatory Prepayments of
Revolving Loans.......................................................................29
2.5. Changes in Commitments.........................................................................30
2.6. Method of Borrowing............................................................................30
2.7. Method of Selecting Types and Interest Periods for Advances....................................30
2.8. Minimum Amount of Each Advance.................................................................31
2.9. Method of Selecting Types and Interest Periods for Conversion and Continuation of
Advances.......................................................................................31
(A) Right to Convert......................................................................31
(B) Automatic Conversion and Continuation.................................................31
(C) No Conversion Post-Default or Post-Unmatured Default..................................31
(D) Borrowing/Election Notice.............................................................31
2.10. Default Rate...................................................................................32
2.11. Method of Payment..............................................................................32
(A) Method of Payment.....................................................................32
(B) Market Disruption.....................................................................33
2.12. Evidence of Debt...............................................................................33
(A) Loan Account..........................................................................33
(B) Register..............................................................................33
(C) Entries in Loan Account and Register..................................................33
(D) Noteless Transaction; Notes Issued Upon Request.......................................34
2.13. Telephonic Notices.............................................................................34
{/TABLE}
ii
{PAGE} 3
{TABLE}
{S} {C}
2.14. Promise to Pay; Interest and Commitment Fees; Interest Payment Dates; Interest and Fee
Basis; Taxes; Loan and Control Accounts........................................................34
(A) Promise to Pay........................................................................34
(B) Interest Payment Dates................................................................34
(C) Commitment Fees; Additional Fees......................................................35
(D) Interest and Fee Basis; Applicable Floating Rate Margins, Applicable
Eurodollar Margin, Applicable L/C Fee Percentage and Applicable Commitment Fee
Percentage............................................................................35
(E) Taxes.................................................................................37
2.15. Notification of Advances, Interest Rates, Prepayments and Aggregate Commitment
Reductions.....................................................................................40
2.16. Lending Installations..........................................................................40
2.17. Non-Receipt of Funds by the Administrative Agent...............................................40
2.18. Termination Date...............................................................................41
2.19. Replacement of Certain Lenders.................................................................41
2.20. Subsidiary Borrowers...........................................................................42
2.21. Judgment Currency..............................................................................42
2.22. Extension of Termination Date..................................................................43
ARTICLE III: THE LETTER OF CREDIT FACILITY......................................................................43
3.1. Obligation to Issue Letters of Credit..........................................................43
252823
|
Banc One Capital
As referenced in this 364-Day Credit Agreement:
BANC ONE CAPITAL MARKETS, – CHICAGO, ILLINOIS),
AS ADMINISTRATIVE AGENT
and
BANK OF AMERICA, N.A.,
AS SYNDICATION AGENT
and
HARRIS TRUST AND SAVINGS BANK
AS DOCUMENTATION AGENT
------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.,
AS LEAD ARRANGER AND SOLE BOOK RUNNER
------------------------------------------------------------------------
SIDLEY AUSTIN BROWN & WOOD
Bank One Plaza
10 South Dearborn Street
Chicago, Illinois 60603
{
_____________
Banc One Capital Markets, – Letters of
Credit, in each case determined in accordance with the provisions of Section
2.14(D)(ii).
2
{PAGE} 12
"Arranger" means Banc One Capital Markets, Inc., in its capacity as the
arranger for the loan transaction evidenced by this Agreement.
"Asset Sale" means, with respect to any
_____________
dt 100780
;
|
BofA
As referenced in this 364-Day Credit Agreement:
BANK OF AMERICA, – FROM TIME TO TIME PARTIES HERETO AS LENDERS
and
BANK ONE, NA,
(HAVING ITS PRINCIPAL OFFICE IN CHICAGO, ILLINOIS),
AS ADMINISTRATIVE AGENT
and
BANK OF AMERICA, N.A.,
AS SYNDICATION AGENT
and
HARRIS TRUST AND SAVINGS BANK
AS DOCUMENTATION AGENT
------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.,
AS LEAD ARRANGER
_____________
BANK OF AMERICA, – Attention: Nathan Bloch
Telephone: (312) 732-2243
Facsimile: (312)732-1117
Lending Installation Address:
One Bank One Plaza
Chicago, Illinois 60670
{PAGE} 119
BANK OF AMERICA, N.A., as Syndication
Agent and as a Lender
By: /s/ Kenneth J. Beck
--------------------------------
Name: Kenneth J. Beck
Title: Principal
Notice Address:
_____________
Bank of America, – AMERICA, N.A., as Syndication
Agent and as a Lender
By: /s/ Kenneth J. Beck
--------------------------------
Name: Kenneth J. Beck
Title: Principal
Notice Address:
Bank of America, N.A.
555 California Street
San Francisco, CA 94104-1503
Attention: Kenneth J. Beck
Telephone: (415) 953-5753
Facsimile: (415) 622-4585
_____________
Bank of America, – 555 California Street
San Francisco, CA 94104-1503
Attention: Kenneth J. Beck
Telephone: (415) 953-5753
Facsimile: (415) 622-4585
Lending Installation Address:
Bank of America, N.A.
CA9-706-11-07
555 South Flower Street
Los Angeles, CA 90071
{PAGE} 120
HARRIS TRUST AND SAVINGS BANK, as
_____________
dt 95026
;
BNY
As referenced in this 364-Day Credit Agreement:
Bank of New York, – published for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal Reserve
Bank of New York, or, if such rate is not so published for any day which is a
Business Day, the average of the quotations at
_____________
dt 95168
;
More... |
| Preview
Subscribers | 2004 |
364-Day Credit Agreement
364-Day Credit Agreement (230K)
Doc #293303: Click preview link for longer preview.
$337,500,000
364-DAY CREDIT AGREEMENT
AMONG
AON CORPORATION,
AS BORROWER,
THE LENDERS,
BANK ONE, NA,
AS LC ISSUER AND AGENT,
AND
CITIBANK, N.A.,
AND
ABN AMRO BANK N.V.
AS SYNDICATION AGENTS
DATED AS OF
FEBRUARY 5, 2004
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.
SOLE LEAD ARRANGER AND SOLE BOOK MANAGER
{Page}
TABLE OF CONTENTS
{Table}
{S} {C}
ARTICLE I DEFINITIONS......................................................................................1
ARTICLE II THE CREDITS....................................................................................13
2.1. Commitment.........................................................................................13
2.2. Required Payments; Termination.....................................................................13
2.3. Ratable Loans......................................................................................13
2.4. Types of Advances..................................................................................13
2.5. Facility Fee; Utilization Fee; Term Out Fee; Reductions and Increases in Aggregate Commitment......13
2.6. Minimum Amount of Each Advance.....................................................................15
2.7. Optional Principal Payments........................................................................15
2.8. Method of Selecting Types and Interest Periods for New Advances....................................15
2.9. Conversion and Continuation of Outstanding Advances................................................16
2.10. Changes in Interest Rate, etc......................................................................16
2.11. Rates Applicable After Default.....................................................................17
2.12. Method of Payment..................................................................................17
2.13. Noteless Agreement; Evidence of Indebtedness.......................................................17
2.14. Telephonic Notices.................................................................................18
2.15. Interest Payment Dates; Interest and Fee Basis.....................................................18
2.16. Notification of Advances, Interest Rates, Prepayments and Commitment Reductions....................19
2.17. Lending Installations..............................................................................19
2.18. Non-Receipt of Funds by the Agent..................................................................19
2.19. Facility LCs.......................................................................................20
2.20. Extension of Revolving Credit Termination Date and Facility Termination Date.......................24
2.21. Replacement of Lender..............................................................................25
ARTICLE III YIELD PROTECTION; TAXES.......................................................................25
3.1. Yield Protection...................................................................................25
3.2. Changes in Capital Adequacy Regulations............................................................26
3.3. Availability of Types of Advances..................................................................27
3.4. Funding Indemnification............................................................................27
3.5. Taxes..............................................................................................27
3.6. Lender Statements; Survival of Indemnity...........................................................29
ARTICLE IV CONDITIONS PRECEDENT...........................................................................29
4.1. Effectiveness......................................................................................29
4.2. Each Credit Extension..............................................................................31
ARTICLE V REPRESENTATIONS AND WARRANTIES..................................................................31
5.1. Corporate Existence and Standing...................................................................31
5.2. Authorization and Validity.........................................................................31
5.3. Compliance with Laws and Contracts.................................................................32
5.4. Governmental Consents..............................................................................32
5.5. Financial Statements...............................................................................32
{/Table}
-i-
{Page}
{Table}
{S} {C}
5.6. Material Adverse Change............................................................................33
5.7. Taxes..............................................................................................33
5.8. Litigation and Contingent Obligations..............................................................33
5.9. ERISA..............................................................................................33
5.10. Defaults...........................................................................................34
5.11. Regulation U.......................................................................................34
5.12. Investment Company; Public Utility Holding Company.................................................34
5.13. Ownership of Properties............................................................................34
5.14. Material Agreements................................................................................34
5.15. Environmental Laws.................................................................................35
5.16. Insurance..........................................................................................35
5.17. Insurance Licenses.................................................................................35
5.18. Disclosure.........................................................................................35
5.19. Reportable Transaction.............................................................................35
ARTICLE VI COVENANTS......................................................................................36
6.1. Financial Reporting................................................................................36
6.2. Use of Proceeds....................................................................................37
6.3. Notice of Default..................................................................................37
6.4. Conduct of Business................................................................................37
6.5. Taxes..............................................................................................38
6.6. Insurance..........................................................................................38
6.7. Compliance with Laws...............................................................................38
6.8. Maintenance of Properties..........................................................................38
6.9. Inspection.........................................................................................38
6.10. Capital Stock and Dividends........................................................................38
6.11. Merger.............................................................................................38
6.12. Liens..............................................................................................39
6.13. Affiliates.........................................................................................40
6.14. Change in Fiscal Year..............................................................................40
6.15. Inconsistent Agreements............................................................................40
6.16. Sale of Assets.....................................................................................40
6.17. Financial Covenants................................................................................40
6.18. ERISA..............................................................................................41
ARTICLE VII DEFAULTS......................................................................................41
ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES...............................................43
8.1. Acceleration; Facility LC Collateral Account.......................................................43
8.2. Amendments.........................................................................................44
8.3. Preservation of Rights.............................................................................45
ARTICLE IX GENERAL PROVISIONS.............................................................................45
9.1. Survival of Representations........................................................................45
9.2. Governmental Regulation............................................................................45
9.3. Headings...........................................................................................45
9.4. Entire Agreement...................................................................................45
9.5. Several Obligations; Benefits of this Agreement....................................................45
{/Table}
-ii-
{Page}
{Table}
{S} {C}
9.6. Expenses; Indemnification..........................................................................46
9.7. Numbers of Documents...............................................................................46
9.8. Accounting.........................................................................................46
9.9. Severability of Provisions.........................................................................46
9.10. Nonliability of Lenders............................................................................47
9.11. Confidentiality....................................................................................47
9.12. Disclosure.........................................................................................47
9.13. USA PATRIOT ACT NOTIFICATION.......................................................................47
ARTICLE X THE AGENT.......................................................................................48
10.1. Appointment........................................................................................48
10.2. Powers.............................................................................................48
10.3. General Immunity...................................................................................48
10.4. No Responsibility for Loans, Recitals, etc.........................................................48
10.5. Action on Instructions of Lenders..................................................................49
10.6. Employment of Agents and Counsel...................................................................49
10.7. Reliance on Documents; Counsel.....................................................................49
10.8. Agent's Reimbursement and Indemnification..........................................................49
10.9. Notice of Default..................................................................................50
10.10. Rights as a Lender.................................................................................50
10.11. Lender Credit Decision.............................................................................50
10.12. Successor Agent....................................................................................50
10.13. Agent and Arranger Fees............................................................................51
10.14. Delegation to Affiliates...........................................................................51
10.15. Syndication Agents; Senior Managing Agents; Managing Agents........................................51
ARTICLE XI SETOFF; RATABLE PAYMENTS.......................................................................52
11.1. Setoff.............................................................................................52
11.2. Ratable Payments...................................................................................52
ARTICLE XII BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS.............................................52
12.1. Successors and Assigns.............................................................................52
12.2. Participations.....................................................................................53
12.3. Assignments........................................................................................54
12.4. Dissemination of Information.......................................................................55
12.5. Tax Treatment......................................................................................56
ARTICLE XIII NOTICES......................................................................................56
13.1. Giving Notice......................................................................................56
13.2. Change of Address..................................................................................56
ARTICLE XIV COUNTERPARTS..................................................................................56
ARTICLE XV CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL...................................56
15.1. CHOICE OF LAW......................................................................................56
15.2. CONSENT TO JURISDICTION............................................................................57
15.3. WAIVER OF JURY TRIAL...............................................................................57
{/Table}
-iii-
{Page}
EXHIBITS
{Table}
{S} {C}
Exhibit A Note
Exhibit B Form of Facility LC Application
Exhibit C Compliance Certificate
Exhibit D Assignment and Assumption Agreement
Exhibit E Commitment Addition Agreement
{/Table}
SCHEDULES
{Table}
{S} {C}
Pricing Schedule
Schedule 1 Commitments
{/Table}
-iv-
{Page}
364-DAY CREDIT AGREEMENT
This 364-Day Credit Agreement, dated as of February 5, 2004, is among Aon
Corporation, a Delaware corporation, the Lenders and Bank One, NA, a national
banking association having its principal office in Chicago, Illinois, as LC
Issuer and as Agent.
R E C I T A L S:
A. The Borrower has requested the Lenders to make financial
accommodations to it in the aggregate principal amount of $337,500,000; and
B. The Lenders are willing to extend such financial accommodations on
the terms and conditions set forth below.
NOW, THEREFORE, in consideration of the premises and of the mutual
agreements made herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
ARTICLE I
DEFINITIONS
As used in this Agreement:
"Advance" means a borrowing of Loans, (a) advanced by the Lenders on the
same Borrowing Date, or (b) converted or continued by the Lenders on the same
date of conversion or continuation, consisting, in either case, of the aggregate
amount of the several Loans of the same Type and, in the case of Eurodollar
Loans, for the same Interest Period.
"Affiliate" of any Person means any other Person directly or indirectly
controlling, controlled by or under common control with such Person. A Person
shall be deemed to control another Person if the controlling Person owns 10% or
more of any class of voting securities (or other ownership interests) of the
controlled Person or possesses, directly or indirectly, the power to direct or
cause the direction of the management or policies of the controlled Person,
whether through ownership of stock, by contract or otherwise.
"Agent" means Bank One in its capacity as contractual representative of the
Lenders pursuant to ARTICLE X, and not in its individual capacity as a Lender,
and any successor Agent appointed pursuant to ARTICLE X.
"Aggregate Commitment" means the aggregate of the Commitments of all the
Lenders, as reduced or increased from time to time pursuant to the terms hereof.
The initial Aggregate Commitment is $337,500,000.
{Page}
"Aggregate Outstanding Credit Exposure" means, at any time, the aggregate
of the Outstanding Credit Exposure of all the Lenders.
"Agreement" means this 364-Day Credit Agreement, as it may be amended or
modified and in effect from time to time.
"Agreement Accounting Principles" means generally accepted accounting
principles as in effect from time to time, applied in a manner consistent with
those used in preparing the financial statements referred to in SECTION 5.5.
"Alternate Base Rate" means, for any day, a rate of interest per annum
equal to the higher of (a) the Prime Rate for such day, and (b) the sum of the
Federal Funds Effective Rate for such day plus 1/2% per annum.
"Alternate Base Rate Advance" means an Advance which, except as otherwise
provided in SECTION 2.11, bears interest at the Alternate Base Rate.
"Alternate Base Rate Loan" means a Loan which, except as otherwise provided
in SECTION 2.11, bears interest at the Alternate Base Rate.
"Applicable Facility Fee Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Facility Fee Rate shall change as and when the Borrower Debt Rating changes.
"Applicable Margin" means, with respect to Advances of any Type at any
time, the percentage rate per annum which is applicable at such time with
respect to Advances of such Type as set forth in the Pricing Schedule.
"Applicable Term Out Premium Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Term Out Premium Rate shall change as and when the Borrower Debt Rating changes.
"Applicable Utilization Fee Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Utilization Fee Rate shall change as and when the Borrower Debt Rating changes.
"Approved Fund" means any Fund that is administered or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an
entity that administers or manages a Lender.
"Arranger" means Banc One Capital Markets, Inc., a Delaware corporation,
and its successors, in its capacity as "Sole Lead Arranger" and "Sole Book
Manager".
"Article" means an article of this Agreement unless another document is
specifically referenced.
-2-
{Page}
"Authorized Officer" means any of the president, chief financial officer,
treasurer or vice-president and controller of the Borrower, acting singly.
"Bank One" means Bank One, NA, a national banking association having its
principal office in Chicago, Illinois, in its individual capacity, and its
successors.
"Borrower" means Aon Corporation, a Delaware corporation, and its
successors and assigns.
"Borrower Debt Rating" means the senior unsecured long term debt (without
third party credit enhancement) rating of the Borrower as determined by a rating
agency identified on the Pricing Schedule.
"Borrowing Date" means a date on which an Advance is made hereunder.
"Borrowing Notice" is defined in SECTION 2.8.
"Business Day" means (a) with respect to any borrowing, payment or rate
selection of Eurodollar Advances, a day (other than a Saturday or Sunday) on
which banks generally are open in Chicago and New York for the conduct of
substantially all of their commercial lending activities, interbank wire
transfers can be made on the Fedwire system and dealings in United States
dollars are carried on in the London interbank market and (b) for all other
purposes, a day (other than a Saturday or Sunday) on which banks generally are
open in Chicago and New York for the conduct of substantially all of their
commercial lending activities and interbank wire transfers can be made on the
Fedwire system.
"Capitalized Lease" of a Person means any lease of Property by such Person
as lessee which would be capitalized on a balance sheet of such Person prepared
in accordance with Agreement Accounting Principles.
"Capitalized Lease Obligations" of a Person means the amount of the
obligations of such Person under Capitalized Leases which would be shown as a
liability on a balance sheet of such Person prepared in accordance with
Agreement Accounting Principles.
"Change" is defined in SECTION 3.2.
"Change in Control" means (a) the acquisition by any Person, or two or more
Persons acting in concert, including without limitation any acquisition effected
by means of any transaction contemplated by SECTION 6.11, of beneficial
293303
|
Banc One Capital
As referenced in this 364-Day Credit Agreement:
BANC ONE CAPITAL MARKETS, INC – LC ISSUER AND AGENT,
AND
CITIBANK, N.A.,
AND
ABN AMRO BANK N.V.
AS SYNDICATION AGENTS
DATED AS OF
FEBRUARY 5, 2004
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC .
SOLE LEAD ARRANGER AND SOLE BOOK MANAGER
{Page}
TABLE OF CONTENTS
{Table}
{S} {C}
ARTICLE I DEFINITIONS......................................................................................1
ARTICLE II THE CREDITS....................................................................................
_____________
Banc One Capital Markets, Inc – an Affiliate of a Lender or (c) an entity or an Affiliate of an
entity that administers or manages a Lender.
"Arranger" means Banc One Capital Markets, Inc ., a Delaware corporation,
and its successors, in its capacity as "Sole Lead Arranger" and "Sole Book
Manager".
"Article" means an article of
_____________
dt 252655
;
ABN AMRO Bank
As referenced in this 364-Day Credit Agreement:
ABN AMRO BANK N.V.
– DAY CREDIT AGREEMENT
AMONG
AON CORPORATION,
AS BORROWER,
THE LENDERS,
BANK ONE, NA,
AS LC ISSUER AND AGENT,
AND
CITIBANK, N.A.,
AND
ABN AMRO BANK N.V.
AS SYNDICATION AGENTS
DATED AS OF
FEBRUARY 5, 2004
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.
SOLE LEAD ARRANGER AND SOLE BOOK MANAGER
{Page}
_____________
ABN AMRO BANK N.V.
– Plaza
Suite IL1-0085
Chicago, Illinois 60670
Attn: Cindy Priest
Telecopy: (312) 732-4033
Telephone: (312) 732-9565
Email: cynthia_priest@bankone.com
{Page}
ABN AMRO BANK N.V.
By: /s/ Neil R. Stein
-------------------------------------------
Print Name: Neil R. Stein
-----------------------------------
Title: Group Vice President
----------------------------------------
By: /s/ Michael DeMarco
-------------------------------------------
Print Name: Michael DeMarco
-----------------------------------
_____________
ABN AMRO Bank N.V. – Level V status shall be
applicable.
-2-
{Page}
SCHEDULE 1
COMMITMENTS
{Table}
{Caption}
LENDER COMMITMENT
------ ----------
{S} {C}
Bank One, NA $ 38,000,000
ABN AMRO Bank N.V. $ 35,000,000
Citibank, N.A. $ 35,000,000
The Northern Trust Company $ 30,000,000
JPMorgan Chase Bank $ 25,000,000
_____________
dt 237707
;
|
Citibank
As referenced in this 364-Day Credit Agreement:
CITIBANK, N.A. – 337,500,000
364-DAY CREDIT AGREEMENT
AMONG
AON CORPORATION,
AS BORROWER,
THE LENDERS,
BANK ONE, NA,
AS LC ISSUER AND AGENT,
AND
CITIBANK, N.A. ,
AND
ABN AMRO BANK N.V.
AS SYNDICATION AGENTS
DATED AS OF
FEBRUARY 5, 2004
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.
SOLE LEAD
_____________
CITIBANK, N.A. – Title: Assistant Vice President
----------------------------------------
Address: 208 South LaSalle Street
Suite 1500
Chicago, Illinois 60604-1003
Attn: Credit Administration
Telecopy: (312) 992-5111
{Page}
CITIBANK, N.A.
By: /s/ Peter C. Bickford
-------------------------------------------
Print Name: Peter C. Bickford
-----------------------------------
Title: Vice President
----------------------------------------
Address: 288 Greenwich Street
New York, New York 10013
_____________
Citibank, N.A. – SCHEDULE 1
COMMITMENTS
{Table}
{Caption}
LENDER COMMITMENT
------ ----------
{S} {C}
Bank One, NA $ 38,000,000
ABN AMRO Bank N.V. $ 35,000,000
Citibank, N.A. $ 35,000,000
The Northern Trust Company $ 30,000,000
JPMorgan Chase Bank $ 25,000,000
The Bank of New York $ 25,
_____________
dt 248930
;
McGraw-Hill Companies
As referenced in this 364-Day Credit Agreement:
McGraw-Hill Companies, Inc – Risk-Based Capital Guidelines" is defined in SECTION 3.2.
"S&P" means Standard and Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc ., or any successor thereto.
"Schedule" refers to a specific schedule to this Agreement, unless another
document is specifically referenced.
"Section" means a
_____________
dt 311849
;
More... |
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Subscribers | 2003 |
364-Day Credit Agreement
364-Day Credit Agreement (212K)
Doc #293345: Click preview link for longer preview.
$337,500,000
364-DAY CREDIT AGREEMENT
AMONG
AON CORPORATION,
AS BORROWER,
THE LENDERS,
BANK ONE, NA,
AS AGENT,
AND
ABN AMRO BANK N.V.
AND
CITIBANK, N.A.,
AS SYNDICATION AGENTS
DATED AS OF
FEBRUARY 7, 2003
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.
SOLE LEAD ARRANGER AND SOLE BOOK MANAGER
{Page}
TABLE OF CONTENTS
{Table}
{S} {C}
ARTICLE I DEFINITIONS........................................................................1
ARTICLE II THE CREDITS......................................................................12
2.1. Commitment..........................................................................12
2.2. Required Payments; Termination......................................................12
2.3. Ratable Loans.......................................................................12
2.4. Types of Advances...................................................................12
2.5. Facility Fee; Utilization Fee; Term Out Fee; Reductions and Increases in Aggregate
Commitment...... ...................................................................12
2.6. Minimum Amount of Each Advance......................................................14
2.7. Optional Principal Payments.........................................................14
2.8. Method of Selecting Types and Interest Periods for New Advances.....................14
2.9. Conversion and Continuation of Outstanding Advances.................................15
2.10. Changes in Interest Rate, etc.......................................................15
2.11. Rates Applicable After Default......................................................16
2.12. Method of Payment...................................................................16
2.13. Noteless Agreement; Evidence of Indebtedness........................................16
2.14. Telephonic Notices..................................................................17
2.15. Interest Payment Dates; Interest and Fee Basis......................................17
2.16. Notification of Advances, Interest Rates, Prepayments and Commitment Reductions.....18
2.17. Lending Installations...............................................................18
2.18. Non-Receipt of Funds by the Agent...................................................18
2.19. Extension of Revolving Credit Termination Date and Facility Termination Date........18
2.20. Replacement of Lender...............................................................19
ARTICLE III YIELD PROTECTION; TAXES.........................................................19
3.1. Yield Protection....................................................................19
3.2. Changes in Capital Adequacy Regulations.............................................20
3.3. Availability of Types of Advances...................................................21
3.4. Funding Indemnification.............................................................21
3.5. Taxes...............................................................................21
3.6. Lender Statements; Survival of Indemnity............................................23
ARTICLE IV CONDITIONS PRECEDENT.............................................................24
4.1. Effectiveness.......................................................................24
4.2. Each Advance........................................................................25
ARTICLE V REPRESENTATIONS AND WARRANTIES....................................................25
5.1. Corporate Existence and Standing....................................................25
5.2. Authorization and Validity..........................................................25
5.3. Compliance with Laws and Contracts..................................................26
5.4. Governmental Consents...............................................................26
5.5. Financial Statements................................................................26
5.6. Material Adverse Change.............................................................27
5.7. Taxes...............................................................................27
{/Table}
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{Page}
{Table}
{S} {C}
5.8. Litigation and Contingent Obligations...............................................27
5.9. ERISA...............................................................................27
5.10. Defaults............................................................................28
5.11. Regulation U........................................................................28
5.12. Investment Company; Public Utility Holding Company..................................28
5.13. Ownership of Properties.............................................................28
5.14. Material Agreements.................................................................28
5.15. Environmental Laws..................................................................29
5.16. Insurance...........................................................................29
5.17. Insurance Licenses..................................................................29
5.18. Disclosure..........................................................................29
ARTICLE VI COVENANTS........................................................................30
6.1. Financial Reporting.................................................................30
6.2. Use of Proceeds.....................................................................31
6.3. Notice of Default...................................................................31
6.4. Conduct of Business.................................................................31
6.5. Taxes...............................................................................31
6.6. Insurance...........................................................................32
6.7. Compliance with Laws................................................................32
6.8. Maintenance of Properties...........................................................32
6.9. Inspection..........................................................................32
6.10. Capital Stock and Dividends.........................................................32
6.11. Merger..............................................................................32
6.12. Liens...............................................................................33
6.13. Affiliates..........................................................................34
6.14. Change in Fiscal Year...............................................................34
6.15. Inconsistent Agreements.............................................................34
6.16. Sale of Assets......................................................................34
6.17. Financial Covenants.................................................................34
6.18. ERISA...............................................................................34
ARTICLE VII DEFAULTS........................................................................35
ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES.................................36
8.1. Acceleration........................................................................36
8.2. Amendments..........................................................................37
8.3. Preservation of Rights..............................................................38
ARTICLE IX GENERAL PROVISIONS...............................................................38
9.1. Survival of Representations.........................................................38
9.2. Governmental Regulation.............................................................38
9.3. Headings............................................................................38
9.4. Entire Agreement....................................................................38
9.5. Several Obligations; Benefits of this Agreement.....................................38
9.6. Expenses; Indemnification...........................................................39
9.7. Numbers of Documents................................................................39
9.8. Accounting..........................................................................39
{/Table}
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{Page}
{Table}
{S} {C}
9.9. Severability of Provisions..........................................................39
9.10. Nonliability of Lenders.............................................................40
9.11. Confidentiality.....................................................................40
9.12. Disclosure..........................................................................40
ARTICLE X THE AGENT.........................................................................41
10.1. Appointment.........................................................................41
10.2. Powers..............................................................................41
10.3. General Immunity....................................................................41
10.4. No Responsibility for Loans, Recitals, etc..........................................41
10.5. Action on Instructions of Lenders...................................................42
10.6. Employment of Agents and Counsel....................................................42
10.7. Reliance on Documents; Counsel......................................................42
10.8. Agent's Reimbursement and Indemnification...........................................42
10.9. Notice of Default...................................................................43
10.10. Rights as a Lender..................................................................43
10.11. Lender Credit Decision..............................................................43
10.12. Successor Agent.....................................................................43
10.13. Agent and Arranger Fees.............................................................44
10.14. Delegation to Affiliates............................................................44
10.15. Syndication Agents; Senior Managing Agents; Managing Agents.........................44
ARTICLE XI SETOFF; RATABLE PAYMENTS.........................................................45
11.1. Setoff..............................................................................45
11.2. Ratable Payments....................................................................45
ARTICLE XII BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS...............................45
12.1. Successors and Assigns..............................................................45
12.2. Participations......................................................................46
12.3. Assignments.........................................................................47
12.4. Dissemination of Information........................................................48
12.5. Tax Treatment.......................................................................48
ARTICLE XIII NOTICES........................................................................49
13.1. Giving Notice.......................................................................49
13.2. Change of Address...................................................................49
ARTICLE XIV COUNTERPARTS....................................................................50
ARTICLE XV CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL ....................50
15.1. CHOICE OF LAW.......................................................................50
15.2. CONSENT TO JURISDICTION.............................................................50
15.3. WAIVER OF JURY TRIAL................................................................50
{/Table}
-iii-
{Page}
EXHIBITS
Exhibit A Note
Exhibit B Compliance Certificate
Exhibit C Assignment and Assumption Agreement
Exhibit D Commitment Addition Agreement
SCHEDULES
Pricing Schedule
Schedule 1 Commitments
-iv-
{Page}
364-DAY CREDIT AGREEMENT
This 364-Day Credit Agreement, dated as of February 7, 2003, is among Aon
Corporation, a Delaware corporation, the Lenders and Bank One, NA, a national
banking association having its principal office in Chicago, Illinois, as Agent.
R E C I T A L S:
A. The Borrower has requested the Lenders to make financial
accommodations to it in the aggregate principal amount of $337,500,000; and
B. The Lenders are willing to extend such financial accommodations on the
terms and conditions set forth below.
NOW, THEREFORE, in consideration of the premises and of the mutual
agreements made herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders and the Agent hereby agree as follows:
ARTICLE I
DEFINITIONS
As used in this Agreement:
"Advance" means a borrowing of Loans, (a) advanced by the Lenders on the
same Borrowing Date, or (b) converted or continued by the Lenders on the same
date of conversion or continuation, consisting, in either case, of the aggregate
amount of the several Loans of the same Type and, in the case of Eurodollar
Loans, for the same Interest Period.
"Affiliate" of any Person means any other Person directly or indirectly
controlling, controlled by or under common control with such Person. A Person
shall be deemed to control another Person if the controlling Person owns 10% or
more of any class of voting securities (or other ownership interests) of the
controlled Person or possesses, directly or indirectly, the power to direct or
cause the direction of the management or policies of the controlled Person,
whether through ownership of stock, by contract or otherwise.
"Agent" means Bank One in its capacity as contractual representative of the
Lenders pursuant to ARTICLE X, and not in its individual capacity as a Lender,
and any successor Agent appointed pursuant to ARTICLE X.
"Aggregate Commitment" means the aggregate of the Commitments of all the
Lenders, as reduced or increased from time to time pursuant to the terms hereof.
The initial Aggregate Commitment is $337,500,000.
{Page}
"Agreement" means this 364-Day Credit Agreement, as it may be amended or
modified and in effect from time to time.
"Agreement Accounting Principles" means generally accepted accounting
principles as in effect from time to time, applied in a manner consistent with
those used in preparing the financial statements referred to in SECTION 5.5.
"Alternate Base Rate" means, for any day, a rate of interest per annum
equal to the higher of (a) the Prime Rate for such day, and (b) the sum of the
Federal Funds Effective Rate for such day plus 1/2% per annum.
"Alternate Base Rate Advance" means an Advance which, except as otherwise
provided in SECTION 2.11, bears interest at the Alternate Base Rate.
"Alternate Base Rate Loan" means a Loan which, except as otherwise provided
in SECTION 2.11, bears interest at the Alternate Base Rate.
"Applicable Facility Fee Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Facility Fee Rate shall change as and when the Borrower Debt Rating changes. The
initial Applicable Facility Fee Rate shall be .10%.
"Applicable Margin" means, with respect to Advances of any Type at any
time, the percentage rate per annum which is applicable at such time with
respect to Advances of such Type as set forth in the Pricing Schedule.
"Applicable Term Out Premium Rate" means, at any time, the p |