364-DAY SENIOR BRIDGE LOAN AGREEMENTBridge Loan Agreement |
|
|
|
You are currently viewing: This Bridge Loan Agreement involves
TYCO INTERNATIONAL LTD., | TYCO INTERNATIONAL FINANCE S.A., | CITIGROUP GLOBAL MARKETS INC. | BANC OF AMERICA SECURITIES LLC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Bridge Loan Agreement by:
Exhibit 10.1
CONFORMED COPY
Published CUSIP Number:
364-DAY
SENIOR BRIDGE LOAN AGREEMENT
(Fire & Safety and Engineered Products Businesses)
dated as of
April 25, 2007
among
TYCO
INTERNATIONAL GROUP S.A.,
Initial Borrower
TYCO INTERNATIONAL
LTD.,
Guarantor
TYCO
INTERNATIONAL FINANCE S.A.,
T Borrower
The Lenders Party Hereto
and
CITIBANK,
N.A.
as Administrative Agent
CITIGROUP GLOBAL MARKETS INC. and BANC OF AMERICA SECURITIES LLC
as Joint Bookrunners and Joint Lead Arrangers
CITIGROUP
GLOBAL MARKETS INC.
BANC OF AMERICA SECURITIES LLC
as Global Coordinators
TABLE OF CONTENTS
|
|
|
|
|
Page |
|
ARTICLE I |
Definitions |
|
1 |
|
|
Section 1.01 |
|
Defined Terms |
|
1 |
|
Section 1.02 |
|
Classification of Loans and Borrowings |
|
20 |
|
Section 1.03 |
|
Terms Generally |
|
20 |
|
Section 1.04 |
|
Accounting Terms; GAAP |
|
20 |
|
|
|
|
|
|
|
ARTICLE II |
The Credits |
|
21 |
|
|
Section 2.01 |
|
Commitments |
|
21 |
|
Section 2.02 |
|
Loans and Borrowings |
|
21 |
|
Section 2.03 |
|
Requests for Borrowings |
|
21 |
|
Section 2.04 |
|
Fundings to and Disbursements from Special Payment Account |
|
23 |
|
Section 2.05 |
|
Funding of Borrowings |
|
24 |
|
Section 2.06 |
|
Interest Elections |
|
24 |
|
Section 2.07 |
|
Termination and Reduction of Commitments |
|
26 |
|
Section 2.08 |
|
Repayment of Loans; Evidence of Debt |
|
26 |
|
Section 2.09 |
|
Prepayment of Loans; Mandatory Reduction of Commitments |
|
27 |
|
Section 2.10 |
|
Fees |
|
28 |
|
Section 2.11 |
|
Interest |
|
29 |
|
Section 2.12 |
|
Calculation of Interest and Fees |
|
29 |
|
Section 2.13 |
|
Payments Generally; Pro Rata Treatment; Sharing of Set-offs |
|
29 |
|
|
|
|
|
|
|
ARTICLE III |
Representations and Warranties |
|
31 |
|
|
Section 3.01 |
|
Organization; Powers |
|
31 |
|
Section 3.02 |
|
Authorization; Enforceability |
|
31 |
|
Section 3.03 |
|
Governmental Approvals; No Conflicts |
|
32 |
|
Section 3.04 |
|
Financial Condition; No Material Adverse Change |
|
32 |
|
Section 3.05 |
|
Litigation and Environmental Matters |
|
32 |
|
Section 3.06 |
|
Investment Company Status |
|
33 |
|
Section 3.07 |
|
Taxes |
|
33 |
|
Section 3.08 |
|
ERISA |
|
33 |
|
Section 3.09 |
|
Disclosure |
|
34 |
|
Section 3.10 |
|
Subsidiaries |
|
34 |
|
Section 3.11 |
|
Margin Regulations |
|
34 |
|
|
|
|
|
|
|
ARTICLE IV |
Conditions |
|
34 |
|
|
Section 4.01 |
|
Effective Date |
|
34 |
|
Section 4.02 |
|
Each Borrowing |
|
35 |
|
|
|
|
|
|
|
ARTICLE V |
Covenants |
|
37 |
|
|
Section 5.01 |
|
Financial Statements and Other Information |
|
37 |
|
Section 5.02 |
|
Existence; Conduct of Business |
|
38 |
|
Section
5.03 |
|
Maintenance of Properties; Insurance |
|
38 |
|
Section 5.04 |
|
Books and Records; Inspection Rights |
|
39 |
|
Section 5.05 |
|
Compliance with Laws |
|
39 |
|
Section 5.06 |
|
Use of Proceeds |
|
39 |
|
Section 5.07 |
|
Liens |
|
39 |
|
Section 5.08 |
|
Fundamental Changes. |
|
41 |
|
Section 5.09 |
|
Financial Covenant. |
|
43 |
|
Section 5.10 |
|
Limitation on Restrictions on Subsidiary Dividends and Other Distributions |
|
43 |
|
Section 5.11 |
|
Transactions with Affiliates |
|
44 |
|
Section 5.12 |
|
Subsidiary Guarantors |
|
46 |
|
Section 5.13 |
|
Subsidiary Debt |
|
46 |
|
|
|
|
|
|
|
ARTICLE VI |
Events of Default |
|
46 |
|
|
|
|
|
|
|
|
ARTICLE VII |
The Administrative Agent |
|
49 |
|
|
|
|
|
|
|
|
ARTICLE VIII |
Guarantee |
|
52 |
|
|
Section 8.01 |
|
The Guarantee |
|
52 |
|
Section 8.02 |
|
Guarantee Unconditional |
|
52 |
|
Section 8.03 |
|
Discharge Only upon Payment in Full; Reimbursement in Certain Circumstances |
|
53 |
|
Section 8.04 |
|
Waiver by the Guarantor |
|
53 |
|
Section 8.05 |
|
Subrogation |
|
53 |
|
Section 8.06 |
|
Stay of Acceleration |
|
53 |
|
|
|
|
|
|
|
ARTICLE IX |
Yield Protection, Illegality and Taxes |
|
53 |
|
|
Section 9.01 |
|
Alternate Rate of Interest |
|
53 |
|
Section 9.02 |
|
Illegality |
|
54 |
|
Section 9.03 |
|
Increased Costs |
|
54 |
|
Section 9.04 |
|
Break Funding Payments |
|
55 |
|
Section 9.05 |
|
Taxes |
|
56 |
|
Section 9.06 |
|
Matters Applicable to all Requests for Compensation |
|
57 |
|
Section 9.07 |
|
Mitigation Obligations |
|
57 |
|
|
|
|
|
|
|
ARTICLE X |
Miscellaneous |
|
58 |
|
|
Section 10.01 |
|
Notices. |
|
58 |
|
Section 10.02 |
|
Waivers; Amendments |
|
59 |
|
Section 10.03 |
|
Expenses; Indemnity; Damage Waiver |
|
60 |
|
Section 10.04 |
|
Successors and Assigns |
|
62 |
|
Section 10.05 |
|
Survival |
|
66 |
|
Section 10.06 |
|
Counterparts; Integration; Effectiveness |
|
66 |
|
Section 10.07 |
|
Severability |
|
67 |
|
Section 10.08 |
|
Right of Setoff |
|
67 |
|
Section 10.09 |
|
Governing Law; Jurisdiction; Consent to Service of Process |
|
67 |
|
Section 10.10 |
|
Waiver of Jury Trial |
|
68 |
2
|
Section
10.11 |
|
Waiver of Immunities |
|
69 |
|
Section 10.12 |
|
Judgment Currency |
|
69 |
|
Section 10.13 |
|
Headings |
|
69 |
|
Section 10.14 |
|
Confidentiality |
|
70 |
|
Section 10.15 |
|
Electronic Communications |
|
71 |
|
Section 10.16 |
|
USA PATRIOT Act Notice |
|
72 |
SCHEDULES:
Schedule A – Existing Indenture Debt
Schedule 1.01 – Pricing Grid
Schedule 2.01 – Commitments
Schedule 5.09 – Cross Guarantees
Schedule 10.01 – Administrative Agent’s Office; Lender Notice
Addresses
EXHIBITS:
Exhibit A – Form of Note
Exhibit B – Form of Assignment and Assumption
Exhibit C-1 – Form of opinion of general counsel of Guarantor
Exhibit C-2 – Form of opinion of special Luxembourg counsel
Exhibit C-3 – Form of opinion of special Bermuda counsel
Exhibit C-4 – Form of opinion of special New York counsel
Exhibit D – Form of Borrower Assumption Agreement
Exhibit E – Form of Subsidiary Guaranty
Exhibit F – Form of Borrowing Request
Exhibit G – Form of Release Request
Exhibit H-1 – Form of opinion of special Luxembourg counsel (Borrower
Assumption Agreement)
Exhibit H-2 – Form of opinion of special New York counsel (Borrower
Assumption Agreement)
3
364-DAY SENIOR BRIDGE LOAN AGREEMENT (Fire & Safety and Engineered Products Businesses) dated as of April 25, 2007 (the “Closing Date”), among TYCO INTERNATIONAL GROUP S.A., a Luxembourg company (the “Initial Borrower”), TYCO INTERNATIONAL LTD., a Bermuda company (the “Guarantor”), TYCO INTERNATIONAL FINANCE S.A. a Luxembourg company (the “T Borrower”), the LENDERS party hereto, and CITIBANK, N.A., as Administrative Agent.
The parties hereto agree as follows:
ARTICLE I
Definitions
Section
1.01 Defined Terms. As used in this Agreement, the
following terms have the meanings specified below:
“ABR”, when used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such Borrowing, bear interest at a rate per annum equal to the Alternate Base Rate.
“Accumulated Other Comprehensive (Loss) Income” on any date means the amount of “Accumulated Other Comprehensive (Loss) Income” of the Guarantor and its Subsidiaries as of the end of the most recently completed fiscal quarter of the Guarantor prior to such date of determination determined on a consolidated basis in accordance with GAAP.






