BRIDGE RECEIVABLES CREDIT AGTBridge Loan Agreement |
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SUNGARD DATA SYSTEMS INC | SUNGARD FUNDING II LLC | JPMORGAN CHASE BANK, N.A. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Exhibit 10.7
SUNGARD BRIDGE RECEIVABLES FACILITY
BRIDGE RECEIVABLES CREDIT AGREEMENT
Dated as of August 11, 2005
among
SUNGARD FUNDING II LLC,
as the Borrower,
The Persons Parties hereto as
Conduit Lenders, Committed Lenders and Funding Agents,
and
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
TABLE OF CONTENTS
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Page |
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ARTICLE I |
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DEFINITIONS AND ACCOUNTING TERMS |
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2 |
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SECTION 1.01. |
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Defined Terms |
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2 |
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SECTION 1.02. |
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Other Interpretive Provisions |
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2 |
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SECTION 1.03. |
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Accounting Terms |
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2 |
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SECTION 1.04. |
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Rounding |
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2 |
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SECTION 1.05. |
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References to Agreements, Laws, Etc. |
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3 |
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SECTION 1.06. |
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Times of Day |
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3 |
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SECTION 1.07. |
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Timing of Payment of Performance |
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3 |
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ARTICLE II |
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THE FACILITY LIMIT AND BORROWINGS |
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3 |
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SECTION 2.01. |
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The Loans |
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3 |
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SECTION 2.02. |
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Borrowings, Conversions and Continuations of Loans |
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3 |
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SECTION 2.03. |
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Prepayments |
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6 |
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SECTION 2.04. |
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Reduction of the Facility Limit |
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7 |
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SECTION 2.05. |
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Interest |
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7 |
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SECTION 2.06. |
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Fees |
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8 |
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SECTION 2.07. |
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Computation of Interest and Fees |
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8 |
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SECTION 2.08. |
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Evidence of Indebtedness |
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8 |
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SECTION 2.09. |
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Payments Generally |
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9 |
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SECTION 2.10. |
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Sharing of Payments |
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10 |
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ARTICLE III |
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TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY |
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11 |
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SECTION 3.01. |
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Taxes |
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11 |
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SECTION 3.02. |
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Illegality |
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13 |
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SECTION 3.03. |
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Inability to Determine Rates |
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13 |
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SECTION 3.04. |
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Increased Cost and Reduced Return; Capital Adequacy; Reserves on LIBO Rate Loans |
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14 |
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SECTION 3.05. |
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Funding Losses |
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15 |
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SECTION 3.06. |
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Matters Applicable to All Requests for Compensation |
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16 |
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SECTION 3.07. |
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Payable from Collections |
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17 |
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ARTICLE IV |
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CONDITIONS PRECEDENT TO BORROWINGS |
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17 |
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SECTION 4.01. |
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Conditions to the Effectiveness of this Agreement |
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17 |
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SECTION 4.02. |
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Conditions to All Loans |
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19 |
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ARTICLE V |
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REPRESENTATIONS AND WARRANTIES |
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19 |
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Section 5.01 |
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Existence, Qualification and Power; Compliance with Laws |
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19 |
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Section 5.02 |
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Authorization; No Contravention |
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20 |
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Section 5.03 |
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Governmental Authorization; Other Consents |
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20 |
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Section 5.04 |
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Binding Effect |
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20 |
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Section 5.05 |
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Litigation |
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21 |
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Section 5.06 |
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No Default |
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21 |
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Section 5.07 |
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Ownership of Property; Liens |
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21 |
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Section 5.08 |
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Taxes |
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21 |
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Section 5.09 |
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Employees |
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21 |
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Section 5.10 |
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Subsidiaries; Equity Interests |
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21 |
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Section 5.11 |
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Margin Regulations; Investment Company Act; Public Utility Holding Company Act |
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21 |
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Section 5.12 |
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Solvency |
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22 |
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Section 5.13 |
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Certificates |
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22 |
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Section 5.14 |
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Perfection |
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22 |
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Section 5.15 |
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Early Amortization Event; Potential Early Amortization Event |
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22 |
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Section 5.16 |
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Good Title |
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22 |
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Section 5.17 |
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Uniform Commercial Code Article 9 Representation |
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23 |
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ARTICLE VI |
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AFFIRMATIVE COVENANTS OF THE BORROWER |
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24 |
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SECTION 6.01. |
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Financial Statements |
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24 |
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SECTION 6.02. |
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Certificates; Other Information |
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24 |
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SECTION 6.03. |
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Notices |
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25 |
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SECTION 6.04. |
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Payment of Obligations |
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25 |
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SECTION 6.05. |
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Information Regarding Collateral |
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25 |
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SECTION 6.06. |
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Compliance with Laws |
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25 |
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SECTION 6.07. |
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Books and Records |
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25 |
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SECTION 6.08. |
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Inspection/Audit Rights |
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26 |
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SECTION 6.09. |
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Covenant to Guarantee Obligations and Give Security |
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26 |
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SECTION 6.10. |
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Compliance with SunGard Financial Policy |
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26 |
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SECTION 6.11. |
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Performance and Enforcement of Receivables Purchase Agreements |
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26 |
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SECTION 6.12. |
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Insurance |
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26 |
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SECTION 6.13. |
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Payment to SunGard Financing |
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27 |
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SECTION 6.14. |
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Further Assurances and Post-Closing Conditions |
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27 |
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SECTION 6.15. |
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Net Worth |
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27 |
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SECTION 6.16. |
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Lenders’ Reliance |
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27 |
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SECTION 6.17. |
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Borrower’s Payment of Fees and Expenses |
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27 |
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ARTICLE VII |
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NEGATIVE COVENANTS OF THE BORROWER |
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28 |
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SECTION 7.01. |
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Sales, Liens |
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28 |
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SECTION 7.02. |
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Investments |
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28 |
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SECTION 7.03. |
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Indebtedness |
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28 |
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SECTION 7.04. |
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Fundamental Changes |
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28 |
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SECTION 7.05. |
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Restricted Payments |
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28 |
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SECTION 7.06. |
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Change in Nature of Business |
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28 |
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SECTION 7.07. |
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Transactions with Affiliates |
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28 |
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SECTION 7.08. |
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Use of Proceeds |
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28 |
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SECTION 7.09. |
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Accounting Changes |
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29 |
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SECTION 7.10. |
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Name Change, Offices and Records |
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29 |
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SECTION 7.11. |
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Change in Payment Instructions to Obligors |
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29 |
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SECTION 7.12. |
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Modifications to Contracts and SunGard Financial Policy |
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29 |
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SECTION 7.13. |
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No Designation of “Amortization Date” |
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29 |
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SECTION 7.14. |
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Amendments to Documents |
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29 |
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SECTION 7.15. |
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Employees |
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30 |
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ARTICLE VIII |
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COVENANTS OF THE ADMINISTRATIVE AGENT |
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30 |
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SECTION 8.01. |
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Certain Duties of the Administrative Agent |
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30 |
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ARTICLE IX |
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EARLY AMORTIZATION EVENTS, EVENTS OF DEFAULT AND REMEDIES |
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30 |
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SECTION 9.01. |
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Early Amortization Events |
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30 |
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SECTION 9.02. |
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Remedies Upon an Early Amortization Event |
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33 |
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ARTICLE X |
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ADMINISTRATIVE AGENT AND OTHER AGENTS |
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34 |
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SECTION 10.01. |
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Appointment and Authorization of Agents |
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34 |
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SECTION 10.02. |
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Delegation of Duties |
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34 |
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SECTION 10.03. |
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Liability of Agents |
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35 |
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SECTION 10.04. |
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Reliance by Agents |
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