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BRIDGE RECEIVABLES CREDIT AGT

Bridge Loan Agreement

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SUNGARD DATA SYSTEMS INC | SUNGARD FUNDING II LLC | JPMORGAN CHASE BANK, N.A

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Title: BRIDGE RECEIVABLES CREDIT AGT
Governing Law: New York     Date: 11/9/2005
Industry: CMPSRV     Sector: TECHNO

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Bridge Receivables Credit Agt dated as of 8/11/05

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

 

 

 

 

 

 

 

 

 

  

Page


ARTICLE I

 

DEFINITIONS AND ACCOUNTING TERMS

  

2

 

 

 

SECTION 1.01.

 

Defined Terms

  

2

SECTION 1.02.

 

Other Interpretive Provisions

  

2

SECTION 1.03.

 

Accounting Terms

  

2

SECTION 1.04.

 

Rounding

  

2

SECTION 1.05.

 

References to Agreements, Laws, Etc.

  

3

SECTION 1.06.

 

Times of Day

  

3

SECTION 1.07.

 

Timing of Payment of Performance

  

3

 

 

 

ARTICLE II

 

THE FACILITY LIMIT AND BORROWINGS

  

3

 

 

 

SECTION 2.01.

 

The Loans

  

3

SECTION 2.02.

 

Borrowings, Conversions and Continuations of Loans

  

3

SECTION 2.03.

 

Prepayments

  

6

SECTION 2.04.

 

Reduction of the Facility Limit

  

7

SECTION 2.05.

 

Interest

  

7

SECTION 2.06.

 

Fees

  

8

SECTION 2.07.

 

Computation of Interest and Fees

  

8

SECTION 2.08.

 

Evidence of Indebtedness

  

8

SECTION 2.09.

 

Payments Generally

  

9

SECTION 2.10.

 

Sharing of Payments

  

10

 

 

 

ARTICLE III

 

TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY

  

11

 

 

 

SECTION 3.01.

 

Taxes

  

11

SECTION 3.02.

 

Illegality

  

13

SECTION 3.03.

 

Inability to Determine Rates

  

13

SECTION 3.04.

 

Increased Cost and Reduced Return; Capital Adequacy; Reserves on LIBO Rate Loans

  

14

SECTION 3.05.

 

Funding Losses

  

15

SECTION 3.06.

 

Matters Applicable to All Requests for Compensation

  

16

SECTION 3.07.

 

Payable from Collections

  

17

 

 

 

ARTICLE IV

 

CONDITIONS PRECEDENT TO BORROWINGS

  

17

 

 

 

SECTION 4.01.

 

Conditions to the Effectiveness of this Agreement

  

17

SECTION 4.02.

 

Conditions to All Loans

  

19

 

 

 

ARTICLE V

 

REPRESENTATIONS AND WARRANTIES

  

19

 

 

 

Section 5.01

 

Existence, Qualification and Power; Compliance with Laws

  

19

Section 5.02

 

Authorization; No Contravention

  

20

Section 5.03

 

Governmental Authorization; Other Consents

  

20


 

 

 

 

 

Section 5.04

 

Binding Effect

  

20

Section 5.05

 

Litigation

  

21

Section 5.06

 

No Default

  

21

Section 5.07

 

Ownership of Property; Liens

  

21

Section 5.08

 

Taxes

  

21

Section 5.09

 

Employees

  

21

Section 5.10

 

Subsidiaries; Equity Interests

  

21

Section 5.11

 

Margin Regulations; Investment Company Act; Public Utility Holding Company Act

  

21

Section 5.12

 

Solvency

  

22

Section 5.13

 

Certificates

  

22

Section 5.14

 

Perfection

  

22

Section 5.15

 

Early Amortization Event; Potential Early Amortization Event

  

22

Section 5.16

 

Good Title

  

22

Section 5.17

 

Uniform Commercial Code Article 9 Representation

  

23

 

 

 

ARTICLE VI

 

AFFIRMATIVE COVENANTS OF THE BORROWER

  

24

 

 

 

SECTION 6.01.

 

Financial Statements

  

24

SECTION 6.02.

 

Certificates; Other Information

  

24

SECTION 6.03.

 

Notices

  

25

SECTION 6.04.

 

Payment of Obligations

  

25

SECTION 6.05.

 

Information Regarding Collateral

  

25

SECTION 6.06.

 

Compliance with Laws

  

25

SECTION 6.07.

 

Books and Records

  

25

SECTION 6.08.

 

Inspection/Audit Rights

  

26

SECTION 6.09.

 

Covenant to Guarantee Obligations and Give Security

  

26

SECTION 6.10.

 

Compliance with SunGard Financial Policy

  

26

SECTION 6.11.

 

Performance and Enforcement of Receivables Purchase Agreements

  

26

SECTION 6.12.

 

Insurance

  

26

SECTION 6.13.

 

Payment to SunGard Financing

  

27

SECTION 6.14.

 

Further Assurances and Post-Closing Conditions

  

27

SECTION 6.15.

 

Net Worth

  

27

SECTION 6.16.

 

Lenders’ Reliance

  

27

SECTION 6.17.

 

Borrower’s Payment of Fees and Expenses

  

27

 

 

 

ARTICLE VII

 

NEGATIVE COVENANTS OF THE BORROWER

  

28

 

 

 

SECTION 7.01.

 

Sales, Liens

  

28

SECTION 7.02.

 

Investments

  

28

SECTION 7.03.

 

Indebtedness

  

28

SECTION 7.04.

 

Fundamental Changes

  

28

 

ii


 

 

 

 

 

SECTION 7.05.

 

Restricted Payments

  

28

SECTION 7.06.

 

Change in Nature of Business

  

28

SECTION 7.07.

 

Transactions with Affiliates

  

28

SECTION 7.08.

 

Use of Proceeds

  

28

SECTION 7.09.

 

Accounting Changes

  

29

SECTION 7.10.

 

Name Change, Offices and Records

  

29

SECTION 7.11.

 

Change in Payment Instructions to Obligors

  

29

SECTION 7.12.

 

Modifications to Contracts and SunGard Financial Policy

  

29

SECTION 7.13.

 

No Designation of “Amortization Date”

  

29

SECTION 7.14.

 

Amendments to Documents

  

29

SECTION 7.15.

 

Employees

  

30

 

 

 

ARTICLE VIII

 

COVENANTS OF THE ADMINISTRATIVE AGENT

  

30

 

 

 

SECTION 8.01.

 

Certain Duties of the Administrative Agent

  

30

 

 

 

ARTICLE IX

 

EARLY AMORTIZATION EVENTS, EVENTS OF DEFAULT AND REMEDIES

  

30

 

 

 

SECTION 9.01.

 

Early Amortization Events

  

30

SECTION 9.02.

 

Remedies Upon an Early Amortization Event

  

33

 

 

 

ARTICLE X

 

ADMINISTRATIVE AGENT AND OTHER AGENTS

  

34

 

 

 

SECTION 10.01.

 

Appointment and Authorization of Agents

  

34

SECTION 10.02.

 

Delegation of Duties

  

34

SECTION 10.03.

 

Liability of Agents

  

35

SECTION 10.04.

 

Reliance by Agents