SENIOR UNSECURED BRIDGE LOAN AGREEMENTBridge Loan Agreement |
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ALLIS CHALMERS ENERGY INC. | ROYAL BANK OF CANADA | RBC CAPITAL MARKETS CORPORATION. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 10.1
CONFIDENTIAL
$300,000,000
SENIOR UNSECURED
BRIDGE LOAN AGREEMENT
Dated as of December 18, 2006
among
ALLIS-CHALMERS ENERGY INC.
as the Borrower,
THE GUARANTORS NAMED HEREIN
as the Guarantors,
THE LENDERS NAMED HEREIN
as the Lenders,
ROYAL BANK OF CANADA
as Administrative Agent,
and
RBC CAPITAL MARKETS CORPORATION
as Sole Lead Arranger and Sole Bookrunner
Table of Contents
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ARTICLE I Definitions |
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1 |
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SECTION
1.01. |
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Defined Terms |
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1 |
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SECTION
1.03. |
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Classification of Loans |
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17 |
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SECTION
1.04. |
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References to Agreements
and Laws |
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17 |
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SECTION
1.05. |
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Times of Day |
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17 |
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SECTION
1.06. |
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Timing of Payment or
Performance |
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17 |
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ARTICLE II Loans |
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17 |
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SECTION
2.01. |
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Commitments |
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17 |
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SECTION
2.02. |
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Loans |
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17 |
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SECTION
2.03. |
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Use of Proceeds |
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18 |
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SECTION
2.04. |
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Borrowing Procedure |
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18 |
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SECTION
2.05. |
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Evidence of Debt; Repayment
of Loans |
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18 |
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SECTION
2.06. |
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Fees |
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19 |
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SECTION
2.07. |
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Interest on Loans |
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19 |
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SECTION
2.08. |
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Default Interest |
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20 |
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SECTION
2.09. |
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Alternate Rate of Interest |
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20 |
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SECTION
2.10. |
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Repayment |
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20 |
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SECTION
2.11. |
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Conversion and Continuation
of Borrowings |
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20 |
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SECTION
2.12. |
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Termination of Commitments |
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21 |
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SECTION
2.13. |
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Optional Prepayment |
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21 |
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SECTION
2.14. |
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Mandatory Prepayments |
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21 |
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SECTION
2.15. |
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Reserve Requirements;
Change in Circumstances |
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22 |
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SECTION
2.16. |
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Change in Legality |
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23 |
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SECTION
2.17. |
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Indemnity |
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24 |
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SECTION
2.18. |
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Pro Rata Treatment |
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24 |
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SECTION
2.19. |
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Sharing of Setoffs |
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24 |
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SECTION
2.20. |
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Payments |
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24 |
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SECTION
2.21. |
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Taxes |
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25 |
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SECTION
2.22. |
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Assignment of Commitments
Under Certain Circumstances; Duty to Mitigate |
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27 |
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ARTICLE III Representations
and Warranties |
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28 |
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SECTION
3.01. |
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Organization; Powers |
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28 |
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SECTION
3.02. |
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Authorization |
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28 |
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SECTION
3.03. |
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Enforceability |
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28 |
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SECTION
3.04. |
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Governmental Approvals |
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28 |
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SECTION
3.05. |
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Financial Statements |
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29 |
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SECTION
3.06. |
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No Material Adverse Change |
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29 |
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SECTION
3.07. |
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Title to Properties;
Possession Under Leases |
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29 |
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SECTION
3.08. |
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Subsidiaries |
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29 |
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ALY
Bridge Loan Agreement
i
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SECTION
3.09. |
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Litigation; Compliance with
Laws |
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30 |
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SECTION
3.10. |
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Agreements |
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30 |
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SECTION
3.11. |
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Federal Reserve Regulations |
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30 |
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SECTION
3.12. |
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Investment Company Act |
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30 |
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SECTION
3.13. |
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Tax Returns |
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30 |
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SECTION
3.14. |
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No Material Misstatements |
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30 |
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SECTION
3.15. |
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Employee Benefit Plans |
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30 |
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SECTION
3.16. |
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Environmental Matters |
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31 |
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SECTION
3.17. |
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Labor Matters |
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31 |
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SECTION
3.18. |
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Solvency |
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31 |
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ARTICLE IV Conditions of
Lending |
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32 |
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ARTICLE V Affirmative
Covenants |
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35 |
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SECTION
5.01. |
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Existence; Compliance with
Laws and Contractual Obligations; Businesses and Properties |
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35 |
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SECTION
5.02. |
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Insurance |
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35 |
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SECTION
5.03. |
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Taxes |
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36 |
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SECTION
5.04. |
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Financial Statements,
Reports, etc. |
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36 |
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SECTION
5.05. |
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Litigation and Other
Notices |
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37 |
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SECTION
5.06. |
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Maintaining Records; Access
to Properties and Inspections; Maintenance of Ratings |
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38 |
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SECTION
5.07. |
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Additional Guarantors |
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38 |
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SECTION
5.08. |
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Use of Proceeds |
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38 |
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ARTICLE VI Negative
Covenants |
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38 |
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SECTION
6.01. |
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Indebtedness |
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38 |
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SECTION
6.02. |
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Liens |
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39 |
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SECTION
6.03. |
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Sale and Lease-Back
Transactions |
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41 |
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SECTION
6.04. |
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Investments, Loans and
Advances |
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41 |
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SECTION
6.05. |
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Mergers, Consolidations,
and Sales of Assets |
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42 |
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SECTION
6.06. |
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Restricted Payments;
Restrictive Agreements |
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42 |
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SECTION
6.07. |
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Transactions with
Affiliates |
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43 |
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SECTION
6.08. |
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Change in Nature of
Business |
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44 |
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SECTION
6.09. |
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Other Indebtedness and
Agreements |
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44 |
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SECTION
6.10. |
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Partnership, etc. |
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44 |
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SECTION
6.11. |
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Accounting Changes; Fiscal
Year |
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44 |
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SECTION
6.12. |
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Capital Expenditures |
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44 |
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ARTICLE VII Events of
Default |
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44 |
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ARTICLE VIII Guarantee |
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47 |
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SECTION
8.01. |
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The Guarantee |
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