Exhibit 99.2
AMENDMENT NO. 9 TO THIRD AMENDED
AND RESTATED
CREDIT AND REIMBURSEMENT AGREEMENT
Dated as of December 29,
2006
AMENDMENT NO. 9 TO THIRD AMENDED AND
RESTATED CREDIT AND REIMBURSEMENT AGREEMENT (this “
Amendment ”) among The AES Corporation, a Delaware
corporation (the “ Borrower ”), the Subsidiary
Guarantors, the Bank Parties listed on the signature pages hereto
(the “ Committing Banks ”), CITICORP USA, INC.,
as administrative agent (the “ Agent ”) and
CITIBANK, N.A., as Collateral Agent, for the Bank Parties (the
“ Collateral Agent ”).
PRELIMINARY
STATEMENTS
(1)
WHEREAS, the Borrower is party to a Third Amended and Restated
Credit and Reimbursement Agreement dated as of March 17, 2004 (as
amended, amended and restated, supplemented or otherwise modified
up to the date hereof, the “ Credit Agreement ”;
capitalized terms used herein but not defined shall be used herein
as defined in the Credit Agreement) among the Subsidiary
Guarantors, the Bank Parties, CITIGROUP GLOBAL MARKETS, INC., as
Lead Arranger and Book Runner, BANC OF AMERICA SECURITIES LLC, as
Lead Arranger and Book Runner and as Co-Syndication Agent (for the
Initial Term Loan Facility), DEUTSCHE BANK SECURITIES INC., as Lead
Arranger and Book Runner (for the Initial Term Loan Facility),
UNION BANK OF CALIFORNIA, N.A., as Co-Syndication Agent (for the
Initial Term Loan Facility) and as Lead Arranger and Book Runner
and as Syndication Agent (for the Revolving Credit Facility),
LEHMAN COMMERCIAL PAPER INC., as Co-Documentation Agent (for the
Initial Term Loan Facility), UBS SECURITIES LLC, as
Co-Documentation Agent (for the Initial Term Loan Facility),
SOCIÉTÉ GÉNÉRALE, as Co-Documentation Agent
(for the Revolving Credit Facility), CREDIT LYONNAISE NEW YORK
BRANCH, as Co-Documentation Agent (for the Revolving Credit
Facility), the Agent and the Collateral Agent;
(2)
WHEREAS, pursuant to Section 2.18 of the Credit Agreement, the
Borrower has requested an increase in the Commitments under the
Revolving Credit Loan Facility (a “ Revolving Credit Loan
Commitment Increase ”);
(3)
WHEREAS, the Committing Banks are willing to participate in such
Revolving Credit Loan Commitment Increase and have executed
counterparts to this Amendment;
NOW, THEREFORE, in consideration of
the premises and for other good and valuable consideration, the
sufficiency and receipt of all of which is hereby acknowledged, the
parties hereto hereby agree as follows:
SECTION
1.
Amendments . As of the Effective Date, the Credit
Agreement is hereby amended as follows:
(a)
Appendix I to the Credit Agreement is replaced in its entirety with
Appendix I to this Amendment.
1
SECTION
2.
Assumptions . As of the Effective Date, each
Committing Bank agrees that it shall succeed to the rights and be
obligated to perform the obligations of a Bank Party under the
Credit Agreement with a Revolving Credit Loan Commitment in an
amount equal to the amount set forth opposite its name on Appendix
I to this Amendment.
SECTION
3.
Independent Investigation . Each Committing Bank
acknowledges that it has, independently and without reliance on the
Agent or any other Bank Party, and based on such documents and
information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Amendment and will
continue to be responsible for making its own independent appraisal
of the business, affairs and financial condition of the
Borrower.
SECTION
4.
Conditions to Effectiveness . This Amendment shall
become effective when, and only when, and as of the date (the
“ Effective Date
”) on
which (a) the Agent shall have received counterparts of this
Amendment executed by the Borrower and each of the Subsidiary
Guarantors, each of the Revolving Fronting Banks listed on the
signature pages hereto and each of the Committing Banks or, as to
any of the Committing Banks, advice satisfactory to the Agent that
such Committing Bank has executed this Amendment, (b) the
Agent shall have received payment of all accrued fees and expenses
of the Agent (including the reasonable and accrued fees of counsel
to the Agent invoiced on or prior to the date hereof), (c) the
Agent shall have received a favorable opinion of the Counsel of the
Borrower regarding the due authorization, execution and delivery of
this Amendment and other matters reasonably requested by the Agent,
(d) the Agent shall have received a certificate signed by a duly
authorized officer of the Borrower dated the Effective Date, to the
effect that, after giving effect to this Amendment: (i) the
representations and warranties contained in each of the Financing
Documents are true and correct in all material respects on and as
of the Effective Date as though made on and as of such date (unless
stated to relate solely to an earlier date, in which case such
representations and warranties are true and correct in all material
respects as of such earlier date); and (ii) no Default has
occurred and is continuing, (e) the Agent shall have received
certified copies of resolutions of the Board of Directors (or a
committee thereof) of the Loan Parties approving the Revolving
Credit Loan Commitment Increase and this Amendment and (f) no
Revolving Credit Loans shall be outstanding.
SECTION
5.
Representations and Warranties . The Borrower
represents and warrants as follows:
(a)
The represen