364-DAY COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY

Retailer Agreement

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This Retailer Agreement involves

RAYTHEON CO/ | Raytheon Technical Services Company LLC | Raytheon Aircraft Company | Bank of America, N.A. | Citicorp USA, Inc. | JPMORGAN CHASE BANK | J.P. Morgan Securities INC. | BANC of AMERICA SECURITIES LLC

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Title: 364-DAY COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY
Governing Law: New York Date: 3/15/2004
Industry: CONGLM Law Firm: JPMorgan Chase Bank Sector: CONGLO

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364 DAY COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY

Exhibit 10.27

$1,400,000,000

364-DAY COMPETITIVE ADVANCE AND

REVOLVING CREDIT FACILITY

among

RAYTHEON COMPANY

as the Borrower,

Raytheon Technical Services Company LLC and

Raytheon Aircraft Company,

each as a Guarantor,

THE LENDERS NAMED HEREIN,

Bank of America, N.A.,

as Syndication Agent,

Citicorp USA, Inc. and Credit Suisse First Boston,

as Documentation Agents,

and

JPMORGAN CHASE BANK,

as Administrative Agent,

Dated as of November 24, 2003

J.P. Morgan Securities INC. and

BANC of AMERICA SECURITIES LLC

as Joint Lead Arrangers and Joint Bookrunners

Table of Contents


		Page
ARTICLE I Definitions		1
SECTION 1.01.	Defined Terms	13
SECTION 1.02.	Terms Generally	13

ARTICLE II The Credits		13
SECTION 2.01.	Commitments	13
SECTION 2.02.	Loans	13
SECTION 2.03.	Competitive Bid Procedure	14
SECTION 2.04.	Borrowing Procedure	16
SECTION 2.05.	Evidence of Debt; Repayment of Loans	16
SECTION 2.06.	Fees	17
SECTION 2.07.	Interest on Loans	18
SECTION 2.08.	Default Interest	18
SECTION 2.09.	Alternate Rate of Interest	18
SECTION 2.10.	Termination and Reduction of Commitments	19
SECTION 2.11.	Conversion and Continuation of Revolving Credit Borrowings	19
SECTION 2.12.	Prepayment	20
SECTION 2.13.	Reserve Requirements; Change in Circumstances	21
SECTION 2.14.	Change in Legality	22
SECTION 2.15.	Indemnity	22
SECTION 2.16.	Pro Rata Treatment	23
SECTION 2.17.	Sharing of Setoffs	23
SECTION 2.18.	Payments	23
SECTION 2.19.	Taxes	24
SECTION 2.20.	Assignment of Commitments Under Certain Circumstances; Duty to Mitigate	26

ARTICLE III Representations And Warranties		26
SECTION 3.01.	Organization; Powers	26
SECTION 3.02.	Authorization	27
SECTION 3.03.	Enforceability	27
SECTION 3.04.	Governmental Approvals	27
SECTION 3.05.	Financial Statements	27
SECTION 3.06.	No Material Adverse Change	27
SECTION 3.07.	Litigation; Compliance with Laws	27
SECTION 3.08.	Federal Reserve Regulations	28
SECTION 3.09.	Investment Company Act; Public Utility Holding Company Act	28
SECTION 3.10.	Tax Returns	28
SECTION 3.11.	No Material Misstatements	28
SECTION 3.12.	Employee Benefit Plans	28
SECTION 3.13.	No Default	29
SECTION 3.14.	Ownership of Property; Liens; Insurance	29
SECTION 3.15.	Intellectual Property	29
SECTION 3.16.	Labor Matters	29
SECTION 3.17.	Environmental Matters	29
SECTION 3.18.	Solvency	30


		Page

ARTICLE IV Conditions Of Effectiveness and Lending		30
SECTION 4.01.	All Borrowings	30
SECTION 4.02.	Effectiveness	31

ARTICLE V Affirmative Covenants		32
SECTION 5.01.	Existence; Businesses and Properties	32
SECTION 5.02.	Insurance	33
SECTION 5.03.	Payment of Obligations; Taxes	33
SECTION 5.04.	Financial Statements, Reports, etc	33
SECTION 5.05.	Litigation and Other Notices	34
SECTION 5.06.	Employee Benefits	34
SECTION 5.07.	Maintaining Records; Access to Properties and Inspections	34
SECTION 5.08.	Use of Proceeds	35
SECTION 5.09.	Environmental Laws	35

ARTICLE VI Negative Covenants		35
SECTION 6.01.	Liens	35
SECTION 6.02.	Sale and Lease-Back Transactions	36
SECTION 6.03.	Mergers, Consolidations and Sales of Assets	37
SECTION 6.04.	Subsidiary Indebtedness	37
SECTION 6.05.	Financial Covenants	37

ARTICLE VII Events Of Default		38

ARTICLE VIII The Administrative Agent		40

ARTICLE IX Guarantee		42

ARTICLE X Miscellaneous		43
SECTION 10.01.	Notices	43
SECTION 10.02.	Survival of Agreement	43
SECTION 10.03.	Binding Effect	44
SECTION 10.04.	Successors and Assigns	44
SECTION 10.05.	Expenses; Indemnity	47
SECTION 10.06.	Right of Setoff	47
*SECTION 10.07.*	*APPLICABLE LAW*	48
SECTION 10.08.	Waivers; Amendment	48
SECTION 10.09.	Interest Rate Limitation	48
SECTION 10.10.	Entire Agreement	48
*SECTION 10.11.*	*WAIVER OF JURY TRIAL*	49
SECTION 10.12.	Severability	49
SECTION 10.13.	Counterparts	49
SECTION 10.14.	Headings	49
SECTION 10.15.	Jurisdiction; Consent to Service of Process	49
SECTION 10.16.	Confidentiality	50
SECTION 10.17.	Release of Guarantees	50
SECTION 10.18.	Waiver and Consent of the Existing Credit Agreement	51

EXHIBITS



Exhibit A		Administrative Questionnaire

Exhibit B		Form of Assignment and Acceptance

Exhibit C		Form of Borrowing Request

Exhibit D-1		Form of Competitive Bid Request

Exhibit D-2		Form of Notice of Competitive Bid Request

Exhibit D-3		Form of Competitive Bid

Exhibit D-4		Form of Competitive Bid Accept/Reject Letter

Exhibit E		Form of Opinion of Jay B. Stephens

Exhibit F		Form of Opinion of Bingham McCutchen LLP

SCHEDULES



Schedule 2.01		Lenders and Commitments

Schedule 3.01		Significant Subsidiaries

Schedule 3.05		Financial Statements/Material Liabilities

Schedule 3.07		Litigation

Schedule 6.01		Existing Liens

Schedule 6.04