COMMODITY COLLATERAL REVOLVING CREDIT AGREEMENTRevolving Credit Agreement |
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EXHIBIT 10.1
___________________________________________________
COMMODITY COLLATERAL REVOLVING
CREDIT AGREEMENT
Dated as of July 8, 2008
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CALPINE CORPORATION,
as Borrower
THE LENDERS FROM TIME TO TIME PARTIES HERETO
GOLDMAN SACHS CREDIT PARTNERS L.P.,
as Payment Agent
GOLDMAN SACHS CREDIT PARTNERS L.P.,
as Sole Lead Arranger and Sole Bookrunner
TABLE OF CONTENTS
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ARTICLE
I DEFINITIONS; CONSTRUCTION
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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 1.02
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Terms Generally.
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15
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ARTICLE
II ADVANCES AND REPAYMENTS
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15
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SECTION 2.01.
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Commitments.
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15
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SECTION 2.02.
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Computation of MTM Exposure.
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15
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SECTION 2.03.
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Computation of Advance Amounts.
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16
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SECTION 2.04.
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Advances.
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17
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SECTION 2.05.
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Repayment of Advances by the Borrower.
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18
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SECTION 2.06.
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Payment Instructions.
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18
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SECTION 2.07.
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Deemed Transactions.
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18
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SECTION 2.08.
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Fees.
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19
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SECTION 2.09.
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Evidence of Indebtedness.
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19
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SECTION 2.10.
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Computation of Interest.
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20
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SECTION 2.11.
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Payment of Interest.
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20
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SECTION 2.12.
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Repayments Prior to the Commitment Termination Date.
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20
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SECTION 2.13.
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Termination and Reduction of Commitments.
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21
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SECTION 2.14.
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Reserve Requirements; Change in Circumstances.
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21
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SECTION 2.15.
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Change in Legality.
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23
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SECTION 2.16.
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Pro Rata Treatment.
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23
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SECTION 2.17.
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Sharing of Setoffs.
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24
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SECTION 2.18.
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Payments.
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24
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SECTION 2.19.
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Taxes.
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25
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ARTICLE
III REPRESENTATIONS AND WARRANTIES
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27
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SECTION 3.01.
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Existence; Compliance with Law.
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27
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SECTION 3.02.
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Power; Authorizations; Enforceable Obligations.
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27
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SECTION 3.03.
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No Legal Bar.
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28
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SECTION
3.04.
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Accuracy of Information.
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28
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SECTION
3.05.
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Financial Condition.
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28
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-i-
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TABLE OF CONTENTS
(continued)
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SECTION 3.06.
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Subsidiaries.
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29
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SECTION 3.07.
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Title to Assets; Liens.
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29
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SECTION 3.08.
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No Default.
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29
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SECTION 3.09.
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Use of Proceeds.
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30
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SECTION 3.10.
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Litigation.
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30
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SECTION 3.11.
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Federal Regulations.
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30
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SECTION 3.12.
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Compliance with Law.
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30
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SECTION 3.13.
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Taxes.
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30
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SECTION 3.14.
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ERISA.
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30
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SECTION 3.15.
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Environmental Matters; Hazardous Material.
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31
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SECTION 3.16.
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Investment Company Act; Other Regulations.
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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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Security Documents.
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31
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SECTION 3.19.
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Solvency.
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32
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SECTION 3.20.
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Senior Indebtedness.
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32
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SECTION 3.21.
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Certain Documents.
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32
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ARTICLE
VI CONDITIONS
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32
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SECTION 4.01.
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Initial Advances.
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32
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SECTION 4.02.
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Conditions for All Advances.
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34
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ARTICLE
V AFFIRMATIVE COVENANTS
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34
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SECTION 5.01.
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Financial Statements, Etc.
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34
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SECTION 5.02.
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Certificates; Other Information.
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35
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SECTION 5.03.
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Payment of Obligations.
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37
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SECTION
5.04.
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Maintenance of Existence; Compliance with Contractual Obligations
and Requirements of Law.
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37
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SECTION 5.05.
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Maintenance of Property; Insurance.
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37
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SECTION 5.06.
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Inspection of Property; Books and Records;
Discussions.
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37
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SECTION 5.07.
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Notices.
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38
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SECTION 5.08.
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Environmental laws.
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39
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SECTION 5.09.
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Employee Benefits.
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39
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-ii-
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TABLE OF CONTENTS
(continued)
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SECTION 5.10.
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Further Assurances.
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39
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SECTION 5.11.
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First Priority Lien.
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41
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ARTICLE
VI NEGATIVE COVENANTS
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41
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