THIRD AMENDMENT AND WAIVERWaiver Agreement |
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BOWATER ALABAMA INC | BOWATER INCORPORATED | BOWATER MISSISSIPPI HOLDINGS INC | BOWATER MISSISSIPPI LLC | BOWATER NUWAY INC | BOWATER NUWAY MID-STATES INC | WACHOVIA BANK, NATIONAL ASSOCIATION. 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
E XECUTION C OPY
THIRD AMENDMENT AND WAIVER
This Third Amendment and Waiver (the “ Agreement ”) to the Credit Agreement referred to below is dated as of February 25, 2008, by and among BOWATER INCORPORATED, a corporation organized under the laws of Delaware, in its capacity as Borrower under the Credit Agreement referred to below (the “ Borrower ”), certain Subsidiaries of the Borrower party hereto (the “ Subsidiary Grantors ”), AbitibiBowater, Inc., a corporation organized under the laws of Delaware (the “ Parent ”), the Lenders and the Canadian Lenders party hereto (the “ Consenting Lenders ”) pursuant to an authorization (in the form attached hereto as Exhibit A , each a “ Lender Authorization ”) and WACHOVIA BANK, NATIONAL ASSOCIATION, as administrative agent (the “ Administrative Agent ”) for the Lenders party to the Credit Agreement referred to below.
STATEMENT OF PURPOSE:
The Borrower, the Lenders, certain other financial institutions and the Administrative Agent are parties to the Credit Agreement dated as of May 31, 2006 (as amended by that certain First Amendment dated as of July 20, 2007, that certain Second Amendment dated as of October 31, 2007, as amended hereby and as further amended, restated, supplemented or otherwise modified from time to time, the “ Credit Agreement ”).
The Borrower has requested that the Administrative Agent, the Lenders and the Canadian Lenders agree to amend the Credit Agreement as more specifically set forth herein. Subject to the terms and conditions set forth herein, the Administrative Agent and each of the Consenting Lenders have agreed to grant such requests of the Borrower.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Capitalized Terms . All capitalized undefined terms used in this Agreement (including, without limitation, in the introductory paragraph and the statement of purpose hereto) shall have the meanings assigned thereto in the Credit Agreement (as amended by this Agreement).
2. Waiver . Pursuant to Section 13.2 of the Credit Agreement and subject to the terms and conditions hereof, including, without limitation, the conditions to effectiveness set forth in Section 4 hereof, each of the Administrative Agent, the Issuing Lender and the other Consenting Lenders party hereto waive any and all Defaults or Events of Default occurring pursuant to Section 11.1(d) of the Credit Agreement solely as a result of the failure by the Borrower and its Subsidiaries to comply with the financial covenants set forth in Sections 9.1 and 9.2 of the Credit Agreement solely with respect to the testing period ended December 31, 2007.
3. Credit Agreement Amendments . The Credit Agreement is hereby amended as set forth on Exhibit B ; provided , that the Administrative Agent (in consultation with the Lenders and the Canadian Lenders) may effect such other amendments to the Credit Agreement as may be necessary or appropriate, in the opinion of the Administrative Agent (in consultation with the Lenders and the Canadian Lenders), to reflect changes in the structure of the Newco Transactions from the structure described in the Credit Agreement so long as (a) any such new structure has substantially the same economic end result as the structure described in the Credit Agreement and (b) any such changes are limited to changes that are not materially adverse to the Lenders or the Canadian Lenders.
4. Conditions to Effectiveness . Upon the satisfaction of each of the following conditions, this Agreement shall be deemed to be effective as of the date hereof:
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(a) the Administrative Agent shall have received counterparts of this Agreement executed by the Administrative Agent (on behalf of itself and each of the Consenting Lenders by virtue of each Consenting Lender’s execution of a Lender Authorization), the Borrower, the Parent and the Subsidiary Grantors;
(b) the Administrative Agent shall have received executed Lender Authorizations from the requisite Consenting Lenders;
(c) the Administrative Agent shall have been reimbursed for all fees (including, without limitation, the fees set forth in that certain letter agreement dated as of February 7, 2008 (as amended, restated, supplemented or otherwise modified) between Wachovia Capital Markets, LLC and the Borrower) and out-of-pocket charges and other expenses incurred in connection with this Agreement, including, without limitation, the reasonable fees and disbursements of counsel for the Administrative Agent;
(d) the Administrative Agent and the Canadian Administrative Agent shall have received Schedule 1.1(c) to the Credit Agreement and Schedule 1.1(c) to the Canadian Credit Agreement, in each case, in form and substance reasonably satisfactory to the Administrative Agent and the Canadian Administrative Agent;
(e) the Administrative Agent shall have received a corresponding amendment to the Canadian Credit Agreement, in form and substance substantially consistent with this Agreement (with such changes as are applicable only to the Canadian Credit Agreement), duly executed by the Canadian Administrative Agent, the Canadian Borrower, the Parent, each Canadian Guarantor and the requisite Consenting Lenders (whether directly or through a lender authorization);
(f) the Borrower shall have paid to the Administrative Agent (or its applicable affiliates), for the account of each Consenting Lender (including the Administrative Agent and the Canadian Administrative Agent) that executes and delivers this Agreement or a Lender Authorization to the Administrative Agent (or its counsel) on or prior to 2:00 p.m. (Eastern Time) on February 22, 2008, an amendment fee in an amount equal to (a) 25 basis points times the principal amount of such Consenting Lender’s Commitment plus (b) 25 basis points times the principal amount of such Consenting Lender’s “Commitment” (as defined in the Canadian Credit Agreement); and
(g) the Administrative Agent shall have received such other instruments, documents and certificates as the Administrative Agent shall reasonably request in connection with the execution of this Agreement.
5. Effect of the Agreement . Except as expressly provided herein, the Credit Agreement and the other Loan Documents shall remain unmodified and in full force and effect. Except as expressly set forth herein, this Agreement shall not be deemed (a) to be a waiver of, or consent to, a modification or amendment of, any other term or condition of the Credit Agreement or any other Loan Document, (b) to prejudice any other right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the Borrower or any other Person with respect to any waiver, amendment, modification or any other change to the Credit Agreement or the Loan Documents or any rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents or (d) to be a waiver of, or consent to or a modification or amendment of, any other term or condition of any other agreement by and among the Borrower, on the one hand, and the Administrative Agent or any other Lender, on the other hand.
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References in the Credit Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”, and “hereof”) and in any Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby.
6. Representations and Warranties/No Default . By their execution hereof,
(a) the Borrower and each Subsidiary Grantor hereby certifies, represents and warrants to the Administrative Agent and the Lenders that after giving effect to the waiver set forth in Section 2 above and the amendments set forth in Section 3 above, each of the representations and warranties set forth in the Credit Agreement and the other Loan Documents is true and correct in all material respects as of the date hereof (except to the extent that (A) any such representation or warranty that is qualified by materiality or by reference to Material Adverse Effect, in which case such representation or warranty is true and correct in all respects as of the date hereof or (B) any such representation or warranty relates only to an earlier date, in which case such representation or warranty shall remain true and correct as of such earlier date) and that no Default or Event of Default has occurred or is continuing;
(b) the Borrower, the Parent and each of the Subsidiary Grantors hereby certifies, represents and warrants to the Administrative Agent and the Lenders that:
(i) it has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance of this Agreement and each of the other documents executed in connection herewith to which it is a party in accordance with their respective terms and the transactions contemplated hereby; and
(ii) this Agreement and each other document executed in connection herewith has been duly executed and delivered by the duly authorized officers of the Borrower, the Parent and each of the Subsidiary Grantors, and each such document constitutes the legal, valid and binding obligation of the Borrower, the Parent and each of the Subsidiary Grantors, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.
7. Reaffirmations. Each Credit Party (a) agrees that the transactions contemplated by this Agreement shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, the Subsidiary Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party, (b) confirms and reaffirms its obligations under the Subsidiary Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party and (c) agrees that the Subsidiary Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party remain in full force and effect and are hereby ratified and confirmed. In furtherance of the reaffirmations set forth in this Section 7 , each Credit Party hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in, all Collateral and all proceeds thereof as security for the Obligations, in each case subject to any applicable terms and conditions set forth in the Subsidiary Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party.
8. Acknowledgement by Parent . The Parent hereby acknowledges receipt of a copy of the Credit Agreement and agrees, for the benefit of the Administrative Agent and the Secured Parties, to be bound thereby and to comply with the terms thereof insofar as such terms are applicable to it (including, without limitation, Sections 7.1(f) , 8.10(e)(i) , 10.6(i) and 11.1(o) ).
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9. Governing Law . THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
10. Counterparts . This Agreement may be executed by one or more of the parties hereto in any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
11. Electronic Transmission . A facsimile, telecopy, pdf or other reproduction of this Agreement may be executed by one or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy, pdf or other reproduction hereof.
12. Agreement Regarding Intercompany Subordination Agreement . The Intercompany Subordination Agreement is hereby amended by:
(a) adding the phrase “(other than the U.S. Borrower)” after the reference to “Canadian Credit Party” in the definition of “Demand Indebtedness”; and
(b) adding the phrase “(other than the U.S. Borrower)” after each reference to the “Canadian Credit Party” in Section 2.05(a) and (b).
[Signature Pages Follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date and year first above written.
| BORROWER: | ||||
| BOWATER INCORPORATED | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | Vice President & Treasurer | |||
| PARENT: | ||||
| ABITIBIBOWATER, INC. | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | Sr. Vice President & CFO | |||
| SUBSIDIARY GRANTORS: | ||||
| BOWATER MISSISSIPPI HOLDINGS INC. | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | Vice President & Treasurer | |||
| BOWATER MISSISSIPPI LLC | ||||
| By: | /s/ David A. Spraley | |||
| Name: | David A. Spraley | |||
| Title: | Manager | |||
| BOWATER AMERICA INC. | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | President | |||
| BOWATER NUWAY INC. | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | Vice President | |||
[Signature Pages Continue]
| BOWATER NUWAY MID-STATES INC. | ||||
| By: | /s/ William A. McCormick | |||
| Name: | William A. McCormick | |||
| Title: | Assistant Secretary | |||
| BOWATER ALABAMA INC. | ||||
| By: | /s/ William G. Harvey | |||
| Name: | William G. Harvey | |||
| Title: | Vice President & Treasurer | |||
[Signature Pages Continue]
| WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent (on behalf of itself and the Consenting Lenders who have executed a Lender Authorization) and as Issuing Lender, Swingline Lender and a Lender | ||
| By: | /s/ James Travagline | |
| Name: | James Travagline | |
| Title: | Vice President | |
[Third Amendment and Waiver – Bowater]
LENDER AUTHORIZATION
Bowater Incorporated
Bowater Canadian Forest Products Inc.
Third Amendment and Waiver
February 25, 2008
Wachovia Bank, National Association
NC0680
1525 West W.T. Harris Blvd.
Charlotte, North Carolina 28262
Attention: Syndication Agency Services
The Bank of Nova Scotia
40 King Street West
Scotia Plaza, 62 nd Floor
Toronto, Ontario M5W 2X6
Attention: Corporate Banking Loan Syndication
| Re: | (a) the Third Amendment and Waiver dated as of February 25, 2008 (the “ U.S. Agreement ”) to that certain Credit Agreement dated as of May 31, 2006 (as amended, the “ U.S. Credit Agreement ”) among Bowater Incorporated (the “ U.S. Borrower ”), the lenders party thereto (the “ U.S. Lenders ”), and Wachovia Bank, National Association, as administrative agent (the “ U.S. Administrative Agent ”) for the U.S. Lenders and (b) the Third Amendment and Waiver dated as of February 25, 2008 (the “ Canadian Agreement ” and, together with the U.S. Agreement, the “ Agreements ”) to that certain Credit Agreement dated as of May 31, 2006 (as amended, the “ Canadian Credit Agreement ”) among Bowater Canadian Forest Products Inc. (the “ Canadian Borrower ”), the U.S. Borrower, the lenders party thereto (the “ Canadian Lenders ”), and The Bank of Nova Scotia, as administrative agent (the “ Canadian Administrative Agent ”) for the Canadian Lenders. |
This Lender Authorization acknowledges our receipt and review of the execution copy of the Agreements, each in the form posted on SyndTrak Online or otherwise distributed to us by the U.S. Administrative Agent or the Canadian Administrative Agent. By executing this Lender Authorization, we hereby approve the Agreements and authorize the U.S. Administrative Agent or the Canadian Administrative Agent (as applicable) to execute and deliver the Agreements on our behalf.
Each financial institution purporting to be a U.S. Lender and executing this Lender Authorization agrees or reaffirms that it shall be a party to the Agreements and the other Loan Documents (as defined in the U.S. Credit Agreement) to which U.S. Lenders are parties and shall have the rights and obligations of a “Lender” (as defined in the U.S. Credit Agreement), and agrees to be bound by the terms and provisions applicable to a “Lender” under each such agreement. Each financial institution purporting to be a Canadian Lender and executing this Lender Authorization agrees or reaffirms that it shall be a party to the Agreements and the other Loan Documents (as defined in the Canadian Credit Agreement) to which Canadian Lenders are parties and shall have the rights and obligations of a “Lender” (as defined in the Canadian Credit Agreement), and agrees to be bound by the terms and provisions applicable to a “Lender” under each such agreement. In furtherance of the foregoing, each financial institution executing this Lender Authorization agrees to execute any additional documents reasonably requested by the U.S. Administrative Agent or the Canadian Administrative Agent, as applicable, to evidence such financial
institution’s rights and obligations under the U.S. Credit Agreement or the Canadian Credit Agreement, as applicable.
A facsimile, telecopy, pdf or other reproduction of this Lender Authorization may be executed by one or more parties hereto, and an executed copy of this Lender Authorization may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes.
| WACHOVIA BANK, N.A. | ||
| By: | /s/ James Travagline | |
| Name: | James Travagline | |
| Title: | Vice President | |
| WELLS FARGO FOOTHILL, LLC | ||
| By: | /s/ Rohan Damani | |
| Name: | Rohan Damani | |
| Title: | Vice President | |
| UBS LOAN FINANCE LLC | ||
| By: | /s/ Irja R. Otsa | |
| Name: | Irja R. Otsa | |
| Title: | Associate Director | |
| By: | /s/ David B. Julie | |
| Name: | David B. Julie | |
| Title: | Associate Director | |
| JPMORGAN CHASE BANK, N.A. | ||
| By: | /s/ Peter Predun | |
| Name: | Peter Predun | |
| Title: | Executive Director | |
| CAROLINA FIRST BANK | ||
| By: | /s/ Charles D. Chamberlain | |
| Name: | Charles D. Chamberlain | |
| Title: | Executive Vice President | |
| NORTH FORK BUSINESS CAPITAL CORPORATION | ||
| By: | /s/ Ron Walker | |
| Name: | Ron Walker | |
| Title: | Vice President | |
| CITICORP USA, INC. | ||
| By: | /s/ James M. Buchanan | |
| Name: | James M. Buchanan | |
| Title: | Vice President | |
| THE BANK OF NEW YORK MELLON | ||
| By: | /s/ Robert J. Mitchell, Jr. | |
| Name: | Robert J. Mitchell, Jr. | |
| Title: | Vice President | |
| BANK OF MONTREAL | ||
| By: | /s/ Bruno Jarry | |
| Name: | Bruno Jarry | |
| Title: | Director | |
| EXPORT DEVELOPMENT CANADA | ||
| By: | /s/ Matthew Devine | |
| Name: | Matthew Devine | |
| Title: | Asset Manager | |
| By: | /s/ Howard Clysdale | |
| Name: | Howard Clysdale | |
| Title: | Loan Portfolio Manager | |
| RZB FINANCE LLC | ||
| By: | /s/ John A. Valiska | |
| Name: | John A. Valiska | |
| Title: | First Vice President | |
| By: | /s/ Shirley Ritch | |
| Name: | Shirley Ritch | |
| Title: | Assistant Vice President | |
| GOLDMAN SACHS CREDIT PARTNERS, L.P. | ||
| By: | /s/ Jaime Weisfelner | |
| Name: | Jaime Weisfelner | |
| Title: | Authorized Signatory | |
| AGFIRST, FARM CREDIT BANK | ||
| By: | /s/ John W. Burnside, Jr. | |
| Name: | John W. Burnside, Jr. | |
| Title: | Vice President | |
Exhibit B
E XECUTION C OPY
Published CUSIP Number: 10218JAA3
Revolving Credit CUSIP Number: 10218JAB1
CREDIT AGREEMENT
dated as of May 31, 2006
(as amended by that certain First Amendment dated as of July 20, 2007,
that certain Second Amendment dated as of October 31, 2007 and
that certain Third Amendment and Waiver dated as of February 25, 2008)
by and among
BOWATER INCORPORATED,
as Borrower,
the Lenders referred to herein,
WACHOVIA BANK, NATIONAL ASSOCIATION,
as Administrative Agent,
Swingline Lender and Issuing Lender,
JPMORGAN CHASE BANK, N.A. and UBS SECURITIES LLC ,
each as a Syndication Agent,
and
WELLS FARGO FOOTHILL, LLC
as Documentation Agent
WACHOVIA CAPITAL MARKETS, LLC,
as Sole Book Manager
WACHOVIA CAPITAL MARKETS, LLC,
as Lead Arranger
Table of Contents
| Page | ||||
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ARTICLE I DEFINITIONS |
1 | |||
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SECTION 1.1 |
Definitions |
1 | ||
|
SECTION 1.2 |
Other Definitions and Provisions | 33 | ||
|
SECTION 1.3 |
Accounting Terms | 34 | ||
|
SECTION 1.4 |
UCC Terms | 34 | ||
|
SECTION 1.5 |
Rounding | 34 | ||
|
SECTION 1.6 |
References to Agreement and Laws | 34 | ||
|
SECTION 1.7 |
Times of Day | 34 | ||
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SECTION 1.8 |
Letter of Credit Amounts | 34 | ||
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SECTION 1.9 |
Amount of Obligations | 35 | ||
|
ARTICLE II REVOLVING CREDIT FACILITY |
35 | |||
|
SECTION 2.1 |
Revolving Credit Loans | 35 | ||
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SECTION 2.2 |
Swingline Loans | 35 | ||
|
SECTION 2.3 |
Procedure for Advances of Revolving Credit Loans and Swingline Loans | 36 | ||
|
SECTION 2.4 |
Repayment and Prepayment of Revolving Credit and Swingline Loans | 37 | ||
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SECTION 2.5 |
Permanent Reduction of the Commitment | 38 | ||
|
SECTION 2.6 |
Termination of Credit Facility | 39 | ||
|
ARTICLE III LETTER OF CREDIT FACILITY |
39 | |||
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SECTION 3.1 |
L/C Commitment | 39 | ||
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SECTION 3.2 |
Procedure for Issuance of Letters of Credit | 40 | ||
|
SECTION 3.3 |
Commissions and Other Charges | 40 | ||
|
SECTION 3.4 |
L/C Participations | 41 | ||
|
SECTION 3.5 |
Reimbursement Obligation of the Borrower | 42 | ||
|
SECTION 3.6 |
Obligations Absolute | 42 | ||
|
SECTION 3.7 |
Effect of Letter of Credit Application | 43 | ||
|
ARTICLE IV GENERAL LOAN PROVISIONS |
43 | |||
|
SECTION 4.1 |
Interest | 43 | ||
|
SECTION 4.2 |
Notice and Manner of Conversion or Continuation of Loans | 45 | ||
|
SECTION 4.3 |
Fees | 45 | ||
|
SECTION 4.4 |
Manner of Payment | 45 | ||
|
SECTION 4.5 |
Evidence of Indebtedness | 46 | ||
|
SECTION 4.6 |
Adjustments | 47 | ||
|
SECTION 4.7 |
Nature of Obligations of Lenders Regarding Extensions of Credit; Assumption by the Administrative Agent | 47 | ||
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SECTION 4.8 |
Changed Circumstances | 48 | ||
|
SECTION 4.9 |
Indemnity | 49 | ||
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SECTION 4.10 |
Increased Costs | 49 | ||
|
SECTION 4.11 |
Taxes | 50 | ||
|
SECTION 4.12 |
Mitigation Obligations; Replacement of Lenders | 52 | ||
|
SECTION 4.13 |
Security | 54 | ||
|
SECTION 4.14 |
Additional Subsidiary Borrowers | 54 | ||
|
SECTION 4.15 |
Nature of Obligations; Bankruptcy Limitations; Agreement for Contribution | 55 | ||
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ARTICLE V CLOSING; CONDITIONS OF CLOSING AND BORROWING |
57 | |||
|
SECTION 5.1 |
Closing | 57 | ||
|
SECTION 5.2 |
Conditions to Closing and Initial Extensions of Credit | 57 | ||
|
SECTION 5.3 |
Conditions to All Extensions of Credit | 61 | ||
|
SECTION 5.4 |
Post-Closing Conditions | 61 | ||
|
ARTICLE VI REPRESENTATIONS AND WARRANTIES OF THE BORROWER |
63 | |||
|
SECTION 6.1 |
Representations and Warranties | 63 | ||
|
SECTION 6.2 |
Survival of Representations and Warranties, Etc | 70 | ||
| ARTICLE VII FINANCIAL INFORMATION AND NOTICES | 70 | |||
|
SECTION 7.1 |
Financial Statements and Projections | 71 | ||
|
SECTION 7.2 |
Officer’s Compliance Certificate | 72 | ||
|
SECTION 7.3 |
Accountants’ Certificate | 72 | ||
|
SECTION 7.4 |
Other Reports | 72 | ||
|
SECTION 7.5 |
Notice of Litigation and Other Matters | 73 | ||
|
SECTION 7.6 |
Accuracy of Information | 74 | ||
|
ARTICLE VIII AFFIRMATIVE COVENANTS |
74 | |||
|
SECTION 8.1 |
Preservation of Corporate Existence and Related Matters | 74 | ||
|
SECTION 8.2 |
Maintenance of Property; Reinvestment | 74 | ||
|
SECTION 8.3 |
Insurance | 76 | ||
|
SECTION 8.4 |
Accounting Methods and Financial Records | 76 | ||
|
SECTION 8.5 |
Payment of Taxes | 76 | ||
|
SECTION 8.6 |
Compliance With Laws and Approvals | 76 | ||
|
SECTION 8.7 |
Environmental Laws | 76 | ||
|
SECTION 8.8 |
Compliance with ERISA | 77 | ||
|
SECTION 8.9 |
Visits and Inspections | 77 | ||
|
SECTION 8.10 |
Additional Subsidiaries | 77 | ||
|
SECTION 8.11 |
Use of Proceeds | 81 | ||
|
SECTION 8.12 |
Requirements Regarding Certain Permitted Indebtedness | 81 | ||
|
SECTION 8.13 |
Further Assurances | 82 | ||
|
ARTICLE IX FINANCIAL COVENANTS |
82 | |||
|
SECTION 9.1 |
Consolidated Senior Secured Leverage Ratio | 82 | ||
|
SECTION 9.2 |
Interest Coverage Ratio | 83 | ||
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ARTICLE X NEGATIVE COVENANTS |
83 | |||
|
SECTION 10.1 |
Limitations on Indebtedness | 83 | ||
|
SECTION 10.2 |
Limitations on Liens | 87 | ||
|
SECTION 10.3 |
Limitations on Loans, Advances, Investments and Acquisitions | 89 | ||
|
SECTION 10.4 |
Limitations on Mergers and Liquidation | 90 | ||
|
SECTION 10.5 |
Limitations on Asset Dispositions | 91 | ||
|
SECTION 10.6 |
Limitations on Dividends and Distributions | 92 | ||
|
SECTION 10.7 |
Limitations on Exchange and Issuance of Capital Stock | 94 | ||
|
SECTION 10.8 |
Transactions with Affiliates | 94 | ||
|
SECTION 10.9 |
Certain Accounting Changes; Organizational Documents | 94 | ||
|
SECTION 10.10 |
Amendments; Payments and Prepayments of Indebtedness | 95 | ||
|
SECTION 10.11 |
Restrictive Agreements | 96 | ||
|
SECTION 10.12 |
Nature of Business | 97 | ||
|
SECTION 10.13 |
Borrower Jurisdiction | 97 | ||
|
SECTION 10.14 |
Impairment of Security Interests | 97 | ||
|
ARTICLE XI DEFAULT AND REMEDIES |
97 | |||
|
SECTION 11.1 |
Events of Default | 97 | ||
|
SECTION 11.2 |
Remedies | 102 | ||
|
SECTION 11.3 |
Rights and Remedies Cumulative; Non-Waiver; etc | 103 | ||
|
SECTION 11.4 |
Crediting of Payments and Proceeds | 104 | ||
|
SECTION 11.5 |
Administrative Agent May File Proofs of Claim | 104 | ||
|
ARTICLE XII THE ADMINISTRATIVE AGENT |
105 | |||
|
SECTION 12.1 |
Appointment and Authority | 105 | ||
|
SECTION 12.2 |
Rights as a Lender | 105 | ||
|
SECTION 12.3 |
Exculpatory Provisions | 106 | ||
|
SECTION 12.4 |
Reliance by the Administrative Agent | 106 | ||
|
SECTION 12.5 |
Delegation of Duties | 107 | ||
|
SECTION 12.6 |
Resignation of Administrative Agent | 108 | ||
|
SECTION 12.7 |
Non-Reliance on Administrative Agent and Other Lenders | 109 | ||
|
SECTION 12.8 |
No Other Duties, etc | 109 | ||
|
SECTION 12.9 |
Collateral and Guaranty Matters | 109 | ||
|
ARTICLE XIII MISCELLANEOUS |
110 | |||
|
SECTION 13.1 |
Notices | 110 | ||
|
SECTION 13.2 |
Amendments, Waivers and Consents | 111 | ||
|
SECTION 13.3 |
Expenses; Indemnity | 113 | ||
|
SECTION 13.4 |
Right of Set-off | 114 | ||
|
SECTION 13.5 |
Governing Law | 115 | ||
|
SECTION 13.6 |
Waiver of Jury Trial | 116 | ||
|
SECTION 13.7 |
Reversal of Payments | 116 | ||
|
SECTION 13.8 |
Injunctive Relief; Punitive Damages | |||






