FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (Short Term Facility)
FIRST AMENDMENT
TO SECOND AMENDED AND RESTATED
CREDIT AGREEMENT (Short Term Facility)
This FIRST AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT (Short Term Facility) (this "Amendment") is dated as of August 16, 2002 and entered into by and among Computer Sciences Corporation, a Nevada corporation (the "Company"), as Borrower, the financial institutions (the "Lenders") listed on the signature pages hereof, and Citicorp USA, Inc. ("CUSA"), as administrative agent (the "Agent") for the Lenders, and is made with reference to that certain Second Amended and Restated Credit Agreement (Short Term Facility) dated as of August 16, 2001 (the "Existing Credit Agreement"), by and among the Company, the lenders listed on the signature pages thereof, and the Agent. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Existing Credit Agreement.
RECITALS
WHEREAS, the Company, the Agent and the Lenders desire to amend the Existing Credit Agreement (a) to extend the Commitment Termination Date, as previously extended to August 16, 2002, for an additional period terminating on August 15, 2003 (b) to increase the aggregate amount of the Commitments, as permitted in Section 2.18 of the Existing Credit Agreement by $33,500,000 so that the aggregate amount of the Commitments is $350,000,000, and (c) to modify certain other provisions.
NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:
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Section 1. AMENDMENTS TO THE EXISTING CREDIT AGREEMENT |
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1.1 |
Amendments to Article I: Definitions and Accounting Terms |
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A. Section 1.01 of the Existing Credit Agreement is hereby amended by |
deleting, in the definition of "Commitment Termination Date," the date "August 17, 2001" and substituting in lieu thereof the date "August 15, 2003." |
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B. Section 1.01 of the Existing Credit Agreement is hereby further |
amended by adding in the definition of "Daily Margin," the following at the end of such definition: |
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"Notwithstanding anything to the contrary set forth in this definition, if the Term Loans are made, the Daily Margin for all Advances comprising the Term Loans shall be the rate per annum for the applicable Level in the third column above (Daily Margin when Utilization Ratio is greater than 0.65:1.00) plus 0.25%." |
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1.2 |
Amendments to Schedules |
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A. Schedule I to the Existing Credit Agreement is hereby amended by |
deleting said Schedule I in its entirety and substituting in place thereof a new Schedule I in the form of Annex I to this Amendment. |
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B. Schedule III to the Existing Credit Agreement is hereby amended by |
deleting said Schedule III in its entirety and substituting in place thereof a new Schedule III in the form of Annex II to this Amendment. |
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Section 2. CONDITIONS TO EFFECTIVENESS |
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This Amendment shall become effective upon receipt by the Agent of all |
of the following , in form and substance satisfactory to the Agent and the Lenders (the date of satisfaction of such condition being referred to herein as the "First Amendment Effective Date"): |
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A. Documents. On or before the First Amendment Effective Date, |
Company shall deliver to the Lenders (or to Agent for the Lenders with sufficient originally executed copies, where appropriate, for each Lender and its counsel a certificate of a Secretary or an Assistant Secretary of the Company, dated the First Amendment Effective Date, certifying (a) the correctness and completeness of the copies of the Company's Certificate of Incorporation and Bylaws previously delivered to the Agent, (b) the names and true signatures of the officers of the Company authorized to sign this Amendment and the other documents to be delivered by the Company hereunder, and (c) the correctness and completeness of the copies of the resolutions of the Board of Directors of the Company previously delivered to the Agent. |
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B. Execution of Amendment. This Amendment executed by each party |
hereto. |
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C. Legal Opinion. A favorable opinion of Xxxxxxx X. Xxxx, Esq., General |
Counsel of the Company, substantially in the form of Exhibit 1 hereto. |
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D. Absence of Indebtedness; Payment of Fees. Evidence satisfactory to |
the Agent of (i) the absence of any indebtedness of the Company under the Existing Credit Agreement (including borrowings and accrued interest) and (ii) the payment of fees payable, if any, by the Company under the Existing Credit Agreement. |
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Section 3. THE COMPANY'S REPRESENTATIONS AND WARRANTIES |
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In order to induce the Agent and the Lenders to enter into this Amendment and |
to amend the Existing Credit Agreement as described herein, the Company represents and warrants to the Agent and each Lender that the following statements are true, correct and complete on and as of the First Amendment Effective Date: |
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A. Due Authorization, etc. The execution, delivery and performance by the |
Company of this Amendment and the Existing Agreement, as amended by this Amendment |
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(the "Amended Agreement"), are within the Company's corporate powers, have been duly authorized by all necessary corporate action, and do not contravene (i) the Company's certificate of incorporation or bylaws or (ii) law or any material contractual restriction binding on or affecting the Company. |
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B. Governmental Consent. No authorization or approval or other action by, |
and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by the Company of this Amendment or the Amended Agreement. |
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C. Validity. This Amendment has been duly executed and delivered by the |
Company, and each of this Amendment and the Amended Agreement is the legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, arrangement, moratorium and other similar laws affecting creditors' rights generally and to the application of general principles of equity. |
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D. Incorporation of Representations and Warranties From the Existing |
Credit Agreement. The representations and warranties contained in Section 4.01 of the Existing Credit Agreement are true, correct and complete in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date. |
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E. Absence of Default. No event has occurred and is continuing or will |
result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Potential Event of Default. |
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Section 4. MISCELLANEOUS |
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A. Effect of this Amendment. The execution, delivery and performance of |
this Amendment shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Agent or any Lender under, the Amended Agreement. |
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B. Headings. Section and subsection headings in this Amendment are |
included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. |
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C. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND |
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. |
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D. Counterparts; Effectiveness. This Amendment may be executed in any |
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts |
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together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. This Amendment (other than Section 1 hereof, the effectiveness of which is governed by Section 2 hereof) shall become effective upon the execution of a counterpart hereof by the Company, the Lenders, and the Agent and receipt by the Agent of written or telephonic notification of such execution and authorization of delivery thereof. |
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.
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COMPUTER SCIENCES CORPORATION, a Nevada corporation |
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By /s/ Xxxx X. Level |
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Name: Xxxx X. Level |
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Title: Vice President and Chief Financial Officer |
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CITICORP USA, INC. (As Agent and a Lender) |
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By /s/ Xxxxxxx Xxxxxxx |
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Name: Xxxxxxx Xxxxxxx |
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Title: Vice President |
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MELLON BANK N.A. (As a Lender) |
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By /s/ Xxxxxxxx X. Xxxx |
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Name: Xxxxxxxx X. Xxxx |
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Title: First Vice President |
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WACHOVIA BANK, NATIONAL ASSOCIATION formerly known as FIRST UNION NATIONAL BANK |
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By /s/ Xxxx X. Xxxxxx |
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Name: Xxxx X. Xxxxxx |
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Title: Director |
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THE BANK OF NOVA SCOTIA (As a Lender) |
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By /s/ Xx Xxxxxx |
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Name: Xx Xxxxxx |
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Title: Director |
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THE BANK OF NEW YORK (As a Lender) |
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By /s/ Xxxxxxx Xxxxxxx |
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Name: Xxxxxxx Xxxxxxx |
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Title: Vice President |
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XXXXX FARGO BANK, N.A. (As a Lender) |
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By /s/ Xxxx Xxxxx |
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Name: Xxxx Xxxxx |
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Title: Vice President |
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THE ROYAL BANK OF SCOTLAND, Plc |
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By /s/ Xxxxxx Xxxxx |
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Name: Xxxxxx Xxxxx |
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Title: Senior Vice President |
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STANDARD CHARTERED BANK |
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By /s/ Xxxxxx Xxxxxxx |
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Name: Xxxxxx Xxxxxxx |
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Title: Vice President |
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By /s/ Xxxxxx Xxxxxxxxxx |
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Name: Xxxxxx Xxxxxxxxxx |
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Title: AVP/Credit Documentation |
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JPMORGAN CHASE BANK |
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By /s/ Xxxxxxx X. Xxxxxxxx |
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Name: Xxxxxxx X. Xxxxxxxx |
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Title: Vice President |
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THE NORTHERN TRUST COMPANY |
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By /s/ Xxxx Xxxxxx |
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Name: Xxxx Xxxxxx |
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Title: Second Vice President |
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DANSKE BANK A/S |
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By /s/ Xxxxxxx X. Xxxxxxxx |
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Name: Xxxxxxx X. Xxxxxxxx |
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Title: Vice President |
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By /s/ Xxxx X. X'Xxxxx |
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Name: Xxxx X. X'Xxxxx |
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Title: Assistant General Manager |
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SUMITOMO MITSUI BANKING CORPORATION (As a Lender) |
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By /s/ Xxxx Xxxxxxx |
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Name: Xxxx Xxxxxxx |
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Title: Vice President and Manager |
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BANCA NAZIONALE DEL LAVORO S.p.A. |
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By /s/ Xxxx X. Xxxxxx |
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Name: Xxxx X. Xxxxxx |
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Title: Vice President |
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By /s/ Xxxxxxxx Xxxxxxxxx |
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Name: Xxxxxxxx Xxxxxxxxx |
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Title: First Vice President |
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The undersigned hereby agrees to be party to the Second Amended and Restated Credit Agreement dated as of August 16, 2001, as amended by this Amendment.
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BANK OF TOKYO-MITSUBISHI, LTD. |
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By /s/ Junji Ban |
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Name: Junji Ban |
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Title: General Manager |
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The undersigned hereby agrees to be party to the Second Amended and Restated Credit Agreement dated as of August 16, 2001, as amended by this Amendment.
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KEY CORPORATE CAPITAL, INC. |
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By /s/ Xxxxxx X. Xxxxxxx |
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Name: Xxxxxx X. Xxxxxxx |
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Title: Vice President |
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Computer Sciences Corporation
The Lenders party to the Second Amended and Restated Credit Agreement (Short Term Facility) dated as of August 16, 2002 among Computer Sciences Corporation, the Lenders party thereto, and Citicorp USA, Inc. as Administrative Agent and Xxxxxxx Xxxxx Xxxxxx Inc. as Arranger, August 5, 2002.
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DANSKE BANK A/S |
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By /s/ Xxxxxxx X. Xxxxxxxx |
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Name: Xxxxxxx X. Xxxxxxxx |
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Title: Vice President |
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By /s/ Xxxx X. X'Xxxxx |
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Name: Xxxx X. X'Xxxxx |
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Title: Assistant General Manager |
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The undersigned hereby agrees to be party to the Second Amended and Restated Credit Agreement dated as of August 16, 2001, as amended by this Amendment.
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U.S. BANK, N.A. (As a Lender) |
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By /s/ Xxxxx X. Xxxxxxx |
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Name: Xxxxx X. Xxxxxxx |
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Title: Corporate Banking Office |
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ANNEX I
SCHEDULE I
APPLICABLE LENDING OFFICES
Bank |
Domestic Lending Office |
Eurodollar Lending Office |
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Citicorp USA, Inc. |
Citicorp USA, Inc. |
Citicorp USA, Inc. |
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The Chase Manhattan Bank |
The Chase Manhattan Bank |
The Chase Manhattan Bank |
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Mellon Bank, X.X. |
Xxxxxx Bank, N.A. |
Mellon Bank, N.A. |
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The Bank of New York |
The Bank of New York |
The Bank of New York |
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Danske Bank A/S, Cayman Islands Branch |
Danske Bank, Cayman Islands Branch |
Danske Bank, Cayman Islands Branch |
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Key Corporate Capital, Inc. |
Key Corporate Capital, Inc. |
Key Corporate Capital, Inc. |
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The Bank of Nova Scotia |
The Bank of Nova Scotia |
The Bank of Nova Scotia |
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U.S. Bank, X.X. |
X.X. Bank National Association |
U.S. Bank National Association |
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Xxxxx Fargo Bank |
Xxxxx Fargo Bank |
Xxxxx Fargo Bank |
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First Union National Bank |
First Union National Bank |
First Union National Bank |
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Northern Trust Company |
Northern Trust Company |
Northern Trust Company |
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The Royal Bank of Scotland Plc |
The Royal Bank of Scotland Plc |
The Royal Bank of Scotland Plc |
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Banca Nazionale del Lavoro |
Banca Nazionale del Lavoro S.p.A. |
Banca Nazionale del Lavoro S.p.A. |
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The Bank of Tokyo-Mitsubishi, Ltd. |
The Bank of Tokyo-Mitsubishi, Ltd. Portland Branch |
The Bank of Tokyo-Mitsubishi, Ltd. Portland Branch |
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Standard Chartered Bank |
Standard Chartered Bank |
Standard Chartered Bank |
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Sumitomo Mitsui Banking Corporation |
Sumitomo Mitsui Banking Corporation |
Sumitomo Mitsui Banking Corporation |
ANNEX II
SCHEDULE III
LENDER'S COMMITMENTS
Lender |
Commitment |
Citicorp USA, Inc. |
$39,750,000 |
The Chase Manhattan Bank |
$33,750,000 |
Mellon Bank N.A. |
$28,750,000 |
The Bank of New York |
$28,750,000 |
Danske Bank A/S, Cayman Islands Branch |
$25,000,000 |
Key Corporate Capital, Inc. |
$25,000,000 |
The Bank of Nova Scotia |
$25,000,000 |
U.S. Bank, N.A. |
$25,000,000 |
Xxxxx Fargo Bank |
$24,000,000 |
First Union National Bank |
$21,250,000 |
Northern Trust Company |
$15,000,000 |
The Royal Bank of Scotland Plc |
$11,750,000 |
Banco Nationale del Lavoro |
$11,750,000 |
The Bank of Tokyo-Mitsubishi, Ltd. |
$11,750,000 |
Standard Chartered Bank |
$11,750,000 |
Sumitomo Mitsui Banking Corporation |
$11,750,000 |
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