U.S. $1,000,000,000 CREDIT AGREEMENT Dated as of June 25, 2007 among COMPUTER SCIENCES CORPORATION as Borrower and THE BANKS NAMED HEREIN as Banks and BANK OF AMERICA, N.A. as Administrative Agent and BARCLAYS BANK PLC as Syndication Agent and MERRILL...
EXHIBIT
10.26
U.S.
$1,000,000,000
Dated
as
of June 25, 2007
among
COMPUTER
SCIENCES CORPORATION
as
Borrower
and
THE
BANKS NAMED HEREIN
as
Banks
and
BANK
OF AMERICA, N.A.
as
Administrative Agent
and
BARCLAYS
BANK PLC
as
Syndication Agent
and
XXXXXXX
LYNCH, PIERCE, XXXXXX & XXXXX INCORPORATED
as
Senior Managing Agent
and
BANC
OF AMERICA SECURITIES LLC
BARCLAYS
CAPITAL
as
Joint Lead Arrangers
BANC
OF AMERICA SECURITIES LLC
BARCLAYS
CAPITAL
XXXXXXX
LYNCH, PIERCE, XXXXXX & XXXXX INCORPORATED
as
Joint Bookrunners
TABLE
OF CONTENTS
Page
|
||||
ARTICLE
I DEFINITIONS
AND ACCOUNTING TERMS
|
1
|
|||
Section
1.01
|
Certain
Defined Terms
|
1
|
||
Section
1.02
|
Computation
of Time Periods
|
11
|
||
Section
1.03
|
Accounting
Terms
|
11
|
||
ARTICLE
II AMOUNTS
AND TERMS OF THE ADVANCES
|
12
|
|||
Section
2.01
|
The
Advances
|
12
|
||
Section
2.02
|
Making
the Advances
|
12
|
||
Section
2.03
|
Fees
|
14
|
||
Section
2.04
|
Optional
Reduction of the Commitments
|
14
|
||
Section
2.05
|
Repayment
and Prepayment of Advances
|
15
|
||
Section
2.06
|
Interest
on Advances
|
16
|
||
Section
2.07
|
Interest
Rate Determination
|
17
|
||
Section
2.08
|
Voluntary
Conversion or Continuation of Advances
|
17
|
||
Section
2.09
|
Increased
Costs
|
18
|
||
Section
2.10
|
Compensation
for Losses
|
19
|
||
Section
2.11
|
Payments
and Computations
|
19
|
||
Section
2.12
|
Taxes
|
20
|
||
Section
2.13
|
Sharing
of Payments, Etc.
|
23
|
||
Section
2.14
|
Evidence
of Debt
|
23
|
||
Section
2.15
|
Use
of Proceeds
|
24
|
||
Section
2.16
|
Replacement
of Lenders
|
24
|
||
Section
2.17
|
Special
Purpose Funding Vehicles
|
25
|
||
Section
2.18
|
Obligations
of Lenders Several
|
25
|
||
ARTICLE
III CONDITIONS
OF LENDING
|
25
|
|||
Section
3.01
|
Condition
Precedent to Closing Date
|
25
|
||
Section
3.02
|
Conditions
Precedent to Each Borrowing
|
26
|
||
ARTICLE
IV REPRESENTATIONS
AND WARRANTIES
|
27
|
|||
Section
4.01
|
Representations
and Warranties of the Borrower
|
27
|
||
ARTICLE
V COVENANTS
|
31
|
|||
Section
5.01
|
Affirmative
Covenants of the Borrower
|
31
|
i
TABLE
OF CONTENTS
(continued)
Page
|
||||
Section
5.02
|
Negative
Covenants of the Borrower
|
33
|
||
Section
5.03
|
Borrower
Materials
|
35
|
||
ARTICLE
VI EVENTS
OF DEFAULT
|
36
|
|||
Section
6.01
|
Events
of Default
|
36
|
||
ARTICLE
VII THE
AGENT
|
39
|
|||
Section
7.01
|
Appointment
and Authority
|
39
|
||
Section
7.02
|
Rights
as a Lender
|
39
|
||
Section
7.03
|
Exculpatory
Provisions
|
39
|
||
Section
7.04
|
Reliance
by Agent
|
40
|
||
Section
7.05
|
Delegation
of Duties
|
40
|
||
Section
7.06
|
Resignation
of Agent
|
40
|
||
Section
7.07
|
Non-Reliance
on Agent and Other Lenders
|
41
|
||
Section
7.08
|
No
Other Duties, Etc.
|
41
|
||
ARTICLE
VIII MISCELLANEOUS
|
41
|
|||
Section
8.01
|
Amendments,
Etc.
|
41
|
||
Section
8.02
|
Notices,
Etc.
|
42
|
||
Section
8.03
|
No
Waiver; Remedies
|
44
|
||
Section
8.04
|
Expenses;
Indemnity; Damage Waiver
|
45
|
||
Section
8.05
|
Right
of Set-off
|
46
|
||
Section
8.06
|
Binding
Effect
|
46
|
||
Section
8.07
|
Assignments
and Participations
|
47
|
||
Section
8.08
|
Governing
Law
|
49
|
||
Section
8.09
|
Execution
in Counterparts
|
49
|
||
Section
8.10
|
Consent
to Jurisdiction; Waiver of Immunities
|
49
|
||
Section
8.11
|
Waiver
of Trial by Jury
|
50
|
||
Section
8.12
|
Survival
of Representations and Warranties
|
50
|
||
Section
8.13
|
Severability
|
50
|
||
Section
8.14
|
Headings
|
50
|
||
Section
8.15
|
USA
PATRIOT Act Notice
|
50
|
||
Section
8.16
|
Treatment
of Certain Information; Confidentiality
|
50
|
ii
TABLE
OF CONTENTS
(continued)
Page
|
||
SCHEDULES
|
||
Schedule
I
|
List
of Applicable Lending Offices
|
I-1
|
Schedule
II
|
Lenders’
Commitments
|
II-1
|
EXHIBITS
|
||
Exhibit
A
|
Form
of Notice of Borrowing
|
A-1
|
Exhibit
B
|
Form
of Assignment and Assumption
|
B-1
|
Exhibit
C
|
Form
of Opinion of Xxxxxx X. Xxxx, Esq., Counsel for the
Borrower
|
C-1
|
iii
Dated
as
of June 25, 2007
This
CREDIT AGREEMENT is entered into as of June 25, 2007, among Computer Sciences
Corporation, a Nevada corporation (the “Borrower”), the financial
institutions (the “Banks”) listed on Schedule II hereto, Bank of America,
N.A. (“Bank of America”), as administrative agent (the “Agent”)
for the Lenders hereunder, Barclays Bank PLC (“Barclays”), as syndication
agent for the Lenders hereunder, and Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx
Incorporated, as senior managing agent for the Lenders hereunder.
In
consideration of the premises and the agreements, provisions and covenants
herein contained, the Borrower, the Lenders and the Agent agree as
follows:
ARTICLE
I
DEFINITIONS
AND ACCOUNTING TERMS
Section
1.01 Certain
Defined Terms. As used in this Agreement, the following
terms shall have the following meanings (such meanings to be equally applicable
to both the singular and plural forms of the terms defined):
“Acquisition”
means the transactions contemplated by the Acquisition Agreement.
“Acquisition
Agreement” means that certain Agreement and Plan of Merger, dated as of
April 25, 2007, by and among the Borrower, Surfside Acquisition Corp., a
Michigan corporation and wholly-owned subsidiary of the Borrower, and Covansys
Corporation, a Michigan corporation, in the form delivered to the Agent and
the
Lenders prior to their execution of this Agreement and as such agreement may
be
amended from time to time thereafter to the extent permitted under subsection
5.02(d).
“Acquisition
Financing Requirements” means the aggregate of all amounts necessary
(a) to finance the purchase price payable in connection with the
Acquisition and (b) to pay Transaction Costs.
“Act”
has the meaning specified in Section 8.15.
“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by
the Agent.
“Advance”
means an advance by a Lender to the Borrower as part of a Borrowing and refers
to a Base Rate Advance or a Eurodollar Rate Advance, each of which shall be
a
“Type” of Advance.
“Affiliate”
means, as to any Person, any other Person that, directly or indirectly,
controls, is controlled by or is under common control with such Person or is
a
director or executive officer (as such term is used in Regulation S-K
promulgated under the Securities Act of 1933, as amended) of such
Person.
1
“Agent”
means Bank of America, N.A., in its capacity as administrative agent under
this
Agreement, or any successor administrative agent.
“Agent
Parties” has the meaning specified in Section 8.02(c).
“Agent’s
Office” means the Agent’s address as set forth on Schedule 1 hereto or such
other address as the Agent may from time to time notify to the Borrower and
the
Lenders.
“Aggregate Commitments” means the Commitments of all
the Lenders.
“Agreement” means this Credit Agreement, as this
Credit Agreement may be amended, supplemented or otherwise modified from
time to
time.
“Applicable Lending Office” means, with respect to
each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate
Advance, and such Lender’s Eurodollar Lending Office in the case of a Eurodollar
Rate Advance.
“Applicable Margin” means, for any period for which
any interest payment is to be made, the sum of (a) (i) with respect to any
Base
Rate Advance, a rate of 0.00% per annum, and (ii) with respect to any Eurodollar
Rate Advance, a rate of 0.20% per annum, plus (b) a utilization fee for
each day on which the aggregate outstanding principal amount of all Advances
exceeds 50% of the Aggregate Commitments in effect as of such date in an
amount
equal to 0.050% per annum on the amount of the aggregate outstanding principal
amount of all Advances outstanding on such day.
“Applicable Percentage” means, with respect to any
Lender at any time, the percentage (carried out to the ninth decimal place)
of
the Aggregate Commitments represented by such Lender’s Commitment at such
time. If the commitment of each Lender to extend Advances has been
terminated pursuant to Section 6.01 or if the Aggregate Commitments have
expired, then the Applicable Percentage of each Lender shall be determined
based
on the Applicable Percentage of such Lender most recently in effect, giving
effect to any subsequent assignments. The initial Applicable
Percentage of each Lender is set forth opposite the name of such Lender on
Schedule 1 hereto or in the Assignment and Assumption Agreement pursuant
to
which such Lender becomes a party hereto, as applicable.
“Approved Fund” means any Fund that is administered or
managed by (a) a Lender, (b) an Affiliate of a Lender, or (c) an entity or
an
Affiliate of an entity that administers or manages a Lender.
“Assignee Group” means two or more Eligible Assignees
that are Affiliates of one another or two or more Approved Funds managed
by the
same investment advisor.
“Assignment and Assumption” means an assignment and
assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section 8.07(b)), and accepted
by the
Agent, in substantially the form of Exhibit B hereto or any other form approved
by the Agent.
2
“Bank
of America” means Bank of America, N.A.
“Banks”
means the Banks listed on Schedule II hereto.
“Base
Rate” means, for any day a fluctuating rate per annum equal to the higher of
(a) the Federal Funds Rate plus 1/2 of 1%, and (b) the rate of interest
in effect for such day as publicly announced from time to time by Bank of
America as its “prime rate.” The “prime rate” is a rate set by Bank
of America based upon various factors including Bank of America’s costs and
desired return, general economic conditions and other factors, and is used
as a
reference point for pricing some loans, which may be priced at, above, or
below
such announced rate. Any change in such rate announced by Bank of
America shall take effect at the opening of business on the day specified
in the
public announcement of such change.
“Base
Rate Advance” means an Advance which bears interest as provided in
Section 2.06(a).
“Borrower”
means Computer Sciences Corporation, a Nevada corporation.
“Borrower
Materials” has the meaning specified in Section 5.03.
“Borrowing”
means a borrowing consisting of Advances of the same Type made on the same
day
to the Borrower pursuant to the same Notice of Borrowing by each of the Lenders
pursuant to Section 2.01.
“Business
Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the laws of, or are in fact
closed in, the state where the Agent's Office is located and, if such day
relates to a Eurodollar Rate Advance, means any such day on which dealings
in
Dollar deposits are conducted by and between banks in the London interbank
Eurodollar market.
“Capital
Lease” means, with respect to any Person, any lease of any property by that
Person as lessee which would, in conformity with GAAP, be required to be
accounted for as a capital lease on the balance sheet of that
Person.
“Closing
Date” means June 25, 2007.
“Code”
means the Internal Revenue Code of 1986, as amended.
“Commercial
Paper” means commercial paper issued by the Borrower from time to
time.
“Commitment”
has the meaning specified in Section 2.01.
“Commitment
Termination Date” means, with respect to any Lender, June 24,
2008.
3
“Consolidated
EBITDA” means, for any period, the sum of (a) net income, plus
(b) taxes on income, plus (c) Consolidated Interest Expense,
plus (d) depreciation expense, plus (e) amortization
expense of goodwill, financing costs and other intangibles, plus
(f) extraordinary losses, plus (g) other non-cash charges to
the extent deducted from net income, plus (h) Transaction Costs,
minus extraordinary gains.
“Consolidated
Interest Expense” means, for any period, total interest expense (including
that portion attributable to Capital Leases in accordance with GAAP and
capitalized interest) of the Borrower and its Subsidiaries on a consolidated
basis with respect to all outstanding Debt of the Borrower and its Subsidiaries,
including all commissions, discounts and other fees and charges owed with
respect to letters of credit and bankers’ acceptance financing, net costs under
Interest Rate Agreements, and amounts referred to in Section 2.03 payable
to the Agent and the Lenders that are considered interest expense in accordance
with GAAP, but excluding, however, any such amounts referred to in
Section 2.03 payable on or before the Closing Date.
“Consolidated
Total Debt” means, as of any date of determination, all Debt (excluding
Equity-linked Debt) of the Borrower and its Subsidiaries on a consolidated
basis.
“Convert,”
“Conversion” and “Converted” each refers to a conversion of
Advances of one Type into Advances of another Type pursuant to
Section 2.08.
“Debt”
means, with respect to any Person, (a) indebtedness of such Person for
borrowed money, (b) obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments, and (c) obligations of such
Person as lessee under Capital Leases; provided that “Debt” shall not
include borrowings against the cash surrender value of life insurance policies
covering employees of the Borrower or its Affiliates and owned by the Borrower
so long as (i) recourse for such borrowings is limited to such policies and
the proceeds thereof and (ii) any value assigned to such policies on the
consolidated financial statements of the Borrower and its Subsidiaries is net
of
the amount of such borrowings.
“Default”
means any event or condition that constitutes an Event of Default or that,
with
the giving of any notice, the passage of time, or both, would be an Event
of
Default.
“Default
Rate” means an interest rate equal to 2% per annum above the Base Rate in
effect from time to time (plus any Applicable Margin); provided,
however, that with respect to a Eurodollar Rate Advance, the Default
Rate
shall be an interest rate equal to (a) during the Interest Period applicable
to
such Eurodollar Rate Advance which is not paid when due (whether at stated
maturity, by acceleration or otherwise), the greater of (i) 2% per annum above
the Base Rate (plus any Applicable Margin) and (ii) 2% per annum above the
rate
per annum required to be paid on such amount immediately prior to the date
on
which such amount became due (plus any Applicable Margin) and (b) after the
expiration of such Interest Period, 2% per annum above the Base Rate in effect
from time to time (plus any Applicable Margin).
4
“Defaulting
Lender” means any Lender that (a) has failed to fund any portion of such
Lender's Commitment required to be funded by it hereunder within one Business
Day of the date required to be funded by it hereunder unless such failure
has
been cured, (b) has otherwise failed to pay over to the Agent or any other
Lender any other amount required to be paid by it hereunder within one Business
Day of the date when due, unless the subject of a good faith dispute or unless
such failure has been cured, or (c) has been deemed insolvent or become the
subject of a bankruptcy or insolvency proceeding.
“Dollars”
and the sign “$” mean the lawful money of the United
States.
“Domestic
Lending Office” means, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” opposite its name on Schedule I
hereto or in the Assignment and Assumption pursuant to which it became a Lender,
or such other office of such Lender as such Lender may from time to time specify
to the Borrower and the Agent.
“Eligible
Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by
the Agent, and unless an Event of Default has occurred and is
continuing, the Borrower (each such approval not to be unreasonably withheld
or
delayed); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include the Borrower or any of the Borrower's Affiliates or
Subsidiaries.
“Employee
Benefit Plan” means any “employee benefit plan” as defined in Section 3(3)
of ERISA which is or was maintained or contributed to by the Borrower, its
Subsidiaries or any of its ERISA Affiliates.
“Environmental
Law” means any and all statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses,
agreements or other governmental restrictions of any federal, state or local
governmental authority within the United States or any State or territory
thereof and which relate to the environment or the release of any materials
into
the environment.
“Equity
Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person; all of
the
warrants, options or other rights for the purchase or acquisition from such
Person of shares of capital stock of (or other ownership or profit interests
in)
such Person; all of the securities convertible into or exchangeable for shares
of capital stock of (or other ownership or profit interests in) such Person
or
warrants, options or rights for the purchase or acquisition from such Person
of
such shares (or such other interests); and all of the other ownership or
profit
interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants,
options, rights or other interests are outstanding on any date of
determination.
“Equity-linked
Debt” means Debt that is required to be converted at, or prior to, maturity
into equity securities of the Borrower.
5
“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from
time
to time, and the regulations promulgated and rulings issued
thereunder.
“ERISA
Affiliate” means any Person who for purposes of Title IV of ERISA is a
member of the Borrower’s controlled group, or under common control with the
Borrower, within the meaning of Section 414 of the Code and the regulations
promulgated and rulings issued thereunder. Any former ERISA Affiliate
of the Borrower or its Subsidiaries shall continue to be considered an ERISA
Affiliate within the meaning of this definition with respect to the period
such
entity was an ERISA Affiliate of the Borrower or its Subsidiaries and with
respect to liabilities arising after such period for which the Borrower or
its
Subsidiaries could be liable under the Code or ERISA.
“ERISA
Event” means (a) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, unless the 30-day notice requirement with
respect thereto has been waived by the PBGC; (b) the provision by the
administrator of any Pension Plan of a notice of intent to terminate such
Pension Plan pursuant to Section 4041(a)(2) of ERISA (including any such
notice with respect to a plan amendment referred to in Section 4041(e) of
ERISA); (c) the cessation of operations at a facility in the circumstances
described in Section 4062(e) of ERISA; (d) the withdrawal by the
Borrower or an ERISA Affiliate from a Multiple Employer Plan during a plan
year
for which it was a substantial employer, as defined in Section 4001(a)(2)
of ERISA; (e) the failure by the Borrower or any ERISA Affiliate to make a
payment to a Pension Plan required under Section 302(f)(1) of ERISA, which
Section imposes a lien for failure to make required payments; (f) the
adoption of an amendment to a Pension Plan requiring the provision of security
to such Pension Plan, pursuant to Section 307 of ERISA; (g) the
institution by the PBGC of proceedings to terminate a Pension Plan, pursuant
to
Section 4042 of ERISA, or the occurrence of any event or condition which,
in the reasonable judgment of the Borrower, might constitute grounds under
Section 4042 of ERISA for the termination of, or the appointment of a
trustee to administer, a Pension Plan; (h) the withdrawal by the Borrower or
any
ERISA Affiliate from any Multiemployer Plan or the termination of such
Multiemployer Plan resulting in liability pursuant to Section 4063 or 4064
of
ERISA; (i) the occurrence of an act or omission which could give rise to the
imposition on the Borrower or any ERISA Affiliate of fines, penalties, taxes
or
related charges under Chapter 43 of the Code or under Sections 409, 502(c),
(i)
or (l) or 4071 of ERISA in respect of any Employee Benefit Plan; (j) the
assertion of a material claim (other than a routine claim for benefits) against
any Employee Benefit Plan other than a Multiemployer Plan or the assets thereof,
or against the Borrower or an ERISA Affiliate in connection with any Employee
Benefit Plan; (k) receipt from the Internal Revenue Service of notice of the
failure of any Pension Plan (or any other Employee Benefit Plan intended to
be
qualified under Section 401(a) of the Code) to qualify under Section 401(a)
of
the Code, or the failure of any trust forming part of any such Pension Plan
or
Employee Benefit Plan to qualify for exemption from taxation under Section
501(a) of the Code; or (l) a determination that any Pension Plan is, or is
expected to be, in “at-risk” status (within the meaning of Section 303(i)(4)(A)
of ERISA or Section 430(i)(4)(A) of the Code).
6
“Eurodollar
Lending Office” means, with respect to any Lender, the office of such Lender
specified as its “Eurodollar Lending Office” opposite its name on Schedule I
hereto or in the Assignment and Assumption pursuant to which it became a Lender
(or, if no such office is specified, its Domestic Lending Office), or such
other
office of such Lender as such Lender may from time to time specify to the
Borrower and the Agent.
“Eurodollar
Rate Advance” means an Advance which bears interest as provided in
Section 2.06(b).
“Eurodollar
Rate” means, for any Interest Period with respect to a Eurodollar Rate
Advance, the rate per annum equal to the British Bankers Association LIBOR
Rate
(“BBA LIBOR”), as published by Reuters (or other commercially available
source providing quotations of BBA LIBOR as designated by the Agent from
time to
time) at approximately 11:00 A.M., London time, two Business Days prior to
the
commencement of such Interest Period, for Dollar deposits (for delivery on
the
first day of such Interest Period) with a term equivalent to such Interest
Period. If such rate is not available at such time for any reason,
then the “Eurodollar Rate” for such Interest Period shall be the rate per annum
determined by the Agent to be the rate at which deposits in Dollars for delivery
on the first day of such Interest Period in same day funds in the approximate
amount of the Eurodollar Rate Advance being made, continued or converted
by Bank
of America and with a term equivalent to such Interest Period would be offered
by Bank of America’s London branch to major banks in the London interbank
Eurodollar market at their request at approximately 11:00 A.M. (London time)
two
Business Days prior to the commencement of such Interest Period.
“Events
of Default” has the meaning specified in Section 6.01.
“Excluded
Taxes” has the meaning specified in Section 2.12.
“Federal
Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members
of the
Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; provided that (a) if such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions
on
the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Rate for such day shall be the average rate (rounded
upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank
of
America on such day on such transactions as determined by the
Agent.
“Foreign
Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the Borrower is resident for tax
purposes. For purposes of this definition, the United States, each
State thereof and the District of Columbia shall be deemed to constitute
a
single jurisdiction.
“Fund”
means any Person (other than a natural person) that is (or will be) engaged
in
making, purchasing, holding or otherwise investing in commercial loans
and
similar extensions of credit in the ordinary course of its
activities.
7
“GAAP”
means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute
of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity
as
may be approved by a significant segment of the accounting profession, which
are
applicable to the circumstances as of the date of determination.
“Granting
Lender” has the meaning specified in Section 2.17.
“Indemnified
Taxes” has the meaning specified in Section 2.12.
“Indemnitee”
has the meaning specified in Section 8.04(b).
“Information”
has the meaning specified in Section 8.16.
“Interest
Period” means, for
each Eurodollar Rate Advance comprising part of the same Borrowing, the period
commencing on the date of such Eurodollar Rate Advance, or on the date of
continuation of such Advance as a Eurodollar Rate Advance upon expiration of
successive Interest Periods applicable thereto, or on the date of Conversion
of
a Base Rate Advance into a Eurodollar Rate Advance, and ending on the last
day
of the period selected by the Borrower pursuant to the provisions
below. The duration of each such Interest Period shall be one, two,
three or six months, or, if available from all Lenders, nine months, as the
Borrower may select in the Notice of Borrowing or the Notice of
Conversion/Continuation for such Advance; provided, however,
that:
(a) the
Borrower may not select any Interest Period which ends after
the earliest Commitment Termination Date of any Lender then in
effect;
(b) Interest
Periods commencing on the same date for Advances comprising part of the same
Borrowing shall be of the same duration; and
(c) whenever
the last day of any Interest Period would otherwise occur on a day other than
a
Business Day, the last day of such Interest Period shall be extended to occur
on
the next succeeding Business Day, provided, that if such extension would
cause the last day of such Interest Period to occur in the next following
calendar month, the last day of such Interest Period shall occur on the next
preceding Business Day.
“Interest
Rate Agreement” means any interest rate swap agreement, interest rate cap
agreement, interest rate collar agreement or other similar agreement or
arrangement to which the Borrower or any of its Subsidiaries is a
party.
“Joint
Bookrunners” means Banc of America Securities LLC, Barclays Capital and
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated.
8
“Joint
Lead Arrangers” means Banc of America Securities LLC and Barclays
Capital.
“Lenders”
means the Banks listed on Schedule II hereto and each Eligible Assignee that
shall become a party hereto pursuant to Section 8.07.
“Lien”
means any lien, mortgage, pledge, security interest, charge or encumbrance
of
any kind (including any conditional sale or other title retention agreement
and
any lease in the nature thereof).
“Long
Term Credit Agreement” means that certain Credit Agreement entered into as
of August 23, 2006, among the Borrower, as borrower, the financial institutions
listed on Schedule II thereof and Citicorp USA, Inc., as administrative agent
for the lenders thereunder, including any related notes, guarantees, instruments
and agreements executed in connection therewith, and in each case as amended,
restated, modified, renewed, refunded, replaced (whether upon or after
termination or otherwise) or refinanced from time to time (including any
increase in principal amount whether or not with the same lenders or
agents).
“Long-Term
Debt” means senior, unsecured, non-credit enhanced, long-term debt
securities of the Borrower.
“Majority
Lenders” means at any time Lenders holding more than 50% of the then
aggregate unpaid principal amount of the Advances held by Lenders, or, if no
such principal amount is then outstanding, Lenders having more than 50% of
the
Commitments (provided that, for purposes hereof, neither the Borrower,
nor any of its Affiliates, if a Lender, shall be included in (a) the
Lenders holding such amount of the Advances or having such amount of the
Commitments or (b) determining the aggregate unpaid principal amount of the
Advances or the total Commitments).
“Moody’s”
means Xxxxx’x Investors Service, Inc.
“Multiemployer
Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of
ERISA to which the Borrower or any ERISA Affiliate of the Borrower is making,
or
is obligated to make, contributions or has within any of the preceding six
plan
years been obligated to make or accrue contributions.
“Multiple
Employer Plan” means a single employer plan, as defined in
Section 4001(a)(15) of ERISA, which (a) is maintained for employees of
the Borrower or an ERISA Affiliate and at least one Person other than the
Borrower and its ERISA Affiliates or (b) was so maintained and in respect
of which the Borrower or an ERISA Affiliate could have liability under
Section 4063, 4064 or 4069 of ERISA in the event such plan has been or
were to be terminated.
“Net
Cash Proceeds” means with respect to any capital contribution to the
Borrower by any holder of Equity Interests thereof, the issuance or sale of
any
Equity Interests by the Borrower or any of its Subsidiaries or the issuance
of
any Debt by the Borrower or any of its Subsidiaries, the excess of (a) the
sum
of the cash and cash equivalents received in connection with such sale or
issuance over (b) the underwriting discounts and commissions and other
out-of-pocket expenses incurred by the Borrower or such Subsidiary (but solely
to the extent such underwriting discounts and commissions and other
out-of-pocket expenses are payable to Persons that are not Affiliates of the
Borrower) in connection with such contribution, issuance or sale.
9
“Notice
of Borrowing” has the meaning specified in
Section 2.02(a).
“Notice
of Conversion/Continuation” has the meaning specified in
Section 2.08.
“Other
Taxes” has the meaning specified in Section 2.12.
“Participant”
has the meaning specified in Section 8.07(d).
“PBGC”
means the U.S. Pension Benefit Guaranty Corporation.
“Pension
Plan” means a Single Employer Plan or a Multiple Employer Plan or
both.
“Person”
means an individual, partnership, corporation, business trust, joint stock
company, trust, unincorporated association, joint venture or other entity,
or a
government or any political subdivision or agency thereof.
“Platform”
has the meaning specified in Section 5.03.
“Public
Lender” has the meaning specified in Section 5.03.
“Rating”
means as of any date, the public rating that has been most recently announced
by
any of S&P or Moody’s, as the case may be, with respect to the Long-Term
Debt, or if any such rating agency shall have issued more than one such public
rating, the lowest such public rating issued by such rating agency.
“Register”
has the meaning specified in Section 8.07(c).
“Related
Parties” means, with respect to any
Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents and advisors of such Person and of such Person’s
Affiliates.
“Responsible
Officer” means the chief executive officer, president, chief financial
officer, treasurer or assistant treasurer of the Borrower. Any
document delivered hereunder that is signed by a Responsible Officer of the
Borrower shall be conclusively presumed to have been authorized by all necessary
corporate action on the part of the Borrower and such Responsible Officer
shall
be conclusively presumed to have acted on behalf of the Borrower.
“S&P”
means Standard & Poor’s Ratings Group.
10
“SEC”
means the Securities and Exchange Commission and any successor
agency.
“Significant
Subsidiary” means, at any time, any Subsidiary of the Borrower which
accounts for more than 5% of consolidated total assets or 5% of consolidated
revenue of the Borrower and its Subsidiaries determined in accordance with
GAAP.
“Single
Employer Plan” means a single employer plan, as defined in
Section 4001(a)(15) of ERISA, which (a) is maintained for employees of
the Borrower or any ERISA Affiliate and no Person other than the Borrower and
its ERISA Affiliates or (b) was so maintained and in respect of which the
Borrower or an ERISA Affiliate could have liability under Section 4062 or
4069 of ERISA in the event such plan has been or were to be
terminated.
“SPC”
has the meaning specified in Section 2.17.
“Subsidiary”
of any Person means any corporation, association, partnership or other business
entity of which at least 50% of the total voting power of shares of stock or
other securities entitled to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly,
by
such Person or one or more of the other Subsidiaries of that Person or a
combination thereof.
“Taxes”
has the meaning specified in Section 2.12.
“Termination
Date” means, with respect to any Lender, the earliest of (a) the
Commitment Termination Date of such Lender, (b) the date of termination in
whole of the Commitments of all Lenders pursuant to Section 2.04 or 6.01,
and (c) July 31, 2007, if the Acquisition is not consummated on or prior to
such
date.
“Transaction
Costs” means the fees, costs and expenses payable by the Borrower on or
before the consummation of the Acquisition in connection with the transactions
contemplated by this Agreement and the Acquisition Agreement.
“Type”
means, with reference to an Advance, a Base Rate Advance or a Eurodollar Rate
Advance.
“Withdrawal
Liability” has the meaning given such term under Part I of
Subtitle E of Title IV of ERISA.
Section
1.02 Computation
of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from”
means “from and including” and the words “to” and “until” each means “to but
excluding.”
Section
1.03 Accounting
Terms. All accounting terms not specifically defined
herein shall be construed in accordance with GAAP consistent with those applied
in the preparation of the financial statements referred to in
Section 4.01(e). All computations determining compliance with
financial covenants or terms, including definitions used therein, shall be
prepared in accordance with generally accepted accounting principles in effect
at the time of the preparation of, and in conformity with those used to prepare,
the historical financial statements delivered to the Lenders pursuant to
Section 4.01(e). If at any time the computations for determining
compliance with financial covenants or provisions relating thereto utilize
generally accepted accounting principles different than those then being
utilized in the financial statements being delivered to the Lenders, such
financial statements shall be accompanied by a reconciliation
statement.
11
ARTICLE
II
AMOUNTS
AND TERMS OF THE ADVANCES
Section
2.01 The
Advances. Each Lender severally agrees,
on the terms and conditions hereinafter set forth, to make Advances to the
Borrower from time to time on any Business Day during the period from the
Closing Date until the Termination Date of such Lender in an aggregate amount
not to exceed at any time outstanding the amount set opposite such Lender’s name
on Schedule II hereto or, if such Lender has entered into any Assignment and
Assumption, set forth for such Lender in the Register maintained by the Agent
pursuant to Section 8.07(c), as such amount may be reduced pursuant to
Section 2.04 (such Lender’s “Commitment”). Each Borrowing
shall be in an aggregate amount not less than $25,000,000 or an integral
multiple of $5,000,000 in excess thereof and shall consist of Advances of the
same Type made on the same day to the Borrower by the Lenders ratably according
to their respective Commitments. Within the limits of each Lender’s
Commitment, the Borrower may from time to time borrow, until the Commitment
Termination Date, prepay pursuant to Section 2.05(e) and reborrow under
this Section 2.01.
Section
2.02 Making
the Advances.
(a) Each
Borrowing shall be made on notice by the Borrower, given not later than
(x) 9:00 A.M. (Pacific time) on the date of a proposed Borrowing consisting
of Base Rate Advances and (y) 9:00 A.M. (Pacific time) on the third
Business Day prior to the date of a proposed Borrowing consisting of Eurodollar
Rate Advances, which shall give to each Lender prompt notice thereof by
telecopier, mail or delivery. Each such notice of a Borrowing (a
“Notice of Borrowing”) shall be by telecopier, mail or delivery,
confirmed immediately in writing, in substantially the form of Exhibit A hereto,
specifying therein the requested (i) date of such Borrowing, (ii) Type
of Advances comprising such Borrowing, (iii) aggregate amount of such
Borrowing, and (iv) in the case of a Borrowing comprised of Eurodollar Rate
Advances, the initial Interest Period for each such Advance. The
Borrower may, subject to the conditions herein provided, borrow more than one
Borrowing on any Business Day. Each Lender shall, before 12:00 noon
(Pacific time) in the case of a Borrowing consisting of Base Rate Advances
and
before 12:00 noon (Pacific time) in the case of a Borrowing consisting of
Eurodollar Rate Advances, in each case on the date of such Borrowing, make
available for the account of its Applicable Lending Office to the Agent at
its
address referred to in Section 8.02, in same day funds, such Lender’s
ratable portion of such Borrowing. After the Agent’s receipt of such
funds and upon fulfillment of the applicable conditions set forth in
Article III, the Agent will make such funds available to the Borrower at
the Agent’s aforesaid address.
(b) Anything
in subsection (a) above to the contrary notwithstanding,
12
(i) the
Borrower may not select Eurodollar Rate Advances for any Borrowing or with
respect to the Conversion or continuance of any Borrowing if the aggregate
amount of such Borrowing or such Conversion or continuance is less than
$25,000,000;
(ii) there
shall be no more than five Interest Periods relating to Eurodollar Rate Advances
outstanding at any time;
(iii) if
any
Lender shall notify the Agent that the introduction of or any change in or
in
the interpretation of any law or regulation makes it unlawful, or that any
central bank or other governmental authority asserts that it is unlawful, for
such Lender or its Eurodollar Lending Office to perform its obligations
hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar
Rate Advances hereunder, the Commitment of such Lender to make Eurodollar Rate
Advances or to Convert all or any portion of Base Rate Advances shall forthwith
be suspended until the Agent shall notify the Borrower that such Lender has
determined that the circumstances causing such suspension no longer exist and
such Lender’s then outstanding Eurodollar Rate Advances, if any, shall be Base
Rate Advances; to the extent that such affected Eurodollar Rate Advances become
Base Rate Advances, all payments of principal that would have been otherwise
applied to such Eurodollar Rate Advances shall be applied instead to such
Lender’s Base Rate Advances; provided that if Majority Lenders are
subject to the same illegality or assertion of illegality, then the right of
the
Borrower to select Eurodollar Rate Advances for such Borrowing or any subsequent
Borrowing or to Convert all or any portion of Base Rate Advances shall forthwith
be suspended until the Agent shall notify the Borrower that the circumstances
causing such suspension no longer exist, and each Advance comprising such
Borrowing shall be a Base Rate Advance;
(iv) if
the
Majority Lenders shall, at least one Business Day before the date of any
requested Borrowing, notify the Agent that the Eurodollar Rate for Eurodollar
Rate Advances comprising such Borrowing will not adequately reflect the cost
to
such Majority Lenders of making, funding or maintaining their respective
Eurodollar Rate Advances for such Borrowing, the right of the Borrower to select
Eurodollar Rate Advances for such Borrowing or any subsequent Borrowing shall
be
suspended until the Agent shall notify the Borrower and the Lenders that the
circumstances causing such suspension no longer exist, and each Advance
comprising such Borrowing shall be made as a Base Rate Advance.
(c) Each
Notice of Borrowing shall be irrevocable and binding on the
Borrower. In the case of any Borrowing which the related Notice of
Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower
shall indemnify each Lender against any loss, cost or expense incurred by such
Lender by reason of the liquidation or reemployment of deposits or other funds
acquired by such Lender to fund the Advance to be made by such Lender as part
of
such Borrowing or by reason of the termination of hedging or other similar
arrangements, in each case when such Advance is not made on such date, including
without limitation, as a result of any failure to fulfill on or before the
date
specified in such Notice of Borrowing for such Borrowing the applicable
conditions set forth in Article III.
13
(d) Unless
the Agent shall have received notice from a Lender prior to any Borrowing that
such Lender will not make available to the Agent such Lender’s ratable portion
of such Borrowing, the Agent may assume that such Lender has made such portion
available to the Agent on the date of such Borrowing in accordance with
subsection (a) of this Section 2.02 and the Agent may, in reliance
upon such assumption, make available to the Borrower on such date a
corresponding amount. If and to the extent that such Lender shall not
have so made such ratable portion available to the Agent, such Lender and the
Borrower severally agree to repay to the Agent forthwith on demand such
corresponding amount together with interest thereon, for each day from the
date
such amount is made available to the Borrower until the date such amount is
repaid to the Agent, at (i) in the case of the Borrower, the interest rate
applicable at the time to Advances comprising such Borrowing and (ii) in
the case of such Lender, the Federal Funds Rate. If such Lender shall
repay to the Agent such corresponding amount, such amount so repaid shall
constitute such Lender’s Advance as part of such Borrowing for purposes of this
Agreement.
(e) The
failure of any Lender to make the Advance to be made by it as part of any
Borrowing shall not relieve any other Lender of its obligation, if any,
hereunder to make its Advance on the date of such Borrowing, but no Lender
shall
be responsible for the failure of any other Lender to make the Advance to be
made by such other Lender on the date of any Borrowing.
Section
2.03 Fees.
(a) Facility
Fees. The Borrower agrees to pay to the Agent for the account of
each Lender a facility fee on the amount of such Lender’s Commitment (or if no
Commitment is in effect, Advances), whether used or unused, from the date hereof
in the case of each Bank and from the effective date specified in the Assignment
and Assumption pursuant to which it became a Lender in the case of each other
Lender until the Termination Date of such Lender, payable in arrears on the
last
Business Day of each March, June, September and December during the term of
such
Lender’s Commitment, commencing September 30, 2007, and on the Termination Date
of such Lender, in an amount equal to the product of (i) the actual daily
amount of such Lender’s Commitment (whether used or unused) in effect during the
period for which such payment is to be made times (ii) 0.050% per
annum.
(b) Agents’
Fees. The Borrower agrees to pay to the Agent the fees payable
pursuant to the fee letter dated as of June 25, 2007 between the Borrower and
Bank of America, in the amounts and at the times specified in such
letter.
Section
2.04 Optional
Reduction of the Commitments.
The
Borrower shall have the right, upon
at least three Business Days’ notice to the Agent by the Borrower, to terminate
in whole or permanently reduce ratably in part the unused portions of the
respective Commitments of the Lenders, provided that the aggregate amount
of the Commitments of the Lenders shall not be reduced to an amount which is
less than the aggregate principal amount of the Advances then outstanding,
and
provided, further, that each partial reduction shall be in the
aggregate amount of $25,000,000 or an integral multiple of $5,000,000 in excess
thereof.
14
Section
2.05 Repayment
and Prepayment of Advances.
(a) Mandatory
Repayment on Termination Date. The Borrower shall repay the
outstanding principal amount of each Advance made by each Lender to the Borrower
on the Termination Date of such Lender.
(b) Mandatory
Prepayments of Borrowings and Mandatory Reductions of Aggregate
Commitments.
(i) The
Borrower shall from time to time prepay the Advances made to the Borrower to
the
extent necessary so that the sum of the aggregate principal amount of the
Advances then outstanding does not exceed the aggregate amount of the
Commitments of the Lenders then in effect.
(ii) On
the
date of receipt by the Borrower or any of its Subsidiaries after the Closing
Date of the Net Cash Proceeds from (A) any capital contribution to the Borrower
by any holder of Equity Interests thereof or (B) the sale or issuance of any
Equity Interests of the Borrower or such Subsidiary (other than (1) the sale
or
issuance of Equity Interests by the Borrower or any of its Subsidiaries to
the
Borrower or any such Subsidiary, (2) the sale or issuance of Equity Interests
pursuant to the exercise of employee stock options issued under a plan approved
by the Borrower's Board of Directors, (3) Equity Interests in any Person
outstanding immediately prior to the acquisition of such Person by the Borrower
or (4) the sale or issuance of Equity Interests by the Borrower as all or part
of the purchase price paid by the Borrower in connection with the acquisition
of
any Person), the Borrower shall prepay the Borrowings and/or the Aggregate
Commitments shall be reduced by the amount of the Net Cash Proceeds of such
contribution, sale or issuance.
(iii) On
the
date of receipt by the Borrower or any of its Subsidiaries after the Closing
Date of the Net Cash Proceeds from the issuance of any Debt of the Borrower
or
such Subsidiary (other than (A) Debt issued by the Borrower or any of its
Subsidiaries to the Borrower or any such Subsidiary, (B) Commercial Paper or
Debt under the Long Term Credit Agreement in an amount not to exceed
$2,000,000,000 in the aggregate, or (C) Debt of any of the Borrower's
Subsidiaries under its existing working capital facility and any replacement
thereof), the Borrower shall prepay the Borrowings and/or the Aggregate
Commitments shall be reduced by the amount of the Net Cash Proceeds of such
issuance.
(c) Calculations
of Net Cash Proceeds; Additional Prepayments and Reductions Based on Subsequent
Calculations. Concurrently with any prepayment of the Borrowings
and/or reduction of the Aggregate Commitments pursuant to Section 2.05(b)(ii)
or
Section 2.05(b)(iii), the Borrower shall deliver to the Agent a certificate
signed by a Responsible Officer demonstrating the calculation of the amount
of
the applicable Net Cash Proceeds that gave rise to such prepayment and/or
reduction. In the event that the Borrower shall subsequently
determine that the actual amount was greater than the amount set forth in such
certificate, the Borrower shall promptly make an additional prepayment of the
Borrowings (and/or, if applicable, the Aggregate Commitments shall be
permanently reduced) in an amount equal to the amount of such excess, and the
Borrower shall concurrently therewith deliver to the Agent a certificate signed
by a Responsible Officer demonstrating the derivation of the additional amount
resulting in such excess.
15
(d) Application
of Mandatory Prepayments.
(i) Any
amount required to be applied as a mandatory prepayment of the Borrowings and/or
a reduction of the Aggregate Commitments pursuant to Section 2.05(b) or 2.05(c)
shall be applied first to prepay the Borrowings to the full extent
thereof and to permanently reduce the Aggregate Commitments by the amount of
such prepayment, and second, to the extent of any remaining portion of
such amount, to further permanently reduce the Aggregate Commitments to the
full
extent thereof. Any mandatory reduction of Aggregate Commitments
pursuant to this Section 2.05(d) shall be in proportion to each Lender’s
Commitment.
(ii) Any
prepayments pursuant to Section 2.05(b) or Section 2.05(c) shall be applied
first to any Base Rate Advances then outstanding and then to Eurodollar Rate
Advances with the shortest Interest Periods remaining.
(iii) The
Borrower shall pay, together with each prepayment under this Section 2.05,
accrued interest on the amount prepaid and any amounts required pursuant to
Section 2.10.
(e) Voluntary
Prepayments of Borrowings. The Borrower shall not have any right
to prepay any principal amount of any Advances other than as provided in this
subsection (e). The Borrower may, upon same day notice to the
Agent in the case of Base Rate Advances and at least three Business Days’ notice
to the Agent in the case of Eurodollar Rate Advances stating the proposed date
and aggregate principal amount of the prepayment, and if such notice is given
the Borrower shall, prepay the outstanding principal amounts of the Advances
made to the Borrower comprising part of the same Borrowing in whole or ratably
in part; provided, however, that (i) each partial prepayment
shall be in an aggregate principal amount not less than $25,000,000 and integral
multiples of $5,000,000 in excess thereof and (ii) in the case of any such
prepayment of any Eurodollar Rate Advance, the Borrower shall pay all accrued
interest to the date of such prepayment on the portion of such Eurodollar Rate
Advance being prepaid and shall be obligated to reimburse the Lenders in respect
thereof pursuant to Section 2.10.
Section
2.06 Interest
on Advances. The Borrower shall pay
interest accrued on the principal amount of each Advance that was made to the
Borrower outstanding from time to time from the date of such Advance until
such
principal amount shall be paid in full, at the following rates per
annum:
(a) Base
Rate Advances. If such Advance is a Base Rate Advance, a rate per
annum equal at all times to the sum of the Base Rate in effect from time to
time
plus the Applicable Margin, payable in arrears on the last Business Day of
each
March, June, September and December during the term of this Agreement,
commencing September 30, 2007, and on the Termination Date of the applicable
Lender; provided that any amount of principal, interest, fees and other
amounts payable under this Agreement (including, without limitation, the
principal amount of Base Rate Advances, but excluding the principal amount
of
Eurodollar Rate Advances) which is not paid when due (whether at stated
maturity, by acceleration or otherwise) shall bear interest from the date on
which such amount is due until such amount is paid in full, payable on demand,
at the Default Rate; providedfurther that, upon the occurrence and
during the continuance of an Event of Default under Section 6.01(e), all
principal, interest, fees and other amounts payable under this Agreement
(including, without limitation, the principal amount of Base Rate Advances,
but
excluding the principal amount of Eurodollar Rate Advances) shall bear interest
from the date on which such amount is due until such amount is paid in full,
payable on demand, at the Default Rate.
16
(b) Eurodollar
Rate Advances. If such Advance is a Eurodollar Rate Advance, a
rate per annum equal at all times during the Interest Period for such Advance
to
the sum of the Eurodollar Rate for such Interest Period plus the Applicable
Margin, payable in arrears on the last day of such Interest Period and, if
such
Interest Period has a duration of more than three months, on the day which
occurs during such Interest Period three months, or a multiple thereof, from
the
first day of such Interest Period; provided that any principal amount of
any Eurodollar Rate Advance which is not paid when due (whether at stated
maturity, by acceleration or otherwise) shall bear interest from the date on
which such amount is due until such amount is paid in full, payable on demand,
at the Default Rate; providedfurther that, upon the occurrence and
during the continuance of an Event of Default under Section 6.01(e), any
principal amount of any Eurodollar Rate Advance payable under this Agreement
shall bear interest from the date on which such amount is due until such amount
is paid in full, payable on demand, at the Default Rate.
Section
2.07 Interest
Rate Determination. The Agent shall give prompt notice
to the Borrower and the Lenders of the applicable interest rate determined
by
the Agent for purposes of Section 2.06(a) or 2.06(b).
Section
2.08 Voluntary
Conversion or Continuation of Advances.
(a) The
Borrower may on any Business Day, upon notice given to the Agent not later
than
12:00 noon (Pacific time) on the third Business Day prior to the date of the
proposed Conversion or continuance (a “Notice of
Conversion/Continuation”) and subject to the provisions of
Section 2.02(b), (i) Convert all Advances of one Type comprising the
same Borrowing made to the Borrower into Advances of another Type and
(ii) upon the expiration of any Interest Period applicable to Advances
which are Eurodollar Rate Advances made to the Borrower, continue all (or,
subject to Section 2.02(b), any portion of) such Advances as Eurodollar
Rate Advances and the succeeding Interest Period(s) of such continued Advances
shall commence on the last day of the Interest Period of the Advances to be
continued; provided, however, that any Conversion of any
Eurodollar Rate Advances into Advances of another Type shall be made on, and
only on, the last day of an Interest Period for such Eurodollar Rate
Advances. Each such Notice of Conversion/Continuation shall, within
the restrictions specified above, specify (A) the date of such continuation
or Conversion, (B) the Advances (or, subject to Section 2.02(b), any
portion thereof) to be continued or Converted, (C) if such continuation is
of, or such Conversion is into, Eurodollar Rate Advances, the duration of the
Interest Period for each such Advance and (D) that no Default has occurred
and is continuing.
17
(b) If
upon
the expiration of the then existing Interest Period applicable to any Advance
which is a Eurodollar Rate Advance made to the Borrower, the Borrower shall
not
have delivered a Notice of Conversion/Continuation in accordance with this
Section 2.08, then such Advance shall upon such expiration automatically be
Converted to a Base Rate Advance.
(c) After
the
occurrence of and during the continuance of a Default, the Borrower may not
elect to have an Advance be made or continued as, or Converted into, a
Eurodollar Rate Advance after the expiration of any Interest Rate then in effect
for that Advance.
Section
2.09 Increased
Costs.
(a) If,
due
to either (i) the introduction of or any change (other than any change by
way of imposition or increase of reserve requirements contemplated by Section
2.09(d)) in or in the interpretation of any law or regulation or (ii) the
compliance with any guideline or request from any central bank or other
governmental authority (whether or not having the force of law), there shall
be
any increase in the cost to any Lender of agreeing to make or making, funding
or
maintaining Eurodollar Rate Advances made to the Borrower, then the Borrower
shall from time to time, upon demand by such Lender (with a copy of such demand
to the Agent), pay to the Agent for the account of such Lender additional
amounts sufficient to compensate such Lender for such increased
cost. A reasonably detailed certificate as to the amount and manner
of calculation of such increased cost, submitted to the Borrower and the Agent
by such Lender, shall be conclusive and binding for all purposes, absent
manifest error.
(b) If
any
Lender determines that compliance with any law or regulation or any guideline
or
request from any central bank or other governmental authority (whether or not
having the force of law) affects or would affect the amount of capital required
or expected to be maintained by such Lender or any corporation controlling
such
Lender and that the amount of such capital is increased by or based upon the
existence of such Lender’s commitment to lend hereunder and other commitments of
this type, then, upon demand by such Lender (with a copy of such demand to
the
Agent), the Borrower shall immediately pay to the Agent for the account of
such
Lender, from time to time as specified by such Lender, additional amounts
sufficient to compensate such Lender or such corporation in the light of such
circumstances, to the extent that such Lender reasonably determines such
increase in capital to be allocable to the existence of such Lender’s commitment
to lend hereunder. A reasonably detailed certificate as to such
amounts and the manner of calculation thereof submitted to the Borrower and
the
Agent by such Lender shall be conclusive and binding for all purposes, absent
manifest error.
(c) If
a
Lender shall change its Applicable Lending Office, such Lender shall not be
entitled to receive any greater payment under Sections 2.09 and 2.12 than
the amount such Lender would have been entitled to receive if it had not changed
its Applicable Lending Office, unless such change was made at the request of
the
Borrower or at a time when the circumstances giving rise to such greater payment
did not exist.
18
(d) The
Borrower shall pay to each Lender, as long as such Lender shall be required
to
maintain reserves with respect to liabilities or assets consisting of or
including eurocurrency funds or deposits, additional interest on the unpaid
principal amount of each Eurodollar Rate Advance equal to the actual costs
of
such reserves allocated to such Advance by such Lender (as determined by such
Lender in good faith, which determination shall be conclusive), which shall
be
due and payable on each date on which interest is payable on such Advance,
provided the Borrower shall have received at least 10 days’ prior notice (with a
copy to the Agent) of such additional interest from such Lender. If a
Lender fails to give notice 10 days prior to the relevant date on which interest
is payable, such additional interest shall be due and payable 10 days from
receipt of such notice.
Section
2.10 Compensation
for Losses. Upon demand of any Lender (with a copy to
the Agent) from time to time, the Borrower shall promptly compensate such Lender
for and hold such Lender harmless from any loss, cost or expense incurred by
it
as a result of:
(a) any
continuation, conversion, payment or prepayment of any Advance other than a
Base
Rate Advance on a day other than the last day of the Interest Period for such
Advance (whether voluntary, mandatory, automatic, by reason of acceleration,
or
otherwise);
(b) any
failure by the Borrower (for a reason other than the failure of such Lender
to
make an Advance) to prepay, borrow, continue or Convert any Advance other than
a
Base Rate Advance on the date or in the amount notified by the Borrower;
or
(c) any
assignment of a Eurodollar Rate Advance on a day other than the last day of
the
Interest Period therefor as a result of a request by the Borrower pursuant
to
Section 2.16;
including
any loss of anticipated profits and any loss or expense arising from the
liquidation or reemployment of funds obtained by it to maintain such Advance
or
from fees payable to terminate the deposits from which such funds were
obtained. The Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing.
For
purposes of calculating amounts payable by the Borrower to the Lenders under
this Section 2.10, each Lender shall be deemed to have funded each Eurodollar
Rate Advance made by it at the Eurodollar Rate for such Advance by a matching
deposit or other borrowing in the London interbank Eurodollar market for a
comparable amount and for a comparable period, whether or not such Eurodollar
Rate Advance was in fact so funded.
Section
2.11 Payments
and Computations.
(a) The
Borrower shall make each payment hereunder not later than 1:00 P.M. (Pacific
time) on the day when due in U.S. dollars to the Agent at its address referred
to in Section 8.02 in same day funds, without setoff, deduction or
counterclaim. Subject to the immediately succeeding sentence, the
Agent will promptly thereafter cause to be distributed like funds relating
to
the payment of principal, interest, facility fees or utilization fees ratably
(other than amounts payable pursuant to Section 2.03, 2.09, 2.10 or 2.12
or, to the extent the Termination Date is not the same for all Lenders, pursuant
to Section 2.05(a)) to the Lenders for the account of their respective
Applicable Lending Offices, and like funds relating to the payment of any other
amount payable to any Lender to such Lender for the account of its Applicable
Lending Office, in each case to be applied in accordance with the terms of
this
Agreement. Upon receipt of principal or interest paid after an Event
of Default and an acceleration or a deemed acceleration of amounts due
hereunder, the Agent will promptly thereafter cause to be distributed like
funds
relating to the payment of principal or interest ratably in accordance with
each
Lender’s outstanding Advances (other than amounts payable pursuant to Section
2.09, 2.10 or 2.12) to the Lenders for the account of their respective
Applicable Lending Offices. Upon its acceptance of an Assignment and
Assumption and recording of the information contained therein in the Register
pursuant to Section 8.07(c), from and after the effective date specified in
such Assignment and Assumption, the Agent shall make all payments hereunder
in
respect of the interest assigned thereby to the Lender assignee thereunder,
and
the parties to such Assignment and Assumption shall make all appropriate
adjustments in such payments for periods prior to such effective date directly
between themselves.
19
(b) All
computations of interest based on the Base Rate shall be made by the Agent
on
the basis of a year of 365 or 366 days, as the case may be, and all computations
of interest based on the Eurodollar Rate or the Federal Funds Rate and of
facility fees and utilization fees shall be made by the Agent on the basis
of a
year of 360 days, in each case for the actual number of days (including the
first day but excluding the last day) occurring in the period for which such
interest or such fees are payable. Each determination by the Agent of
an interest rate hereunder shall be conclusive and binding for all purposes,
absent manifest error.
(c) Whenever
any payment hereunder shall be stated to be due on a day other than a Business
Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment
of interest or facility fee, as the case may be; provided,
however, if such extension would cause payment of interest on or
principal of Eurodollar Rate Advances to be made in the next following calendar
month, such payment shall be made on the next preceding Business
Day.
(d) Unless
the Agent shall have received notice from the Borrower prior to the date on
which any payment is due to the Lenders hereunder that the Borrower will not
make such payment in full, the Agent may assume that the Borrower has made
such
payment in full to the Agent on such date and the Agent may, in reliance upon
such assumption, cause to be distributed to each Lender on such due date an
amount equal to the amount then due such Lender. If and to the extent
that the Borrower shall not have so made such payment in full to the Agent,
each
Lender shall repay to the Agent forthwith on demand such amount distributed
to
such Lender together with interest thereon, for each day from the date such
amount is distributed to such Lender until the date such Lender repays such
amount to the Agent, at the Federal Funds Rate.
20
Section
2.12 Taxes.
(a) Any
and
all payments by the Borrower hereunder shall be made, in accordance with
Section 2.11, free and clear of and without deduction for any and all
present or future taxes, levies, imposts, deductions, charges or withholdings,
and all liabilities with respect thereto (hereinafter referred to as
“Taxes”), excluding, in the case of each Lender and the Agent,
(i) taxes imposed on its income, and franchise taxes imposed on it, by the
jurisdiction under the laws of which such Lender or the Agent (as the case
may
be) is organized or any political subdivision thereof or in which its principal
office is located, (ii) taxes imposed on its income, and franchise taxes
imposed on it, by the jurisdiction of such Lender’s Applicable Lending Office or
any political subdivision thereof, (iii) taxes imposed upon or measured by
the overall net income of such Lender by the United States or any political
subdivision or taxing authority thereof or therein, and (iv) United States
income taxes (including withholding taxes with respect to payments hereunder)
payable with respect to payments hereunder under laws (including without
limitation any statute, treaty, ruling, determination or regulation) in effect
on the date hereof in the case of each Bank and on the effective date of the
Assignment and Assumption pursuant to which it became a Lender in the case
of
each other Lender (all such non-excluded Taxes being hereafter referred to
as
“Indemnified Taxes”; and all such excluded Taxes being hereinafter
referred to as “Excluded Taxes”). If the Borrower shall be
required by law to deduct any Taxes from or in respect of any sum payable
hereunder to any Lender or the Agent, (i) unless such Taxes are Excluded
Taxes, the sum payable shall be increased as may be necessary so that after
making all required deductions (including deductions applicable to additional
sums payable under this Section 2.12) such Lender or the Agent (as the case
may be) receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Borrower shall make such deductions and
(iii) the Borrower shall pay the full amount deducted to the relevant
taxation authority or other authority in accordance with applicable
law.
(b) In
addition, the Borrower agrees to pay any present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies which
arise from the execution, delivery or registration of, or otherwise with respect
to, this Agreement (hereinafter referred to as “Other
Taxes”).
(c) The
Borrower will indemnify each Lender and the Agent for the full amount of
Indemnified Taxes or Other Taxes (including, without limitation, any Indemnified
Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this
Section 2.12) and the Borrower will indemnify each Lender and the Agent for
the full amount of Indemnified Taxes or Other Taxes (including, without
limitation, any Indemnified Taxes or Other Taxes imposed by any jurisdiction
on
amounts payable under this Section 2.12), in each case paid by such Lender
or the Agent (as the case may be) and any liability (including penalties,
interest and expenses) arising therefrom or with respect thereto, whether or
not
such Indemnified Taxes or Other Taxes were correctly or legally
asserted. This indemnification shall be made within 30 days from the
date such Lender or the Agent (as the case may be) makes written demand
therefor.
21
(d) Within
30
days after the date of any payment of Taxes, the Borrower will furnish to the
Agent, at its address referred to in Section 8.02, the original or a
certified copy of a receipt evidencing payment thereof.
(e) (i) Each
Lender organized under the laws of a jurisdiction outside the United States,
on
or prior to the date of its execution and delivery of this Agreement in the
case
of each Bank and on the date of the Assignment and Assumption pursuant to which
it becomes a Lender in the case of each other Lender, and from time to time
thereafter if requested in writing by the Borrower (but only so long as such
Lender remains lawfully able to do so), shall provide the Borrower with either
(A) Internal Revenue Service form W-8BEN or W-8ECI, as appropriate, or any
successor form prescribed by the Internal Revenue Service, to establish that
such Lender is not subject to, or is subject to a reduced rate of, United States
withholding Tax with respect to any payments to such Lender of interest payable
under this Agreement, or (B) if such Lender claims the benefits of the exemption
for portfolio interest under section 881(c) of the Code, (1) a certificate
to
the effect that such Lender is not (x) a “bank” within the meaning of section
881(c)(3)(A) of the Code, (y) a “10 percent shareholder” of the Borrower within
the meaning of section 881(c)(3)(B) of the Code, or (z) a “controlled foreign
corporation” described in section 881(c)(3)(C) of the Code and (2) duly
completed copies of Internal Revenue Service Form W-8BEN. If the form
provided by a Lender at the time such Lender first becomes a party to this
Agreement indicates a United States interest withholding tax rate in excess
of
zero, withholding tax at such rate shall be considered an Excluded
Tax.
(ii) In
addition, each Lender organized under the laws of a jurisdiction outside the
United States, to the extent it does not act or ceases to act for its own
account with respect to any portion of any sums paid or payable to such Lender
under this Agreement (for example, in the case of a typical participation by
such Lender), on or prior to the date of its execution and delivery of this
Agreement in the case of each Bank and on the date of the Assignment and
Assumption pursuant to which it becomes a Lender in the case of each other
Lender, on or prior to such later date when such Lender ceases to act for its
own account with respect to any portion of any such sums paid or payable, and
from time to time thereafter if requested in writing by the Borrower (but only
so long as such Lender remains lawfully able to do so), shall provide the
Borrower with Internal Revenue Service form W-8IMY, or any successor form
prescribed by the Internal Revenue Service, together with any information,
if
any, such Lender chooses to transmit with such form, and any other certificate
or statement of exemption required under the Code or the regulations thereunder,
to establish that such Lender is not acting for its own account with respect
to
a portion of any such sums payable to such Lender.
(f) For
any
period during which any Tax is required to be deducted or withheld (i) on the
basis of the information, certificates or statements of exemption a Lender
chooses to transmit with an Internal Revenue Service Form W-8IMY pursuant to
subsection 2.12(e)(ii), or (ii) due solely to a Lender’s failure to
provide the Borrower with the appropriate form described in Section 2.12(e)
(other than if such failure is due to a change in law occurring subsequent
to
the date on which a form originally was required to be provided, or if such
form
otherwise is not required under the first sentence of subsection 2.12(e)(i)
above), such Tax shall be considered an Excluded Tax for purposes of Section
2.12(a); provided, however, that should a Lender become subject to
Taxes because of its failure to deliver a form required hereunder, the Borrower
shall, at the expense of such Lender, take such steps as the Lender shall
reasonably request to assist the Lender to recover such Taxes.
22
(g) Without
prejudice to the survival of any other agreement of the Borrower hereunder,
the
agreements and obligations of the Borrower contained in this Section 2.12
shall survive the payment in full of principal and interest
hereunder.
Section
2.13 Sharing
of Payments, Etc. If any Lender shall
obtain any payment (whether voluntary, involuntary, through the exercise of
any
right of set-off, or otherwise) on account of the Advances made by it (other
than pursuant to Section 2.09, 2.10 or 2.12 or, to the extent the
Termination Date is not the same for all Lenders, pursuant to
Section 2.05(a)) in excess of its ratable share of payments on account of
the Advances obtained by all the Lenders, such Lender shall forthwith purchase
from the other Lenders such participations in the Advances made by them as
shall
be necessary to cause such purchasing Lender to share the excess payment ratably
with each of them, provided, however, that if all or any portion
of such excess payment is thereafter recovered from such purchasing Lender,
such
purchase from each Lender shall be rescinded and such Lender shall repay to
the
purchasing Lender the purchase price to the extent of such recovery together
with an amount equal to such Lender’s ratable share (according to the proportion
of (a) the amount of such Lender’s required repayment to (b) the total
amount so recovered from the purchasing Lender) of any interest or other amount
paid or payable by the purchasing Lender in respect of the total amount so
recovered. The Borrower agrees that any Lender so purchasing a
participation from another Lender pursuant to this Section 2.13 may, to the
fullest extent permitted by law, exercise all its rights of payment (including
the right of set-off) with respect to such participation as fully as if such
Lender were the direct creditor of the Borrower in the amount of such
participation.
Section
2.14 Evidence
of Debt.
(a) Each
Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting
from each Advance owing to such Lender from time to time, including the amounts
of principal and interest payable and paid to such Lender from time to time
hereunder. The Borrower agrees that upon notice by any Lender to the
Borrower (with a copy of such notice to the Agent) to the effect that a
promissory note or other evidence of indebtedness is required or appropriate
in
order for such Lender to evidence (whether for purposes of pledge, enforcement
or otherwise) the Advances owing to, or to be made by, such Lender, the Borrower
shall promptly execute and deliver to such Lender promissory notes or other
evidence of such indebtedness, in form and substance reasonably satisfactory
to
the Borrower and such Lender, payable to the order of such Lender in a principal
amount equal to the aggregate principal amount of the Commitment of such Lender;
provided, however, that the execution and delivery of such promissory
note or other evidence of indebtedness shall not be a condition precedent to
the
making of any Advance under this Agreement.
(b) The
Register maintained by the Agent pursuant to Section 8.07(c) shall include
a control account, and a subsidiary account for each Lender, in which accounts
(taken together) shall be recorded (i) the date, amount and tenor, as
applicable, of each Borrowing, the Borrower that received the proceeds of such
Borrowing, the Type of Advances comprising such Borrowing and the Interest
Period applicable thereto, (ii) the terms of each Assignment and Assumption
delivered to and accepted by it, (iii) the amount of any principal or
interest due and payable or to become due and payable from the Borrower to
each
Lender hereunder, and (iv) the amount of any sum received by the Agent from
the Borrower hereunder and each Lender’s share thereof.
23
(c) The
entries made in the Register shall be conclusive and binding for all purposes,
absent manifest error.
Section
2.15 Use
of Proceeds.
(a) Advances
shall be used by the Borrower to (i) finance, in part, the Acquisition Financing
Requirements (to the extent that the Borrower does not issue Commercial Paper
to
finance the Acquisition) and (ii) repay Commercial Paper issued to (A) finance
the Acquisition or (B) repay outstanding Advances under this
Agreement.
(b) No
portion of the proceeds of any Advances under this Agreement shall be used
by
the Borrower or any of its Subsidiaries in any manner which might cause the
Advances or the application of such proceeds to violate, or require any Lender
to make any filing or take any other action under, Regulation T, Regulation
U or
Regulation X of the Board of Governors of the Federal Reserve System or any
other regulation of such Board or to violate the Securities Exchange Act of
1934, in each case as in effect on the date or dates of such Advances and such
use of proceeds.
Section
2.16 Replacement
of Lenders. If any Lender requests
compensation under Section 2.09(a) or (b), or if the Borrower is required to
pay
any additional amount to any Lender or any governmental authority for the
account of any Lender pursuant to 2.12, or if any Lender is a Defaulting Lender,
or if any Lender refuses to consent to an amendment or waiver of this Agreement
that, pursuant to Section 8.01, requires consent of 100% of the Lenders, then
the Borrower may, at its sole expense and effort, upon notice to such Lender
and
the Agent, require such Lender to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in, and consents
required by, Section 8.07), all of its interests, rights and obligations under
this Agreement to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment), provided
that:
(a) the
Borrower shall have paid to the Agent the assignment fee specified in Section
8.07(b);
(b) such
Lender shall have received payment of an amount equal to the outstanding
principal of Advances, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder (including any amounts under Section 2.09 or
Section 2.10) from the assignee (to the extent of such outstanding principal
and
accrued interest and fees) or the Borrower (in the case of all other
amounts);
(c) in
the
case of any such assignment resulting from a claim for compensation under
Section 2.09 or payments required to be made pursuant to Section 2.12, such
assignment will result in a reduction in such compensation or payments
thereafter;
24
(d) such
assignment does not conflict with applicable laws; and
(e) the
Agent may execute and deliver such Assignment and Assumption on behalf of such
Lender.
A
Lender
shall not be required to make any such assignment or delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to
apply.
Section
2.17 Special
Purpose Funding Vehicles.
(a) Notwithstanding
anything to the contrary contained herein, any Lender, (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”)
the option to fund all or any part of any Advance that such Granting Lender
would otherwise be obligated to fund pursuant to this Agreement;
provided, that (i) nothing herein shall constitute a commitment by
an SPC to fund any Advance, and (ii) if an SPC elects not to exercise such
option or otherwise fails to fund all or any part of such Advance, the Granting
Lender shall be obligated to fund such Advance pursuant to the terms
hereof. The funding of an Advance by an SPC hereunder shall utilize
the Commitment of the Granting Lender to the same extent, and as if, such
Advance were funded by such Granting Lender. Each party hereto hereby
agrees that no SPC shall be liable for any indemnity or payment under this
Agreement for which a Lender would otherwise be liable for so long as, and
to
the extent, the Granting Lender provides such indemnity or makes such
payment. Notwithstanding anything to the contrary contained in this
Agreement, any SPC may disclose on a confidential basis any non-public
information relating to its funding of Advances to any rating agency, commercial
paper dealer or provider of any surety or guarantee to such SPC.
(b) Each
Granting Lender, acting solely for this purpose on the Borrower's behalf, shall
maintain a register comparable to the Register maintained by the Agent pursuant
to Section 8.07(c) for purpose of recording the funding of Advances by
SPCs.
(c) Assignments
of and participations in Advances funded by SPCs shall be subject to the
provisions of Section 8.07.
Section
2.18 Obligations
of Lenders Several. The obligations of
the Lenders hereunder to extend Advances and to make payments pursuant to
Section 8.04(c) are several and not joint. The failure of any Lender
to extend any Advance or to make any payment under Section 8.04(c) on any date
required hereunder shall not relieve any other Lender of its corresponding
obligation to do so on such date, and no Lender shall be responsible for the
failure of any other Lender to so extend an Advance or to make its payment
under
Section 8.04(c).
ARTICLE
III
CONDITIONS
OF LENDING
Section
3.01 Condition
Precedent to Closing Date. The effectiveness of this
Agreement and the obligation of each Lender to make its initial Advance
hereunder on and after the Closing Date are subject to the condition precedent
that the Agent receive on or before the Closing Date the following, each dated
the Closing Date (unless otherwise specified below), and each in form and
substance satisfactory to the Agent and each of the Lenders and in sufficient
copies for each Lender:
25
(a) This
Agreement, executed by the Borrower and each Lender listed on Schedule II
hereto;
(b) Certified
copies of the resolutions of the Board of Directors of the Borrower approving
this Agreement, and of all documents evidencing other necessary corporate action
and governmental approvals, if any, with respect to this Agreement;
(c) A
certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower
authorized to sign this Agreement and the other documents to be delivered by
the
Borrower hereunder;
(d) A
certificate of the Secretary or Assistant Secretary of the Borrower, dated
the
Closing Date, certifying the correctness and completeness of the copies of
Borrower’s Certificate of Incorporation and Bylaws previously delivered to the
Agent, together with good standing certificates from the state of its
incorporation and its principal place of business, each to be dated a recent
date prior to the Closing Date;
(e) A
favorable opinion of Xxxxxxx X. Xxxx, Esq., General Counsel of the Borrower,
substantially in the form of Exhibit C hereto;
(f) A
certificate of an authorized officer of the Borrower, stating that the
representations and warranties of the Borrower contained in Article IV are
correct on and as of the Closing Date; and
(g) The
balance sheet of the Borrower and its Subsidiaries as at March 30, 2007, and
the
related statements of income and retained earnings of the Borrower and its
Subsidiaries for the fiscal year then ended.
Without
limiting the generality of the provisions of Section 7.04, for purposes of
determining compliance with the conditions specified in this Section 3.01,
each
Lender that has signed this Agreement shall be deemed to have consented to,
approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable or
satisfactory to a Lender unless the Agent shall have received notice from such
Lender prior to the proposed Closing Date specifying its objection
thereto.
Section
3.02 Conditions
Precedent to Each Borrowing. The
obligation of each Lender to make an Advance on the occasion of each Borrowing
(including the initial Borrowing) shall be subject to the further conditions
precedent that (i) the Agent shall have received a Notice of Borrowing with
respect thereto in accordance with Section 2.02 and (ii) on the date
of such Borrowing the following statements shall be true (and each of the giving
of the applicable Notice of Borrowing and the acceptance by the Borrower of
the
proceeds of such Borrowing shall constitute a representation and warranty by
the
Borrower that on the date of such Borrowing such statements are
true):
26
(a) The
representations and warranties of the Borrower contained in Article IV
(other than the representations set forth in the second sentence of Section
4.01(e) to the extent the proceeds of such Borrowing are used to repay
Commercial Paper) are correct on and as of the date of such Borrowing, before
and after giving effect to such Borrowing and to the application of the proceeds
therefrom, as though made on and as of such date, except to the extent that
any
such representation or warranty expressly relates only to an earlier date,
in
which case they were correct as of such earlier date;
(b) No
event
has occurred and is continuing, or would result from such Borrowing or from
the
application of the proceeds therefrom, which constitutes a Default;
(c) All
conditions to the Acquisition other than the payment of the purchase price
shall
have been satisfied or the fulfillment of any such conditions shall have been
waived with the consent of each Lender;
(d) Either
(i) the Acquisition shall have become effective in accordance with the terms
of
the Acquisition Agreement or (ii) to the extent that such Advance shall be
used
to finance, in part, the Acquisition Financing Requirements (to the extent
that
the Borrower does not issue Commercial Paper to finance the Acquisition), the
Agent shall have received an officer's certificate of the Borrower stating
that
the Borrower will proceed to consummate the Acquisition immediately upon the
making of such Advance; and
(e) The
Borrower shall have delivered such other certificates or documents that the
Agent shall reasonably request, in form and substance satisfactory to the
Agent.
ARTICLE
IV
REPRESENTATIONS
AND WARRANTIES
Section
4.01 Representations
and Warranties of the Borrower. The Borrower represents
and warrants as follows:
(a) Due
Organization, etc. The Borrower is a corporation duly organized,
validly existing and in good standing under the laws of the State of
Nevada. The Borrower is duly qualified to do business as a foreign
corporation in good standing in all other jurisdictions which require such
qualification except to the extent that failure to so qualify would not have
a
material adverse effect on the Borrower. Each Subsidiary of the
Borrower is duly organized and validly existing under the laws of the
jurisdiction of its incorporation or formation. Each such Subsidiary
is duly qualified to do business in all other jurisdictions which require such
qualification except to the extent that failure to so qualify would not have
a
material adverse effect on such Subsidiary.
(b) Due
Authorization, etc. The execution, delivery and performance by
the Borrower of this Agreement are within the Borrower’s corporate powers, have
been duly authorized by all necessary corporate action, and do not contravene
(i) the Borrower’s certificate of incorporation or bylaws or (ii) law
or any material contractual restriction binding on or affecting the
Borrower.
27
(c) 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 Borrower of
this
Agreement.
(d) Validity. This
Agreement is the legal, valid and binding obligation of the Borrower enforceable
against the Borrower 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.
(e) Condition
of the Borrower. The balance sheet of the Borrower and its
Subsidiaries as at March 30, 2007, and the related statements of income and
retained earnings of the Borrower and its Subsidiaries for the fiscal year
then
ended, copies of which have been furnished to each Bank, fairly present the
financial condition of the Borrower and its Subsidiaries as at such date and
the
results of the operations of the Borrower and its Subsidiaries for the fiscal
year ended on such date, all in accordance with GAAP consistently
applied. There has been no material adverse change in the business,
condition (financial or otherwise), operations or properties of the Borrower
and
its Subsidiaries, taken as a whole, since March 30, 2007.
(f) Litigation. There
is no pending or threatened investigation, action or proceeding against the
Borrower or any of its Subsidiaries before any court, governmental agency or
arbitrator that would reasonably be expected to materially adversely affect
the
financial condition or operations of the Borrower and its Subsidiaries, taken
as
a whole, or which purports to affect the legality, validity or enforceability
of
this Agreement.
(g) Margin
Regulations. The Borrower is not engaged in the business of
extending credit for the purpose of purchasing or carrying margin stock (within
the meaning of Regulation U issued by the Board of Governors of the Federal
Reserve System), and no proceeds of any Advance will be used to purchase or
carry any margin stock or to extend credit to others for the purpose of
purchasing or carrying any margin stock in any manner that violates or would
cause a violation of Regulation T, Regulation U or Regulation X.
(h) Payment
of Taxes. Except as disclosed in the Borrower's Annual Report on
Form 10-K for the year ended March 30, 2007, the Borrower and each of its
Subsidiaries have filed or caused to be filed all material Tax returns (federal,
state, local and foreign) required to be filed and paid all material amounts
of
Taxes shown thereon to be due, including interest and penalties, except for
such
Taxes as are being contested in good faith and by proper proceedings and with
respect to which appropriate reserves are being maintained by the Borrower
or
any such Subsidiary, as the case may be.
(i) Governmental
Regulation. The Borrower is not subject to regulation under the
Federal Power Act, the Interstate Commerce Act or the Investment Company Act
of
1940, each as amended, or to any Federal or state statute or regulation limiting
its ability to incur indebtedness for money borrowed. No Subsidiary
of the Borrower is subject to any regulation that would limit the ability of
the
Borrower to enter into or perform its obligations under this
Agreement.
28
(j) ERISA.
(i) No
ERISA
Event has occurred or is reasonably expected to occur (other than for premiums
payable under Title IV of ERISA), that could reasonably be expected to result
in
a liability to the Borrower or its ERISA Affiliates of more than
$75,000,000.
(ii) Schedule
B (Actuarial Information) to the most recently completed annual report (Form
5500 Series) for each Pension Plan, copies of which have been filed with the
Internal Revenue Service and furnished to the Agent, is complete and, to the
best knowledge of the Borrower, accurate, and since the date of such Schedule
B
there has been no material adverse change in the funding status of any such
Pension Plan.
(iii) As
of the
most recent valuation date for each Multiemployer Plan for which the actuarial
report is available, the potential liability to the Borrower or any of its
ERISA
Affiliates for a complete withdrawal from such Multiemployer Plan, when
aggregated with such potential liability for a complete withdrawal for all
Multiemployer Plans, based on information available pursuant to Section 4221(e)
of ERISA, does not exceed $75,000,000.
(iv) The
Borrower and each of its ERISA Affiliates are in compliance with all applicable
provisions and requirements of ERISA and the regulations and published
interpretations thereunder with respect to each Employee Benefit Plan, and
have
performed all their obligations under each Employee Benefit
Plan. Each Employee Benefit Plan that is intended to qualify under
Section 401(a) of the Code has received a determination letter from the Internal
Revenue Service that the Employee Benefit Plan is so qualified (or a timely
application for such a determination letter is pending), and to the best of
the
Borrower’s knowledge, the Employee Benefit Plan has not been operated in any way
that would result in the Employee Benefit Plan no longer being so
qualified.
(v) Neither
the Borrower nor any ERISA Affiliate has been notified by the sponsor of a
Multiemployer Plan that such Multiemployer Plan is in reorganization or has
been
terminated, within the meaning of Title IV of ERISA, and, to the best knowledge
of the Borrower, no Multiemployer Plan is reasonably expected to be in
reorganization or to be terminated within the meaning of Title IV of
ERISA.
(vi) The
accumulated postretirement benefit obligation, as defined by Statement of
Financial Accounting Standards 106, of health and welfare benefits for retired
and former employees of the Borrower and any of its ERISA Affiliates is not
materially different than that set forth in the Borrower's Annual Report on
Form
10-K most recently filed with the SEC.
(k) Disclosure. No
representation or warranty of the Borrower contained in this Agreement
(including any Schedule furnished in connection herewith) contains any untrue
statement of a material fact. No other document, certificate or
written statement furnished to the Agent or any Lender by or on behalf of the
Borrower for use in connection with the transactions contemplated in this
Agreement, taken as a whole with other documents, certificates or written
statements furnished contemporaneously therewith, contains any untrue statement
of fact or omits to state a material fact (known to the Borrower in the case
of
any documents not furnished by it) necessary in order to make the statements
contained therein not misleading in light of the circumstances under which
the
same were made.
29
(l) Insurance. The
Borrower and its Subsidiaries (i) have in full force insurance coverage of
their respective properties, assets and business (including casualty, general
liability, products liability and business interruption insurance) that is
(A) no less protective in any material respect than the insurance the
Borrower and its Subsidiaries have carried in accordance with their past
practices or (B) prudent given the nature of the business of the Borrower
and its Subsidiaries and the prevailing practice among companies similarly
situated or (ii) maintain a plan or plans of self-insurance to such extent
and covering such risks as is usual for companies of comparable size engaged
in
the same or similar business which plan or plans provide for, among other
things, adequate reserves for the risks being
self-insured.
(m) Environmental
Matters. (i) The Borrower and each of its Subsidiaries is in
compliance in all material respects with all Environmental Laws the
non-compliance with which could reasonably be expected to have a material
adverse effect on the financial condition or operations of the Borrower and
its
Subsidiaries, taken as a whole, and (ii) there has been no “release or
threatened release of a hazardous substance” (as defined by the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended,
42
U.S.C. § 9601 etseq.) or any other release, emission or
discharge into the environment of any hazardous or toxic substance, pollutant
or
other materials from the Borrower’s or its Subsidiaries’ property other than as
permitted under applicable Environmental Law and other than those which would
not have a material adverse effect on the financial condition or operations
of
the Borrower and its Subsidiaries, taken as a whole. Other than
disposals for which the Borrower has been indemnified in full, all “hazardous
waste” (as defined by the Resource Conservation and Recovery Act, 42 U.S.C.
§ 6901 etseq. (1976) and the regulations thereunder, 40 CFR
Part 261 (“RCRA”)) generated at the Borrower’s or any Subsidiaries’
properties have in the past been and shall continue to be disposed
of at sites
which maintain valid permits under RCRA and any applicable state or local
Environmental Law.
(n) Acquisition
Agreement. The Lenders have been furnished true and complete
copies of the Acquisition Agreement and all exhibits, schedules and other
documents related thereto to the extent executed and delivered on or prior
to
the Closing Date. All representations and warranties of the Borrower
set forth in the Acquisition Agreement were true and correct in all material
respects as of the time such representations and warranties were made and shall
be true and correct in all material respects as of the effective time of the
Acquisition as if such representations and warranties were made on and as of
such date, unless stated to relate to a specific earlier date, in which case
such representations and warranties shall be true and correct in all material
respects as of such earlier date.
30
ARTICLE
V
COVENANTS
Section
5.01 Affirmative
Covenants of the Borrower. The Borrower covenants and
agrees that the Borrower will, unless and until all of the Advances shall have
been indefeasibly paid in full and the Commitments of the Lenders shall have
terminated, unless Majority Lenders shall otherwise consent in
writing:
(a) Compliance
with Laws, Etc. Comply, and cause each of its Subsidiaries to
comply, with all applicable laws, rules, regulations and orders, such compliance
to include, without limitation, (i) complying with all Environmental Laws
and (ii) paying before the same become delinquent all Taxes imposed upon it
or upon its property except to the extent contested in good faith, except where
failure to so comply would not have a material adverse effect on the business,
condition (financial or otherwise), operations or properties of the Borrower
and
its Subsidiaries, taken as a whole.
(b) Reporting
Requirements. Furnish to the Lenders:
(i) as
soon
as available and in any event within 60 days of the end of each of the first
three fiscal quarters of each fiscal year of the Borrower, a copy of the
quarterly report for such quarter for the Borrower and its Subsidiaries,
containing financial statements (including a consolidated balance sheet,
consolidated statements of income and stockholders’ equity and cash flows of the
Borrower and its Subsidiaries) for such quarter;
(ii) as
soon
as available and in any event within 120 days after the end of each fiscal
year
of the Borrower, a copy of the annual audit report for such year for the
Borrower and its Subsidiaries, containing financial statements (including a
consolidated balance sheet, consolidated statements of income and stockholders’
equity and cash flows of the Borrower and its Subsidiaries) for such year,
accompanied by an opinion of Deloitte & Touche or other nationally
recognized independent public accountants. The opinion shall be
unqualified (as to going concern, scope of audit and disagreements over the
accounting or other treatment of offsets) and shall state that such consolidated
financial statements present fairly the financial position of the Borrower
and
its Subsidiaries as at the dates indicated and the results of their operations
and cash flow for the periods indicated in conformity with GAAP applied on
a
basis consistent with prior years (except as stated therein) and that the
examination by such accountants in connection with such consolidated financial
statements has been made in accordance with generally accepted auditing
standards;
(iii) together
with each delivery of the report of the Borrower and its Subsidiaries pursuant
to clause (i) or clause (ii) above, a compliance certificate for the
quarter or year, as applicable, executed by an authorized financial officer
of
the Borrower (A) stating, in the case of the financial statements delivered
under Section 5.01(b)(i) for such quarter, that such financial statements
fairly present the financial condition of the Borrower and its Subsidiaries
as
at the dates indicated and the results of operations of the Borrower and its
Subsidiaries and cash flow for the periods indicated in conformity with GAAP
applied on a basis consistent with prior years (except as otherwise stated
therein), subject to changes resulting from audit and normal year-end
adjustment, (B) stating that the signer has reviewed the terms of this
Agreement and has made, or caused to be made under his or her supervision,
a
review in reasonable detail of the transactions and condition of the Borrower
and its Subsidiaries during the accounting period covered by such financial
statements and that such review has not disclosed the existence during or at
the
end of such accounting period, and that the signer does not have knowledge
of
the existence as at the date of the compliance certificate, of any condition
or
event that constitutes a Default or, if any such condition or event existed
or
exists, specifying the nature and period of existence thereof and what action
the Borrower has taken, is taking and proposes to take with respect thereto
and
(C) demonstrating in reasonable detail compliance during (as required
thereunder) and at the end of such accounting periods with the restrictions
contained in Section 5.02(c).
31
(iv) as
soon
as possible and in any event within five days after the occurrence of each
Default, continuing on the date of such statement, a statement of an authorized
financial officer of the Borrower setting forth details of such Default and
the
action which the Borrower has taken and proposes to take with respect
thereto;
(v) promptly
after any significant change in accounting policies or reporting practices,
notice and a description in reasonable detail of such change;
(vi) promptly
after the sending or filing thereof, copies of all proxy statements, financial
statements and reports that the Borrower or any of its Subsidiaries sends to
its
stockholders generally, and copies of all regular, periodic and special reports,
and all registration statements, that the Borrower or any of its Subsidiaries
files with the SEC or any governmental authority that may be substituted
therefor, or with any national securities exchange;
(vii) promptly
after the furnishing thereof, copies of any statement or report furnished to
any
other holder of the securities of the Borrower or any of its Subsidiaries
pursuant to the terms of any indenture, loan or credit or similar agreement
and
not otherwise required to be furnished to the Lenders pursuant to any other
clause of this Section 5.01.
(viii) promptly
after the commencement thereof, notice of all material actions, suits and
proceedings before any court or government department, commission, board,
bureau, agency or instrumentality, domestic or foreign, affecting the Borrower
or any of its Subsidiaries, of the type described in
Section 4.01(f).
(ix) promptly
after the occurrence thereof, notice of (A) any event which makes any of
the representations contained in Section 4.01(m) inaccurate in any material
respect or (B) the receipt by the Borrower of any notice, order, directive
or other communication from a governmental authority alleging violations of
or
noncompliance with any Environmental Law which could reasonably be expected
to
have a material adverse effect on the financial condition of the Borrower and
its Subsidiaries, taken as a whole;
32
(x) promptly
after any change in any Rating, a notice of such change, which notice shall
specify the new Rating, the date on which such change was publicly announced
by
S&P or Xxxxx’x, as the case may be, and such other information with respect
to such change as any Lender through the Agent may reasonably request;
and
(xi) such
other information respecting the condition or operations, financial or
otherwise, of the Borrower or any of its Subsidiaries as any Lender through
the
Agent may from time to time reasonably request.
(c) Corporate
Existence, Etc. The Borrower will, and will cause each of its
material Subsidiaries to, at all times maintain its fundamental business and
preserve and keep in full force and effect its corporate existence (except
as
permitted under Section 5.02(b)) and all rights, franchises and licenses
necessary or desirable in the normal conduct of its business.
(d) Maintenance
of Insurance. The Borrower will and will cause each of its
Subsidiaries to maintain insurance with responsible and reputable insurance
companies or associations in such amounts and covering such risks (i) as
are usually insured by companies engaged in similar businesses and
(ii) with responsible and reputable insurance companies or
associations. Notwithstanding the foregoing, the Borrower and its
Subsidiaries may maintain a plan or plans of self-insurance to such extent
and
covering such risks as is usual for companies of comparable size engaged in
the
same or similar business, which plans shall include, among other things,
adequate reserves for the risks that are self-insured. On request the
Borrower will advise the Agent and the Lenders concerning any such plan or
plans
for self-insurance.
Section
5.02 Negative
Covenants of the Borrower. The Borrower covenants and
agrees that, unless and until all of the Advances shall have been indefeasibly
paid in full and the Commitments of the Lenders shall have terminated, unless
Majority Lenders shall otherwise consent in writing:
(a) Liens,
Etc. The Borrower will not create or suffer to exist, or permit
any of its Subsidiaries to create or suffer to exist, any Lien, upon or with
respect to any of its properties, whether now owned or hereafter acquired,
or
assign, or permit any of its Subsidiaries to assign, any right to receive
income, in each case to secure or provide for the payment of any Debt of any
Person, unless the Borrower’s obligations hereunder shall be secured equally and
ratably with, or prior to, any such Debt; providedhowever that the
foregoing restriction shall not apply to the following Liens which are
permitted:
(i) set-off
rights, arising by operation of law or under any contract entered into in the
ordinary course of business, and bankers’ Liens, Liens of carriers,
warehousemen, mechanics, workmen, employees, materialmen and other Liens imposed
by law;
(ii) Liens
in
favor of the United States to secure amounts paid to the Borrower or any of
its
Subsidiaries as advance or progress payments under government contracts entered
into by it so long as such Liens cover only (x) special bank accounts into
which only such advance or progress payments are deposited and (y) supplies
covered by such government contracts and material and other property acquired
for or allocated to the performance of such government contracts;
33
(iii) attachment,
judgment and other similar Liens arising in connection with legal proceedings,
provided that the execution or other enforcement of such Liens is
effectively stayed and the claims secured thereby are being contested in good
faith by appropriate proceedings, and provided that any such judgment
does not constitute an Event of Default;
(iv) Liens
on
accounts receivable resulting from the sale of such accounts
receivable;
(v) Liens
on
assets of any Subsidiary of the Borrower existing at the time such Person
becomes a Subsidiary (other than any such Lien created in contemplation of
becoming a Subsidiary);
(vi) purchase
money Liens upon or in any property acquired or held by the Borrower or any
Subsidiary in the ordinary course of business to secure the purchase price
of
such property or to secure Debt incurred solely for the purpose of financing
the
acquisition of such property (provided that the amount of Debt secured by such
Lien does not exceed 100% of the purchase price of such property and transaction
costs relating to such acquisition) and Liens existing on such property at
the
time of its acquisition (other than any such Lien created in contemplation
of
such acquisition); and the interest of the lessor thereof in any property that
is subject to a Capital Lease;
(vii) Liens,
other than Liens described in clauses (i) through (vi) and in
clause (ix), to secure Debt not in excess of an aggregate of $100,000,000
principal amount at any time outstanding;
(viii) Liens
resulting from any extension, renewal or replacement (or successive extensions,
renewals or replacements), in whole or in part, of any Debt secured by any
Lien
referred to in clauses (iv), (v) and (vi) so long as (x) the aggregate
principal amount of any such Debt shall not increase as a result of any such
extension, renewal or replacement and (y) Liens resulting from any such
extension, renewal or replacement shall cover only such property which secured
the Debt that is being extended, renewed or replaced; and
(ix) Liens
on
any real property owned by the Borrower or any of its Subsidiaries on the
Closing Date to secure Debt financing the acquisition of or construction of
improvements on such real property, provided that the amount of such Debt does
not exceed 100% of the fair market value of the real property encumbered by
such
Lien at the time such Debt is incurred.
(b) Restrictions
on Fundamental Changes. The Borrower will not, and will not
permit any of its Subsidiaries to, merge or consolidate with or into, or convey,
transfer, lease or otherwise dispose of (whether in one transaction or in a
series of transactions) all or a substantial portion of its assets (whether
now
owned or hereafter acquired) to any Person (other than the Borrower or any
Subsidiary of the Borrower, so long as the Borrower, directly or indirectly,
owns 80% or more of the voting stock thereof), or enter into any partnership,
joint venture, syndicate, pool or other combination, unless (a) no Default
has occurred and is continuing or would result therefrom and (b) in the
case of any consolidation or merger involving the Borrower, either (i) the
Borrower is the surviving entity or (ii) the Person surviving or resulting
from such consolidation or merger shall have assumed the obligations of the
Borrower hereunder in an agreement or instrument reasonably satisfactory in
form
and substance to the Lenders.
34
(c) Financial
Covenants.
(i) Minimum
Interest Coverage Ratio. The Borrower will not permit at the end
of any quarterly financial reporting period the ratio of Consolidated EBITDA
to
Consolidated Interest Expense for the period of four consecutive fiscal quarters
ending on the last day of such quarterly financial reporting period, to be
less
than 3.00 to 1.00.
(ii) Consolidated
Total Debt to Consolidated EBITDA Ratio. The Borrower will not
permit at the end of any quarterly financial reporting period the ratio of
Consolidated Total Debt as of the last day of such quarterly financial reporting
period to Consolidated EBITDA for the period of four consecutive fiscal quarters
ending on the last day of such quarterly financial reporting period, to exceed
3.00 to 1.00.
(d) Amendments
or Waivers of Acquisition Agreement. Neither the Borrower nor any
of its Subsidiaries will agree to any material amendment to, or waive any of
its
material rights under, the Acquisition Agreement after the Closing Date without
in each case obtaining the prior written consent of each Lender to such
amendment or waiver.
Section
5.03 Borrower
Materials. Documents required to be
delivered pursuant to this Article V (to the extent any such documents are
included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered
on
the date (a) on which the Borrower posts such documents, or provides a link
thereto on the Borrower's website located at xxxx://xxx.xxx.xxx and
through the SEC’s XXXXX system; or (b) on which such documents are posted on the
Borrower's behalf on an Internet or intranet website, if any, to which each
Lender and the Agent have access (whether a commercial, third-party website
or
whether sponsored by the Agent); provided that: (i) the Borrower shall
deliver paper copies of such documents to the Agent or any Lender that requests
the Borrower to deliver such paper copies until a written request to cease
delivering paper copies is given by the Agent or such Lender and (ii) the
Borrower shall notify the Agent and each Lender (by telecopier or electronic
mail) of the posting of any such documents and provide to the Agent by
electronic mail electronic versions (i.e., soft copies) of such
documents. The Agent shall have no obligation to request the delivery
or to maintain copies of the documents referred to above, and in any event
shall
have no responsibility to monitor compliance by the Borrower with any such
request for delivery, and each Lender shall be solely responsible for requesting
delivery to it or maintaining its copies of such documents.
35
The
Borrower hereby
acknowledges that (a) the Agent and/or the Joint Lead Arrangers and/or the
Joint
Bookrunners will make available to the Lenders materials and/or information
provided by or on behalf of the Borrower hereunder (collectively, “Borrower
Materials”) by posting the Borrower Materials on IntraLinks or another
similar electronic system (the “Platform”) and (b) certain of the Lenders
may be “public-side” Lenders (i.e., Lenders that do not wish to
receive material non-public information with respect to the Borrower or its
securities) (each, a “Public Lender”). The Borrower hereby
agrees that (1) all Borrower Materials that are to be made available to Public
Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum,
shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof; (2) by marking Borrower Materials “PUBLIC,” the Borrower shall be
deemed to have authorized the Agent, the Joint Lead Arrangers and Joint
Bookrunners and the Lenders to treat the Borrower Materials as not containing
any material non-public information with respect to the Borrower or its
securities for purposes of United States Federal and state securities laws
(provided, however, that to the extent the Borrower Materials
constitute Information, they shall be treated as set forth in Section 8.16;
(3)
all Borrower Materials marked “PUBLIC” are permitted to be made available
through a portion of the Platform designated “Public Investor”; and (4) the
Agent, the Joint Lead Arrangers and the Joint Bookrunners shall be entitled
to
treat any Borrower Materials that are not marked “PUBLIC” as being suitable only
for posting on a portion of the Platform not designated “Public
Investor.”
ARTICLE
VI
EVENTS
OF DEFAULT
Section
6.01 Events
of Default. If any of the following
events (“Events of Default”) shall occur and be continuing:
(a) The
Borrower shall fail to pay any principal of any Advance when the same becomes
due and payable or the Borrower shall fail to pay any interest on any Advance
or
any fees or other amounts payable hereunder within five days of the date due;
or
(b) Any
representation or warranty made by the Borrower herein or in connection with
this Agreement shall prove to have been incorrect in any material respect when
made; or
(c) The
Borrower shall fail to perform or observe (i) any term, covenant or
agreement contained in Section 5.01(c) or 5.02, or (ii) any other
term, covenant or agreement contained in this Agreement on its part to be
performed or observed if the failure to perform or observe such other term,
covenant or agreement shall remain unremedied for 30 days after the Borrower
obtains knowledge of such breach; or
(d) The
Borrower or any of its Subsidiaries shall fail to pay any principal of or
premium or interest on any Debt and any guaranties of third-party indebtedness
which is outstanding in a principal amount of at least $100,000,000 in the
aggregate (but excluding Debt arising under this Agreement) of the Borrower
or
such Subsidiary (as the case may be), when the same becomes due and payable
(whether by scheduled maturity, required prepayment, acceleration, demand or
otherwise), and such failure shall continue after the applicable grace period,
if any, specified in the agreement or instrument relating to such Debt or
guaranty; or any other event shall occur or condition shall exist under any
agreement or instrument relating to any such Debt and shall continue after
the
applicable grace period, if any, specified in such agreement or instrument,
if
the effect of such event or condition is to accelerate, or to permit the
acceleration of, the maturity of such Debt; or any such Debt shall be declared
to be due and payable, or required to be prepaid (other than by a regularly
scheduled required prepayment or by a required prepayment of insurance proceeds
or by a required prepayment as a result of formulas based on asset sales or
excess cash flow), redeemed, purchased or defeased, or an offer to prepay,
redeem, purchase or defease such Debt shall be required to be made, in each
case
prior to the stated maturity thereof, or there shall have occurred a Potential
Event of Default or an Event of Default (each as defined in the Long Term Credit
Agreement) under the Long Term Credit Agreement; or
36
(e) The
Borrower or any of its Significant Subsidiaries shall generally not pay its
debts as such debts become due, or shall admit in writing its inability to
pay
its debts generally, or shall make a general assignment for the benefit of
creditors; or any proceeding shall be instituted by or against the Borrower
or
any of its Significant Subsidiaries seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement,
adjustment, protection, relief, or composition of it or its debts under any
law
relating to bankruptcy, insolvency or reorganization or relief of debtors,
or
seeking the entry of an order for relief or the appointment of a receiver,
trustee, custodian or other similar official for it or for substantial part
of
its property and, in the case of any such proceeding instituted against it
(but
not instituted by it), either such proceeding shall remain undismissed or
unstayed for a period of 60 days, or any of the actions sought in such
proceeding (including, without limitation, the entry of an order for relief
against, or the appointment of a receiver, trustee, custodian or other similar
official for, it or for any substantial part of its property) shall occur;
or
the Borrower or any of its Significant Subsidiaries shall take any corporate
or
partnership action to authorize any of the actions set forth above in this
subsection (e); or
(f) Any
judgment or order for the payment of money in excess of $100,000,000 shall
be
rendered against the Borrower or any of its Significant Subsidiaries and is
not
promptly paid by the Borrower or any of its Significant Subsidiaries and either
(i) enforcement proceedings shall have been commenced by any creditor upon
such judgment or order or (ii) there shall be any period of 10 consecutive
days during which a stay of enforcement of such judgment or order, by reason
of
a pending appeal or otherwise, shall not be in effect; or
(g)
(i) There
occurs one or more ERISA Events which individually or in the aggregate results
in or might reasonably be expected to result in liability to the Borrower or
any
of its ERISA Affiliates in excess of $100,000,000 during the term of this
Agreement; or
(ii) The
Borrower or any ERISA Affiliate shall have been notified by the sponsor of
a
Multiemployer Plan that it has incurred an aggregate Withdrawal Liability for
all years to such Multiemployer Plan in an amount that, when aggregated with
all
other amounts required to be paid to Multiemployer Plans by the Borrower and
its
ERISA Affiliates as Withdrawal Liability (determined as of the date of such
notification), exceeds $100,000,000; or
37
(iii) The
Borrower or any ERISA Affiliate shall have been notified by the sponsor of
a
Multiemployer Plan that such Multiemployer Plan is in reorganization or is
being
terminated, within the meaning of Title IV or ERISA, if as a result of such
reorganization or termination the aggregate annual contributions of the Borrower
and its ERISA Affiliates to all Multiemployer Plans that are then in
reorganization or being terminated have been or will be increased over the
amounts contributed to such Multiemployer Plans for the plan year of such
Multiemployer Plan immediately preceding the plan year in which the
reorganization or termination occurs by an amount exceeding $100,000,000;
or
(h) Any
Person or two or more Persons acting in concert shall have acquired beneficial
ownership (within the meaning of Rule 13d-3 of the SEC under the Securities
Exchange Act of 1934, as amended), directly or indirectly, of securities of
the
Borrower (or other securities convertible into such securities) representing
35%
or more of the combined voting power of all securities of the Borrower entitled
to vote in the election of directors, other than securities having such power
only by reason of the happening of a contingency; or
(i) The
Borrower or any of its Subsidiaries shall be suspended or debarred by any
governmental entity from entering into any government contract or government
subcontract from otherwise engaging in any business relating to government
contracts or from participation in government non-procurement programs, and
such
suspension or debarment could reasonably be expected to have a material adverse
effect on the business, condition (financial or otherwise), operations or
properties of the Borrower and its Subsidiaries, taken as a whole;
or
(m) The
Acquisition shall be unwound, reversed or otherwise rescinded in whole or in
party for any reason;
then,
and
in any such event, the Agent (i) shall at the request, or may with the
consent, of the Majority Lenders, by notice to the Borrower, declare the
obligation of each Lender to make Advances to be terminated, whereupon the
same
shall forthwith terminate, and (ii) shall at the request, or may with the
consent, of the Majority Lenders, by notice to the Borrower, declare the
Advances, all interest thereon and all other amounts payable under this
Agreement, to be forthwith due and payable, whereupon the Advances, all such
interest and all such amounts, shall become and be forthwith due and payable,
without presentment, demand, protest or further notice of any kind, all of
which
are here expressly waived by the Borrower; provided, however, that
in the event of an actual or deemed entry of an order for relief with respect
to
the Borrower or any of its Significant Subsidiaries under the Federal Bankruptcy
Code, (A) the obligation of each Lender to make Advances shall
automatically be terminated and (B) the Advances, all such interest and all
such amounts, shall automatically become and be due and payable, without
presentment, demand, protest or any notice of any kind, all of which are hereby
expressly waived by the Borrower.
38
ARTICLE
VII
THE
AGENT
Section
7.01 Appointment
and Authority. Each of the Lenders
hereby irrevocably appoints Bank of America to act on its behalf as the Agent
hereunder and authorizes the Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Agent by the terms hereof, together
with such actions and powers as are reasonably incidental
thereto. The provisions of this Article are solely for the benefit of
the Agent and the Lenders, and the Borrower shall not have rights as a third
party beneficiary of any of such provisions.
Section
7.02 Rights
as a Lender. The Person serving as the
Agent hereunder shall have the same rights and powers in its capacity as a
Lender as any other Lender and may exercise the same as though it were not
the
Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving
as the Agent hereunder in its individual capacity. Such Person and
its Affiliates may accept deposits from, lend money to, act as the financial
advisor or in any other advisory capacity for and generally engage in any kind
of business with the Borrower or any of its Subsidiaries or other Affiliate
thereof as if such Person were not the Agent hereunder and without any duty
to
account therefore to the Lenders.
Section
7.03 Exculpatory
Provisions. The Agent shall not have
any duties or obligations except those expressly set forth
herein. Without limiting the generality of the foregoing, the
Agent:
(a) shall
not
be subject to any fiduciary or other implied duties, regardless of whether
a
Default has occurred and is continuing;
(b) shall
not
have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby
that the Agent is required to exercise as directed in writing by the Majority
Lenders (or such other number or percentage of the Lenders as shall be expressly
provided for herein), provided that the Agent shall not be required to
take any action that, in its opinion or the opinion of its counsel, may expose
the Agent to liability or that is contrary to applicable law; and
(c) shall
not, except as expressly set forth herein, have any duty to disclose, and shall
not be liable for the failure to disclose, any information relating to the
Borrower or any of their Affiliates that is communicated to or obtained by
the
Person serving as the Agent or any of its Affiliates in any
capacity.
The
Agent
shall not be liable for any action taken or not taken by it (i) with the consent
or at the request of the Majority Lenders (or such other number or percentage
of
the Lenders as shall be necessary, or as the Agent shall believe in good faith
shall be necessary, under the circumstances as provided in Sections 8.01 and
6.01) or (ii) in the absence of its own gross negligence or willful
misconduct. The Agent shall be deemed not to have knowledge of any
Default unless and until notice describing such Default is given to the Agent
by
the Borrower or a Lender.
39
The
Agent
shall not be responsible for or have any duty to ascertain or inquire into
(i)
any statement, warranty or representation made in or in connection with this
Agreement, (ii) the contents of any certificate, report or other document
delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions
set
forth herein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition
set
forth in Article III or elsewhere herein, other than to confirm receipt of
items
expressly required to be delivered to the Agent.
Section
7.04 Reliance
by Agent. The Agent shall be entitled
to rely upon, and shall not incur any liability for relying upon, any notice,
request, certificate, consent, statement, instrument, document or other writing
(including any electronic message, Internet or intranet website posting or
other
distribution) believed by it to be genuine and to have been signed, sent or
otherwise authenticated by the proper Person. The Agent also may rely
upon any statement made to it orally or by telephone and believed by it to
have
been made by the proper Person, and shall not incur any liability for relying
thereon. In determining compliance with any condition hereunder to
the extension of an Advance that by its terms must be fulfilled to the
satisfaction of a Lender, the Agent may presume that such condition is
satisfactory to such Lender unless the Agent shall have received notice to
the
contrary from such Lender prior to the extension of such Advance. The
Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice
of
any such counsel, accountants or experts.
Section
7.05 Delegation
of Duties. The Agent may perform any
and all of its duties and exercise its rights and powers hereunder by or through
any one or more sub-agents appointed by the Agent. The Agent, and any
such sub-agent, may perform any and all of its duties and exercise its rights
and powers by or through their respective Related Parties. The
exculpatory provisions of this Article shall apply to any such sub-agent and
to
the Related Parties of the Agent and any such sub-agent, and shall apply to
their respective activities in connection with the syndication of the credit
facilities provided for herein as well as activities as Agent.
Section
7.06 Resignation
of Agent. The Agent may at any time
give notice of its resignation to the Lenders and the Borrower. Upon
receipt of any such notice of resignation, the Majority Lenders shall have
the
right, in consultation with the Borrower, to appoint a successor, which shall
be
a bank with an office in the United States, or an Affiliate of any such bank
with an office in the United States. If no such successor shall have
been so appointed by the Majority Lenders and shall have accepted such
appointment within 30 days after the retiring Agent gives notice of its
resignation, then the retiring Agent may on behalf of the Lenders, appoint
a
successor Agent meeting the qualifications set forth above; provided that
if the Agent shall notify the Borrower and the Lenders that no qualifying Person
has accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (a) the retiring Agent shall be
discharged from its duties and obligations hereunder and (b) all payments,
communications and determinations provided to be made by, to or through the
Agent shall instead be made by or to each Lender directly, until such time
as
the Majority Lenders appoint a successor Agent as provided for above in this
Section. Upon the acceptance of a successor’s appointment as Agent
hereunder, such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring (or retired) Agent, and
the retiring Agent shall be discharged from all of its duties and obligations
hereunder (if not already discharged therefrom as provided above in this
Section). The fees payable by the Borrower to a successor Agent shall
be the same as those payable to its predecessor unless otherwise agreed between
the Borrower and such successor. After the retiring Agent’s
resignation hereunder, the provisions of this Article and Section 8.04 shall
continue in effect for the benefit of such retiring Agent, its sub-agents and
their respective Related Parties in respect of any actions taken or omitted
to
be taken by any of them while the retiring Agent was acting as
Agent.
40
Section
7.07 Non-Reliance
on Agent and Other Lenders. Each Lender
acknowledges that it has, independently and without reliance upon the Agent
or
any other Lender or any of their Related Parties and, based on such documents
and information as it has deemed appropriate, made its own credit analysis
and
decision to enter into this Agreement. Each Lender also acknowledges
that it will, independently and without reliance upon the Agent or any other
Lender or any of their Related Parties and based on such documents and
information as it shall from time to time deem appropriate, continue to make
its
own decisions in taking or not taking action under or based upon this Agreement
or any related agreement or any document furnished hereunder or
thereunder.
Section
7.08 No
Other Duties, Etc. Anything herein to the
contrary notwithstanding, none of the Syndication Agent, Senior Managing Agent,
Joint Lead Arrangers or Joint Bookrunners listed on the cover page hereof shall
have any powers, duties or responsibilities under this Agreement, except in
its
capacity, as applicable, as the Agent or a Lender.
ARTICLE
VIII
MISCELLANEOUS
Section
8.01 Amendments,
Etc.
No
amendment or waiver of any provision
of this Agreement, and no consent to any departure by the Borrower therefrom,
shall be effective unless in writing signed by the Majority Lenders and the
Borrower, and acknowledged by the Agent, and each such waiver or consent shall
be effective only in the specific instance and for the specific purpose for
which given; provided, however, that no such amendment, waiver or
consent shall:
(a) waive
any
condition set forth in Section 3.01 or Section 3.02(c) without the written
consent of each Lender;
(b) extend
or
increase the Commitment of any Lender without the written consent of such
Lender;
(c) postpone
any date fixed by this Agreement for any payment or mandatory prepayment of
principal, interest, fees or other amounts due to the Lenders (or any of them)
or any scheduled or mandatory reduction of the Aggregate Commitments hereunder
without the written consent of each Lender directly affected
thereby;
41
(d) reduce
the principal of, or the rate of interest specified herein on, any Advance,
or
(subject to clause (ii) of the second proviso to this Section 8.01) any fees
or
other amounts payable hereunder without the written consent of each Lender
directly affected thereby; provided, however, that only the
consent of the Majority Lenders shall be necessary (i) to amend the definition
of “Default Rate” or to waive any obligation of the Borrower to pay interest at
the Default Rate or (ii) to amend any financial covenant hereunder (or any
defined term used therein) even if the effect of such amendment would be to
reduce the rate of interest on any Advance or to reduce any fee payable
hereunder;
(e) change
Section 2.13 in a manner that would alter the pro rata sharing of payments
required thereby without the written consent of each Lender;
(f) change
any provision of this Section or the definition of “Majority Lenders” or the
definition of “Applicable Percentage” or any other provision hereof specifying
the number or percentage of Lenders required to amend, waive or otherwise modify
any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; or
(g) amend
Section 2.05(b) or Section 5.02(d) without the written consent of each
Lender;
and,
providedfurther, that (i) no amendment, waiver or consent shall,
unless in writing and signed by the Agent in addition to the Lenders required
above, affect the rights or duties of the Agent under this Agreement, (ii)
the
Fee Letter may be amended, or rights or privileges thereunder waived, in a
writing executed only by the parties thereto, and (iii) Section 2.17 may not
be
amended, waived or otherwise modified without the consent of each Granting
Lender all or any part of whose Advances are being funded by an SPC at the
time
of such amendment, waiver or other modification. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right
to
approve or disapprove any amendment, waiver or consent hereunder, except that
the Commitment of such Lender may not be increased or extended without the
consent of such Lender.
Section
8.02 Notices,
Etc.
(a) General. Except
in the case of notices and other communications expressly permitted to be given
by telephone (and except as provided in subsection (b) below), all notices
and
other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopier as follows, and all notices and other
communications expressly permitted hereunder to be given by telephone shall
be
made to the applicable telephone number, as follows:
(i) if
to the Borrower or the Agent, to the address, facsimile number, electronic
mail
address or telephone number set forth below, or to such other address, facsimile
number, electronic mail address or telephone number as shall be designated
by
such party in a notice to the other parties:
42
|
Borrower:
|
Computer
Sciences Corporation
0000
Xxxx Xxxxx Xxxxxx
Xx
Xxxxxxx, Xxxxxxxxxx 00000
Attention: Xxxxxx
X. Xxxxx
Phone: (000) 000-0000
Fax: (000) 000-0000
Email: xxxxxx@xxx.xxx
|
|
Agent:
|
Bank
of America, N.A.
|
|
WA1-501-32-37
|
|
000
0xx
Xxxxxx, Xxxxx 00
|
|
Xxxxxxx,
Xxxxxxxxxx 00000
|
|
Attention: Xxxxxx
X. Xxxxxx
|
|
Phone: (000)
000-0000
|
|
Fax: (000)
000-0000
|
(ii) if
to any other Lender, to the address, facsimile number, electronic mail address
or telephone number of its Domestic Lending Office as may be specified opposite
its name on Schedule I hereto (or in the Assignment and Assumption pursuant
to
which it became a Lender), or to such other address, facsimile number,
electronic mail address or telephone number as shall be designated by such
party
in a notice to the Borrower and the Agent.
Notices
sent by hand or overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices sent by
telecopier shall be deemed to have been given when sent (except that, if not
given during normal business hours for the recipient, shall be deemed to have
been given at the opening of business on the next Business Day for the
recipient). Notices delivered through electronic communications to
the extent provided in subsection (b) below, shall be effective as provided
in
such subsection (b).
(b) Electronic
Communications. Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communication (including
e
mail and Internet or intranet websites) pursuant to procedures approved by
the
Agent, provided that the foregoing shall not apply to notices to any
Lender pursuant to Article II if such Lender has notified the Agent that it
is incapable of receiving notices under such Article by electronic
communication. The Agent or the Borrower may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that
approval of such procedures may be limited to particular notices or
communications.
Unless
the Agent otherwise prescribes, (i) notices and other communications sent to
an
e-mail address shall be deemed received upon the sender’s receipt of an
acknowledgement from the intended recipient (such as by the “return receipt
requested” function, as available, return e-mail or other written
acknowledgement), provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business
on
the next Business Day for the recipient, and (ii) notices or communications
posted to an Internet or intranet website shall be deemed received upon the
deemed receipt by the intended recipient at its e-mail address as described
in
the foregoing clause (i) of notification that such notice or communication
is
available and identifying the website address therefor.
43
(c) The
Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE
ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE
PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM
THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR
STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR
OTHER
CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER
MATERIALS OR THE PLATFORM. In no event shall the Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to
the Borrower or any Lender, or any other Person for losses, claims, damages,
liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower's or the Agent’s transmission of Borrower Materials
through the Internet, except to the extent that such losses, claims, damages,
liabilities or expenses are determined by a court of competent jurisdiction
by a
final and nonappealable judgment to have resulted from the gross negligence
or
willful misconduct of such Agent Party; provided, however, that in
no event shall any Agent Party have any liability to the Borrower, any Lender
or
any other Person for indirect, special, incidental, consequential or punitive
damages (as opposed to direct or actual damages).
(d) Change
of Address, Etc. Each of the Borrower and the Agent may change
its address, telecopier or telephone number for notices and other communications
hereunder by notice to the other parties hereto. Each other Lender
may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the Borrower and the Agent. In
addition, each Lender agrees to notify the Agent from time to time to ensure
that the Agent has on record (i) an effective address, contact name, telephone
number, telecopier number and electronic mail address to which notices and
other
communications may be sent and (ii) accurate wire instructions for such
Lender. Furthermore, each Public Lender agrees to cause at least one
individual at or on behalf of such Public Lender to at all times have selected
the “Private Side Information” or similar designation on the content declaration
screen of the Platform in order to enable such Public Lender or its delegate,
in
accordance with such Public Lender’s compliance procedures and applicable law,
including United States Federal and state securities laws, to make reference
to
Borrower Materials that are not made available through the “Public Side
Information” portion of the Platform and that may contain material non-public
information with respect to the Borrower or its securities for purposes of
United States Federal or state securities laws.
(e) Reliance
by the Agent and the Lenders. The Agent and the Lenders shall be
entitled to rely and act upon any notices purportedly given by or on behalf
of
the Borrower even if (i) such notices were not made in a manner specified
herein, were incomplete or were not preceded or followed by any other form
of
notice specified herein, or (ii) the terms thereof, as understood by the
recipient, varied from any confirmation thereof. The Borrower shall
indemnify the Agent, each Lender and the Related Parties of each of them from
all losses, costs, expenses and liabilities resulting from the reliance by
such
Person on each notice purportedly given by or on behalf of the
Borrower. All telephonic notices to and other telephonic
communications with the Agent may be recorded by the Agent, and each of the
parties hereto hereby consents to such recording.
44
Section
8.03 No
Waiver; Remedies. No failure on the
part of any Lender or the Agent to exercise, and no delay in exercising, any
right hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right. The remedies herein
provided are cumulative and not exclusive of any remedies provided by
law.
Section
8.04 Expenses;
Indemnity; Damage Waiver.
(a) Costs
and Expenses. The Borrower agrees to pay (i) all reasonable
out-of-pocket expenses incurred by the Agent and its
Affiliates (including the reasonable fees, charges and disbursements
of counsel for the Agent), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement or any amendments, modifications
or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated) and (ii) all out-of-pocket
expenses incurred by the Agent or any Lender (including the fees, charges and
disbursements of any counsel for the Agent or any Lender), in connection with
the enforcement or protection of its rights (A) in connection with this
Agreement, including its rights under this Section, or (B) in connection with
the Advances extended hereunder, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such
Advances.
(b) Indemnification
by the Borrower. The Borrower agrees to indemnify the Agent (and
any sub-agent thereof) and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses (including the fees, charges and
disbursements of any counsel for any Indemnitee), incurred by any Indemnitee
or
asserted against any Indemnitee by any third party or by the Borrower arising
out of, in connection with, or as a result of (i) the execution or delivery
of
this Agreement or any agreement or instrument contemplated hereby or thereby,
the performance by the parties hereto of their respective obligations hereunder
or thereunder or the consummation of the transactions contemplated hereby or
thereby, or, in the case of the Agent (and any sub-agent thereof) and its
Related Parties only, the administration of this Agreement, (ii) any Advance
or
the use or proposed use of the proceeds therefrom, (iii) any actual or alleged
presence or release of hazardous materials on or from any property owned or
operated by the Borrower or any of its Subsidiaries, or any environmental
liability related in any way to the Borrower or any of its Subsidiaries, or
(iv)
any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other
theory, whether brought by a third party or by the Borrower, and regardless
of
whether any Indemnitee is a party thereto; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (A) are determined by a court
of competent jurisdiction by final and nonappealable judgment to have resulted
from the gross negligence or willful misconduct of such Indemnitee or (B) result
from a claim brought by the Borrower against an Indemnitee for breach in bad
faith of such Indemnitee’s obligations hereunder, if the Borrower has obtained a
final and nonappealable judgment in its favor on such claim as determined by
a
court of competent jurisdiction.
45
(c) Reimbursement
by Lenders. To the extent that the Borrower for any reason fails
to indefeasibly pay any amount required under subsection (a) or (b) of this
Section to be paid by it to the Agent (or any sub-agent thereof) or any Related
Party of any of the foregoing, each Lender severally agrees to pay to the Agent
(or any such sub-agent) or such Related Party, as the case may be, such Lender’s
Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or
asserted against the Agent (or any such sub-agent) in its capacity as such,
or
against any Related Party of any of the foregoing acting for the Agent (or
any
such sub-agent) in connection with such capacity.
(d) Waiver
of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Borrower shall not assert, and hereby waive, any claim
against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement or any
agreement or instrument contemplated hereby, the transactions contemplated
hereby, any Advance or the use of the proceeds thereof. No Indemnitee
referred to in subsection (b) above shall be liable for any damages arising
from
the use by unintended recipients of any information or other materials
distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the transactions
contemplated hereby.
(e) Payments. All
amounts due under this Section shall be payable not later than ten Business
Days
after demand therefor.
(f) Survival. The
agreements in this Section shall survive the resignation of the Agent, the
replacement of any Lender, the termination of the Aggregate Commitments and
the
repayment, satisfaction or discharge of all the other obligations
hereunder.
Section
8.05 Right
of Set-off. Upon (i) the
occurrence and during the continuance of any Event of Default and (ii) the
making of the request or the granting of the consent specified by
Section 6.01 to authorize the Agent to declare the Advances due and payable
pursuant to the provisions of Section 6.01, each Lender is hereby
authorized at any time and from time to time, to the fullest extent permitted
by
law, to set off and apply any and all deposits (time or demand, provisional
or
final, or general, but not special) at any time held and other indebtedness
at
any time owing by such Lender or any Affiliate thereof to or for the credit
or
the account of the Borrower against any and all of the obligations of the
Borrower now or hereafter existing under this Agreement that are then due and
payable, whether or not such Lender shall have made any demand under this
Agreement, and each such Affiliate is hereby irrevocably authorized to permit
such setoff and application. Each Lender agrees promptly to notify
the Borrower after any such set-off and application made by such Lender,
provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of each Lender
under this Section are in addition to other rights and remedies (including,
without limitation, other rights of set-off) which such Lender may
have.
46
Section
8.06 Binding
Effect. This Agreement shall be deemed
to have been executed and delivered when it shall have been executed by the
Borrower and the Agent and when the Agent shall have been notified by each
Bank
that such Bank has executed it and thereafter shall be binding upon and inure
to
the benefit of the Borrower, the Agent and each Lender and their respective
successors and permitted assigns, except that the Borrower shall not have the
right to assign its rights or obligations hereunder or any interest herein
without the prior written consent of all Lenders. This Agreement and
the fee letter referred to in Section 2.03(b) constitute the entire
contract among the parties relating to the subject matter hereof and supersede
any and all previous agreements and understandings, oral or written, relating
to
the subject matter hereof.
Section
8.07 Assignments
and Participations.
(a) Successors
and Assigns Generally. The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that the Borrower may not assign
or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of the Agent and each Lender and no Lender may assign
or
otherwise transfer any of its rights or obligations hereunder except (i) to
an
Eligible Assignee in accordance with the provisions of subsection (b) of this
Section or (ii) by way of participation in accordance with the provisions of
subsection (d) of this Section (and any other attempted assignment or transfer
by any party hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns
permitted hereby, Participants to the extent provided in subsection (d) of
this
Section and, to the extent expressly contemplated hereby, the Related Parties
of
each of the Agent and the Lenders) any legal or equitable right, remedy or
claim
under or by reason of this Agreement.
(b) Assignments
by Lenders. Any Lender may at any time assign to one or more
Eligible Assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitment and the Advances at
the
time owing to it); provided that
(i) except
in
the case of an assignment of the entire remaining amount of the assigning
Lender’s Commitment and the Advances at the time owing to it or in the case of
an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with
respect to a Lender, the aggregate amount of the Commitment (which for this
purpose includes Advances outstanding thereunder) or, if the Commitment is
not
then in effect, the principal outstanding balance of the Advances of the
assigning Lender subject to each such assignment, determined as of the date
the
Assignment and Assumption with respect to such assignment is delivered to the
Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of
the Trade Date, shall not be less than $10,000,000 and increments of
$1,000,000, unless each of the Agent and, so long as no
Event of Default has occurred and is continuing, the Borrower otherwise consent
(each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group
and
concurrent assignments from members of an Assignee Group to a single Eligible
Assignee (or to an Eligible Assignee and members of its Assignee Group) will
be
treated as a single assignment for purposes of determining whether such minimum
amount has been met;
47
(ii) each
partial
assignment shall be made as an assignment of a proportionate part of all
the
assigning Lender’s rights and obligations under this Agreement with respect to
the Advances or the Commitment assigned;
(iii) any
assignment of a Commitment must be approved by the Agent unless the Person
that
is the proposed assignee is itself a Lender (whether or not the proposed
assignee would otherwise qualify as an Eligible Assignee); and
(iv) the
parties
to each assignment shall execute and deliver to the Agent an Assignment
and
Assumption, together with a processing and recordation fee of $3,500,
and the
Eligible Assignee, if it shall not be a Lender, shall deliver to the
Agent an
Administrative Questionnaire.
Subject
to acceptance and recording thereof by the Agent pursuant to subsection (c)
of
this Section, from and after the effective date specified in each Assignment
and
Assumption, the Eligible Assignee thereunder shall be a party to this Agreement
and, to the extent of the interest assigned by such Assignment and Assumption,
have the rights and obligations of a Lender under this Agreement, and the
assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of
the
assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto) but shall continue to be entitled to the
benefits of Sections 2.09, 2.10, 2.12 and 8.04 with respect to facts and
circumstances occurring prior to the effective date of such
assignment. Upon request, the Borrower (at its expense) shall execute
and deliver a promissory note to the assignee Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that
does
not comply with this subsection shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations
in
accordance with subsection (d) of this Section.
(c) Register. The
Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at the Agent’s Office a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses
of
the Lenders, and the Commitments of, and principal amounts of the Advances
owing
to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive,
and the Borrower, the Agent and the Lenders may treat each Person whose name
is
recorded in the Register pursuant to the terms hereof as a Lender hereunder
for
all purposes of this Agreement, notwithstanding notice to the
contrary. The Register shall be available for inspection by each of
the Borrower at any reasonable time and from time to time upon reasonable prior
notice. In addition, at any time that a request for a consent for a material
or
substantive change to this Agreement is pending, any Lender may request and
receive from the Agent a copy of the Register.
48
(d) Participations. Any
Lender may at any time, without the consent of, or notice to, the Borrower
or
the Agent, sell participations to any Person (other than a natural person or
the
Borrower or any of the Borrower's Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including, without limitation, all or a
portion of its Commitment and/or the Advances owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations and (iii) the Borrower, the
Agent and the Lenders shall continue to deal solely and directly with such
Lender in connection with such Lender’s rights and obligations under this
Agreement.
Any
agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of
any provision of this Agreement; provided that such agreement
or instrument may provide that such Lender will not, without the consent of
the
Participant, agree to any amendment, waiver or other modification described
in
the first proviso to Section 8.01 that affects such
Participant. Subject to subsection (e) of this Section, the Borrower
agrees that each Participant shall be entitled to the benefits of 2.09, 2.10
and
2.12 to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to subsection (b) of this
Section. To the extent permitted by law, each Participant also shall
be entitled to the benefits of Section 8.05 as though it were a
Lender, provided such Participant agrees to be subject to Section 2.13 as
though it were a Lender.
(e) Limitations
upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 2.09 or 2.12 than the applicable
Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such
Participant is made with the Borrower's prior written consent. A
Participant that would be a Foreign Lender if it were a Lender shall not be
entitled to the benefits of Section 2.12 unless the Borrower are notified of
the
participation sold to such Participant and such Participant agrees, for the
benefit of the Borrower, to comply with Section 2.12 as though it were a
Lender.
(f) Certain
Pledges. Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement (including
under its Note, if any) to secure obligations of such Lender, including any
pledge or assignment to secure obligations to a Federal Reserve Bank; provided
that no such pledge or assignment shall release such Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto.
(g) Electronic
Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be
deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for
in
any applicable law, including the Federal Electronic Signatures in Global and
National Commerce Act, the New York State Electronic Signatures and Records
Act,
or any other similar state laws based on the Uniform Electronic Transactions
Act.
49
Section
8.08 Governing
Law. This Agreement shall be governed
by, and construed in accordance with, the laws of the State of New
York.
Section
8.09 Execution
in Counterparts. This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be
an
original and all of which taken together shall constitute one and the same
agreement.
Section
8.10 Consent
to Jurisdiction; Waiver of
Immunities. The Borrower hereby
irrevocably submits to the jurisdiction of any New York state or Federal court
sitting in New York, New York in any action or proceeding arising out of or
relating to this Agreement, and the Borrower hereby irrevocably agrees that
all
claims in respect of such action or proceeding may be heard and determined
in
such New York state or Federal court. The Borrower hereby irrevocably
waives, to the fullest extent they may effectively do so, the defense of an
inconvenient forum to the maintenance of such action or
proceeding. The Borrower agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by
law. Nothing in this Section 9.10 shall affect the right of any
Lender or the Agent to serve legal process in any other manner permitted by
law
or affect the right of any Lender or the Agent to bring any action or proceeding
against the Borrower or its property in the courts of any other
jurisdiction.
Section
8.11 Waiver
of Trial by Jury. EACH PARTY HERETO
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
Section
8.12 Survival
of Representations and Warranties. All representations
and warranties made hereunder and in any other document delivered pursuant
hereto or in connection herewith shall survive the execution and delivery
hereof. Such representations and warranties have been or will be
relied upon by the Agent and each Lender, regardless of any investigation made
by the Agent or any Lender or on their behalf and notwithstanding that the
Agent
or any Lender may have had notice or knowledge of any Default at the time of
any
extension of any Advance, and shall continue in full force and effect as long
as
any Advance or any other obligation hereunder shall remain unpaid or
unsatisfied.
Section
8.13 Severability. In
case any provision in or obligation under this Agreement shall be invalid,
illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision
or obligation in any other jurisdiction, shall not in any way be affected or
impaired thereby.
50
Section
8.14 Headings. Section
and subsection headings in this Agreement are included herein for convenience
of
reference only and shall not constitute a part of this Agreement for any other
purpose or be given any substantive effect.
Section
8.15 USA
PATRIOT Act Notice. Each Lender that is subject to the
Act (as hereinafter defined) and the Agent (for itself and not on behalf of
any
Lender) hereby notifies the Borrower that pursuant to the requirements of the
USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”), it is required to obtain, verify and record information that
identifies the Borrower, which information includes the name and address of
the
Borrower and other information that will allow such Lender or the Agent, as
applicable, to identify the Borrower in accordance with the Act.
Section
8.16 Treatment
of Certain Information;
Confidentiality. Each of the Agent and
the Lenders agree to maintain the confidentiality of the Information (as defined
below), except that Information may be disclosed (a) to its Affiliates and
to
its and its Affiliates’ respective partners, directors, officers, employees,
agents, advisors and representatives (it being understood that the Persons
to
whom such disclosure is made will be informed of the confidential nature of
such
Information and instructed to keep such Information confidential), (b) to the
extent requested by any regulatory authority purporting to have jurisdiction
over it (including any self-regulatory authority, such as the National
Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process,
(d)
to any other party hereto, (e) in connection with the exercise of any remedies
hereunder or any action or proceeding relating to this Agreement or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i)
any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any actual
or
prospective counterparty (or its advisors) to any swap or derivative transaction
relating to the Borrower and its obligations, (g) with the consent of the
Borrower or (h) to the extent such Information (i) becomes publicly available
other than as a result of a breach of this Section or (ii) becomes available
to
the Agent or any Lender or any of their respective Affiliates on a
nonconfidential basis from a source other than the Borrower.
For
purposes of this Section, “Information” means all information received
from the Borrower or any of its Subsidiaries or any of their respective
businesses, other than any such information that is available to the Agent
or
any Lender on a nonconfidential basis prior to disclosure by the Borrower or
any
of its Subsidiaries, provided that, in the case of information received
from the Borrower or any of its Subsidiaries after the date hereof, such
information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of
care to maintain the confidentiality of such Information as such Person would
accord to its own confidential information.
Each
of
the Agent and the Lenders acknowledge that (a) the Information may include
material non-public information concerning the Borrower or any of its
Subsidiaries, as the case may be, (b) it has developed compliance procedures
regarding the use of material non-public information and (c) it will handle
such
material non-public information in accordance with applicable law, including
Federal and state securities laws.
51
[Remainder
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52
IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered by their respective authorized officers as of the
date first written above.
COMPUTER
SCIENCES CORPORATION, a Nevada corporation, as the
Borrower
By
/s/ Xxxxxx X.
Xxxxx
Name:
Xxxxxx X. Xxxxx
Title:
Treasurer
S-1
BANK
OF AMERICA, N.A.,
as
Agent
By
/s/ Xxxxxx X.
Xxxxxx
Name:
Xxxxxx X. Xxxxxx
Title:
Assistant Vice President
BANK
OF AMERICA, N.A.,
as
a
Lender
By
/s/ Xxxx X. Xxxxxx
Name: Xxxx
X. Xxxxxx
Title:
Managing Director
S-2
BARCLAYS
BANK PLC,
as
a
Lender
By
/s/ Xxxxxxxx X.
Xxxx
Name:
Xxxxxxxx X. Xxxx
Title:
Director
S-3
XXXXXXX
XXXXX CAPITAL CORPORATION,
as
a
Lender
By
/s/ Xxxxxxx
Xxxxxx
Name:
Xxxxxxx Xxxxxx
Title:
Vice President
S-4
SCHEDULE
I
APPLICABLE
LENDING OFFICES
Lender
|
Domestic
Lending Office
|
Eurodollar
Lending Office
|
Bank
of America, N.A.
|
Operations
Contact:
Bank
of America NA
CA4-702-02-25
0000
Xxxxxxx Xxxx Xxxxx 0
Xxxxxxx,
XX 00000
Attention: Xxx
Xxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Bank
of America, N.A.
ABA
#000000000
Account
Name: Corporate FTA
Account
Number: 3750836479
Attention: Xxx
Xxxxx
Reference: Computer
Sciences Corporation
Credit
Contact:
Xxxx
Xxxxxx, Managing Director
Technology
Banking Group
Bank
of America, N.A.
Mail
code CA5-801-13-09
000
Xxxxxxxxxx Xxxxxx, 00xx Xxxxx
Xxx
Xxxxxxxxx, XX 00000
Telephone
No: (000) 000-0000
Facsimile
No: (000) 000-0000
Email:
xxxx.xxxxxx@xxxxxxxxxxxxx.xxx
|
Bank
of America NA
CA4-702-02-25
0000
Xxxxxxx Xxxx Xxxxx 0
Xxxxxxx,
XX 00000
Attention: Xxx
Xxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Bank
of America, N.A.
ABA
#000000000
Account
Name: Corporate FTA
Account
Number: 3750836479
Attention: Xxx
Xxxxx
Reference: Computer
Sciences Corporation
Xxxx
Xxxxxx, Managing Director
Technology
Banking Group
Bank
of America, N.A.
Mail
code CA5-801-13-09
000
Xxxxxxxxxx Xxxxxx, 00xx Xxxxx
Xxx
Xxxxxxxxx, XX 00000
Telephone
No: (000) 000-0000
Facsimile
No: (000) 000-0000
Email:
xxxx.xxxxxx@xxxxxxxxxxxxx.xxx
|
Barclays
Bank PLC
|
Operations
Contact:
Barclays
Capital Services LLP
000
Xxxxx Xxxxxx Xxxx
Xxxxxxxx,
XX 00000
Attention: Xxxxx
Xxxxxxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email: Xxxxx.Xxxxxxxxx@xxxxxx.xxx
Credit
Contact:
Barclays
Capital
000
Xxxx Xxxxxx, 0xx
Xxxxx
Xxx
Xxxx, XX 00000
Attention: Xxxxxx
Xxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email: Xxxxxx.Xxxxx@xxxxxxxxxxxxxxx.xxx
|
Barclays
Capital Services LLP
000
Xxxxx Xxxxxx Xxxx
Xxxxxxxx,
XX 00000
Attention: Xxxxx
Xxxxxxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email: Xxxxx.Xxxxxxxxx@xxxxxx.xxx
Barclays
Capital
000
Xxxx Xxxxxx, 0xx
Xxxxx
Xxx
Xxxx, XX 00000
Attention: Xxxxxx
Xxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email: Xxxxxx.Xxxxx@xxxxxxxxxxxxxxx.xxx
|
Xxxxxxx
Xxxxx Capital Corporation
|
Operations
Contact:
Xxxxxxx
Xxxxx Credit Corporation
4
World Financial Center (22nd
Floor)
Xxx
Xxxx, XX 00000
Attention:
Xxxxxxx Xxxxxx, Assistant Vice President
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email:
Xxxxxxx_Xxxxxx@xx.xxx
Credit
Contact:
Xxxxxxx
Xxxxx Credit Corporation
4
World Financial Center (22nd
Floor)
Xxx
Xxxx, XX 00000
Attention:
Xxxxxxx Xxxxxx, Director
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email:
Xxxxxxx_Xxxxxx@xx.xxx
|
Xxxxxxx
Xxxxx Credit Corporation
4
World Financial Center (22nd
Floor)
Xxx
Xxxx, XX 00000
Attention:
Xxxxxxx Xxxxxx, Assistant Vice President
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email:
Xxxxxxx_Xxxxxx@xx.xxx
Xxxxxxx
Xxxxx Credit Corporation
4
World Financial Center (22nd
Floor)
Xxx
Xxxx, XX 00000
Attention:
Xxxxxxx Xxxxxx, Director
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
Email:
Xxxxxxx_Xxxxxx@xx.xxx
|
SCHEDULE
II
LENDERS’
COMMITMENTS
Lender
|
Commitment
|
Bank
of America, N.A.
|
$333,333,334
|
Barclays
Bank PLC
|
$333,333,333
|
Xxxxxxx
Xxxxx Capital Corporation
|
$333,333,333
|
Total
Commitments:
|
$1,000,000,000
|