CREDIT AGREEMENT Dated as of June 1, 2007 Among SCHOLASTIC CORPORATION and SCHOLASTIC INC. as Borrowers and THE INITIAL LENDERS NAMED HEREIN as Initial Lenders and SUNTRUST BANK and THE ROYAL BANK OF SCOTLAND plc as Documentation Agents and BANK OF...Credit Agreement • July 30th, 2007 • Scholastic Corp • Books: publishing or publishing & printing • New York
This CREDIT AGREEMENT is by and among SCHOLASTIC CORPORATION, a Delaware corporation (the “Holding Company”), and SCHOLASTIC INC., a New York corporation (the “Operating Company”; the Holding Company and the Operating Company are, collectively, the “Borrowers” and, individually, each a “Borrower”), the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, SUNTRUST BANK and THE ROYAL BANK OF SCOTLAND plc, as documentation agents, BANK OF AMERICA, N.A. and WACHOVIA BANK, NATIONAL ASSOCIATION, as syndication agents, and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (“JPMCB”), as administrative agent (the “Agent”) for the Lenders (as hereinafter defined). The parties hereto hereby agree as follows:
