Project Neon Bridge Facility Commitment LetterBridge Facility Commitment Letter • November 3rd, 2014 • Laboratory Corp of America Holdings • Services-medical laboratories
You (“you” or the “Borrower”) have advised Bank of America, N.A. (“Bank of America”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (or its designated affiliates, “MLPFS” and, together with Bank of America, “BofAML”), Wells Fargo Bank, National Association (“Wells Fargo Bank”), Wells Fargo Securities, LLC (“Wells Fargo Securities” and, together with Wells Fargo Bank, “Wells Fargo”, and, together with BofAML, the “Commitment Parties”, “we” or “us”) that you intend to acquire (the “Acquisition”) all of the outstanding equity interest in Covance Inc. (the “Acquired Business”), through a merger transaction with Neon Merger Sub Inc., and to consummate the other Transactions. In connection therewith, the Borrower intends to obtain a senior unsecured bridge term loan credit facility (the “Bridge Facility”) in an aggregate principal amount of $4,250,000,000 (as such amount may be reduced as set forth in the Term Sheet) comprised of two tranches: (a) a $3,850,000,000 364-day unsecured debt
