FACILITY AGREEMENT Dated: November 2007 BETWEEN: WHEREAS:Facility Agreement • April 11th, 2008 • Teekay Corp • Deep sea foreign transportation of freight
Each of the Lenders has agreed to advance to the A Borrowers (on a joint and several basis in respect of Tranche A) and the B Borrowers (on a joint and several basis in respect of Tranche B) its Commitment (aggregating, with all the other Commitments, a revolving credit facility of up to eight hundred and forty five million Dollars ($845,000,000) as increased from time to time pursuant to the provisions of Clause 2.1.2), Tranche A to be made available to the A Borrowers and Tranche B to be made available to the B Borrowers for (i) refinancing certain existing indebtedness of the Guarantor B Group, (ii) financing the purchase of vessels and (iii) the general
