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Credit Agreement
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Title:
Credit Agreement
Entities:
Date:
2005
Size:
Preview shows 6KB of 378KB total
Price:
$76
ID:
#1000012
► Loans ► Credit Agreements
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                                   FIRST LIEN

                                CREDIT AGREEMENT



                                   dated as of



                                  April 1, 2005



                                      among



                        KRISPY KREME DOUGHNUT CORPORATION



                          KRISPY KREME DOUGHNUTS, INC.



                     The SUBSIDIARY GUARANTORS Party Hereto



                            The LENDERS Party Hereto



                           CREDIT SUISSE FIRST BOSTON

                   as Administrative Agent and Issuing Lender



                                       and



                           WELLS FARGO FOOTHILL, INC.,

            as Collateral Agent, Issuing Lender and Swingline Lender







                                   Arranged by

                           CREDIT SUISSE FIRST BOSTON

                    as Sole Bookrunner and Sole Lead Arranger



                           WELLS FARGO FOOTHILL, INC.,

                              as Syndication Agent



                                       and

                            SILVER POINT FINANCE, LLC

                     as Co-Arranger and Documentation Agent



                                 ______________



                                   $75,000,000

                                 ______________









<PAGE>







                                TABLE OF CONTENTS



                                                                            Page



                                    ARTICLE I



                                   DEFINITIONS



SECTION 1.01.         Defined Terms...........................................1

SECTION 1.02.         Terms Generally........................................25

SECTION 1.03.         Accounting Terms; GAAP; Historical Financial

                        Calculations.........................................25

SECTION 1.04.         Classification of Loans and Borrowings.................26



                                   ARTICLE II



                                   THE CREDITS



SECTION 2.01.         The Commitments........................................26

SECTION 2.02.         Loans and Borrowings...................................26

SECTION 2.03.         Requests for Syndicated Borrowings.....................27

SECTION 2.04.         Swingline Loans........................................28

SECTION 2.05.         Letters of Credit......................................29

SECTION 2.06.         Funding of Borrowings..................................33

SECTION 2.07.         Interest Elections.....................................34

SECTION 2.08.         Termination and Reduction of the Commitments...........35

SECTION 2.09.         Repayment of Loans; Evidence of Debt...................36

SECTION 2.10.         Prepayment of Loans....................................37

SECTION 2.11.         Fees...................................................39

SECTION 2.12.         Interest...............................................40

SECTION 2.13.         Alternate Rate of Interest.............................41

SECTION 2.14.         Increased Costs........................................42

SECTION 2.15.         Break Funding Payments.................................43

SECTION 2.16.         Taxes..................................................43

SECTION 2.17.         Payments Generally; Pro Rata Treatment; Sharing of

                        Set-offs.............................................45

SECTION 2.18.         Mitigation Obligations; Replacement of Lenders.........47



                                   ARTICLE III



                                    GUARANTEE



SECTION 3.01.         The Guarantee..........................................48

SECTION 3.02.         Obligations Unconditional..............................49

SECTION 3.03.         Reinstatement..........................................49

SECTION 3.04.         Subrogation............................................50

SECTION 3.05.         Remedies...............................................50

SECTION 3.06.         Instrument for the Payment of Money....................50





<PAGE>



                                      -2-





SECTION 3.07.         Continuing Guarantee...................................50

SECTION 3.08.         Rights of Contribution.................................50

SECTION 3.09.         General Limitation on Guarantee Obligations............51

SECTION 3.10.         No Reliance............................................51

SECTION 3.11.         Release of Subsidiary Guarantors.......................52



                                   ARTICLE IV



                         REPRESENTATIONS AND WARRANTIES



SECTION 4.01.         Organization; Powers...................................52

SECTION 4.02.         Authorization; Enforceability..........................52

SECTION 4.03.         Governmental Approvals; No Conflicts...................52

SECTION 4.04.         Financial Condition; No Material Adverse Change........53

SECTION 4.05.         Properties.............................................53

SECTION 4.06.         Litigation.............................................53

SECTION 4.07.         Environmental Matters..................................54
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