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Credit Agreement
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Title:
Credit Agreement
Entities:
Date:
2003
Size:
Preview shows 5KB of 450KB total
Price:
$94
ID:
#1000083
► Loans ► Credit Agreements
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                                  $150,000,000



                                CREDIT AGREEMENT



                                   DATED AS OF



                                OCTOBER 31, 2003



                                      AMONG



                       KRISPY KREME DOUGHNUT CORPORATION,

                                  AS BORROWER,



                            THE LENDERS PARTY HERETO,



                      WACHOVIA BANK, NATIONAL ASSOCIATION,

                 AS ADMINISTRATIVE AGENT AND AN ISSUING LENDER,



                        BRANCH BANKING AND TRUST COMPANY,

                              AS SYNDICATION AGENT,



                              BANK OF AMERICA, N.A.

                                       AND

                              ROYAL BANK OF CANADA,

                           AS CO-DOCUMENTATION AGENTS,



                                       AND



                         WACHOVIA CAPITAL MARKETS, LLC,

                      AS SOLE LEAD ARRANGER AND BOOK RUNNER



<PAGE>



                                TABLE OF CONTENTS



<TABLE>

<CAPTION>

                                                                                                           PAGE

                                                                                                           ----

<S>                                                                                                        <C>

ARTICLE I.

DEFINITIONS............................................................................................      1

   SECTION 1.01      Definitions.......................................................................      1

   SECTION 1.02      Accounting Terms and Determinations...............................................     18

   SECTION 1.03      Terms Generally...................................................................     19

   SECTION 1.04      Use of Defined Terms..............................................................     19



ARTICLE II.

THE CREDITS............................................................................................     19

   SECTION 2.01      Commitments to Lend...............................................................     19

   SECTION 2.02      Method of Borrowing Term Loans, Revolving Credit Loans and Swing Loans............     22

   SECTION 2.03      Continuation and Conversion Elections.............................................     24

   SECTION 2.04      Notes.............................................................................     24

   SECTION 2.05      Maturity of Revolving Credit Loans................................................     25

   SECTION 2.06      Interest Rates....................................................................     25

   SECTION 2.07      Fees..............................................................................     27

   SECTION 2.08      Optional Termination or Reduction of the Revolving Credit Commitments.............     28

   SECTION 2.09      Termination of the Revolving Credit Commitments...................................     28

   SECTION 2.10      Optional Prepayments..............................................................     28

   SECTION 2.11      Repayment of Term Loans; Mandatory Payments.......................................     29

   SECTION 2.12      General Provisions as to Payments.................................................     30

   SECTION 2.13      Computation of Interest and Fees..................................................     31



ARTICLE III.

LETTER OF CREDIT FACILITY..............................................................................     32

   SECTION 3.01      Obligation to Issue...............................................................     32

   SECTION 3.02      Types and Amounts.................................................................     32

   SECTION 3.03      Conditions........................................................................     32

   SECTION 3.04      Issuance of Letters of Credit.....................................................     33

   SECTION 3.05      Reimbursement Obligations; Duties of the Issuing Lender...........................     33

   SECTION 3.06      Participations....................................................................     34

   SECTION 3.07      Payment of Reimbursement Obligations..............................................     36

   SECTION 3.08      Compensation for Letters of Credit................................................     37

   SECTION 3.09      Indemnification; Exoneration......................................................     37



ARTICLE IV.

CONDITIONS TO BORROWINGS...............................................................................     38

   SECTION 4.01      Conditions to First Borrowing.....................................................     38
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