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Credit Agreement

 

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Title:

Credit Agreement

Entities:

Banc of America Securities LLC; Cincinnati Bell Inc.; Cingular Wireless LLC; Citicorp USA, Inc.; Citigroup Global Markets Inc.; McGraw-Hill Companies Inc.; PNC Bank, NA; Bank of America, NA; Bank of New York; Cravath, Swaine & Moore LLP

Date:

2005

Size:

Preview shows 100KB of 423KB total

Price:

$99

ID:

#1050488

 

 

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Start of Preview


 

CREDIT AGREEMENT

Dated as of February 16, 2005

as Amended and Restated as of August 31, 2005

among

CINCINNATI BELL INC.,
as the Borrower,

Certain Subsidiaries of the Borrower
from time to time party hereto,
as Guarantors,

BANK OF AMERICA, N.A.,
as Administrative Agent and an L/C Issuer,

PNC BANK, NATIONAL ASSOCIATION
as Swingline Lender and an L/C Issuer,

and

The Other Lenders party hereto

 

 
 

 
 
TABLE OF CONTENTS

Section
 
Page
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
1
1.01
Defined Terms.
1
1.02
Other Interpretive Provisions.
36
1.03
Accounting Terms.
37
1.04
Rounding.
38
1.05
Times of Day.
38
1.06
Letter of Credit Amounts.
38
ARTICLE II
THE COMMITMENTS AND CREDIT EXTENSIONS
38
2.01
Committed Loans.
38
2.02
Borrowings, Conversions and Continuations of Committed Loans.
39
2.03
Letters of Credit.
41
2.04
Swingline Loans
49
2.05
Prepayments.
52
2.06
Termination or Reduction of Aggregate Revolving Commitments.
54
2.07
Repayment of Loans.
55
2.08
Interest.
55
2.09
Fees.
56
2.10
Computation of Interest and Fees.
56
2.11
Evidence of Debt.
57
2.12
Payments Generally; Administrative Agents Clawback.
57
2.13
Sharing of Payments by Lenders.
59
ARTICLE III
TAXES, YIELD PROTECTION AND ILLEGALITY
60
3.01
Taxes.
60
3.02
Illegality.
62
3.03
Inability to Determine Rates.
63
3.04
Increased Costs.
63
3.05
Compensation for Losses; Breakage Payments.
65
3.06
Mitigation Obligations; Replacement of Lenders.
66
3.07
Survival.
66
ARTICLE IV
GUARANTY
66
4.01
The Guaranty.
66
4.02
Obligations Unconditional.
67
4.03
Reinstatement.
68
4.04
Certain Additional Waivers.
68
4.05
Remedies.
69
4.06
Rights of Contribution.
69
4.07
Guarantee of Payment; Continuing Guarantee.
69
ARTICLE V CONDITIONS
PRECEDENT TO CREDIT EXTENSIONS
69
5.01
Conditions of Closing Date and Initial Credit Extension.
69
5.02
Conditions to all Credit Extensions.
72
ARTICLE VI
REPRESENTATIONS AND WARRANTIES
73
6.01
Existence, Qualification and Power.
73
 
 
 
i

 
 
6.02
Authorization; No Contravention.
73
6.03
Governmental Authorization; Other Consents.
73
6.04
Binding Effect.
74
6.05
Financial Statements; No Material Adverse Effect.
74
6.06
Litigation.
75
6.07
No Default.
75
6.08
Ownership of Property; Liens.
75
6.09
Environmental Compliance.
75
6.10
Insurance.
76
6.11
Taxes.
76
6.12
ERISA Compliance.
77
6.13
Capital Structure/Subsidiaries.
77
6.14
Margin Regulations; Investment Company Act; Public Utility Holding Company Act.
77
6.15
Disclosure.
77
6.16
Compliance with Laws.
78
6.17
Intellectual Property.
78
6.18
Solvency.
78
6.19
Telecommunications Regulatory Matters.
78
ARTICLE VII
AFFIRMATIVE COVENANTS
79
7.01
Financial Statements.
79
7.02
Certificates; Other Information.
80
7.03
Notices and Information.
81
7.04
Payment of Obligations.
82
7.05
Preservation of Existence, Etc.
82
7.06
Maintenance of Properties.
83
7.07
Maintenance of Insurance.
83
7.08
Compliance with Laws and Contractual Obligations.
83
7.09
Books and Records.
83
7.10
Inspection Rights.
84
7.11
Use of Proceeds.
84
7.12
Additional Guarantors.
84
7.13
Further Assurances.
86
ARTICLE VIII
NEGATIVE COVENANTS
86
8.01
Liens.
87
8.02
Investments.
89
8.03
Indebtedness.
92
8.04
Fundamental Changes.
95
8.05
Dispositions.
96
8.06
Restricted Payments.
96
8.07
Change in Nature of Business.
97
8.08
Transactions with Affiliates and Insiders.
97
8.09
Burdensome Agreements.
98
8.10
Use of Proceeds.
98
8.11
Financial Covenants.
98
 
 
 
ii

 
 
8.12
Prepayment of Other Indebtedness, Amendment of Documents, Etc.
100
8.13
Organization Documents; Fiscal Year.
101
8.14
Ownership of Subsidiaries.
101
8.15
Negative Covenants Applicable to Wireless Holdco.
101
8.16
Designated Senior Indebtedness.
101
ARTICLE IX
EVENTS OF DEFAULT AND REMEDIES
102
9.01
Events of Default.
102
9.02
Remedies Upon Event of Default.
104
9.03
Application of Funds.
105
ARTICLE X
ADMINISTRATIVE AGENT
106
10.01
Appointment and Authority.
106
10.02
Rights as a Lender.
106
10.03
Exculpatory Provisions.
106
10.04
Reliance by Administrative Agent.
107
10.05
Delegation of Duties.
108
10.06
Resignation of Administrative Agent.
108
10.07
Non-Reliance on Administrative Agent and Other Lenders.
109
10.08
No Other Duties, Etc..
109
10.09
Administrative Agent May File Proofs of Claim.
109
10.10
Collateral and Guaranty Matters.
110
ARTICLE XI
MISCELLANEOUS
111
11.01
Amendments, Etc.
111
11.02
Notices. Effectiveness of Electronic Communications.
115
11.03
No Waiver; Cumulative Remedies.