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Facility Agreement

 

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Title:

Facility Agreement

Entities:

Date:

2005

Size:

190KB total

Price:

$73

ID:

#1069701

 

 

► Loans ► Facility Agreements

 

 

Start of Preview

Exhibit 4.(a).56

FACILITY AGREEMENT

DATED 14TH APRIL, 2005

US $550,000,000
CREDIT FACILITIES

for

PARTNER COMMUNICATIONS COMPANY LTD.
as Borrower

provided by

BANK HAPOALIM B.M.
BANK LEUMI LE-ISRAEL B.M.
ISRAEL DISCOUNT BANK LTD.

and

UNITED MIZRAHI BANK LIMITED

BANK HAPOALIM B.M.
as Facility Agent

BANK LEUMI LE-ISRAEL B.M.
as Co-ordinating Agent and Security Trustee

Herzog, Fox & Neeman Gross, Kleinhendler, Hodak, Halevy,
Greenberg & Co.
Asia House, 4 Weizmann Street One Azrieli Center
Tel Aviv, 64239, Israel Tel Aviv 67021, Israel
Tel: +972-(0)3-692 2020 Tel: +972-(0)3-607 4444
Fax: +972-(0)3-696 6464 Fax: +972-(0)3-607 4422

CONTENTS

1. DEFINITIONS AND INTERPRETATION 7 
  1.1 DEFINITIONS 7 
  1.2 ACCOUNTS 19 
  1.3 INTERPRETATION 19 
  1.4 REPLACEMENT OF THE EXISTING FACILITY AGREEMENT 20 
2. THE FACILITIES 21 
  2.1 FACILITY A AND FACILITY B 21 
  2.2 THE UMB FACILITY 21 
  2.3 RIGHTS AND OBLIGATIONS OF FINANCE PARTIES 21 
  2.4 THE OPTION 22 
3. PURPOSE 22 
  3.1 PURPOSE 22 
  3.2 NO DUTY TO MONITOR 22 
4. CONDITIONS PRECEDENT 22 
  4.1 DOCUMENTARY CONDITIONS PRECEDENT 22 
  4.2 FURTHER CONDITIONS PRECEDENT 23 
  4.3 COMMENCEMENT DATE 23 
5. DRAWDOWN 24 
  5.1 GIVING OF REQUESTS 24 
  5.2 REQUESTS AND ADVANCES 24 
  5.3 DEEMED ADVANCES 25 
  5.4 LENDERS OBLIGATIONS TO FUND ADVANCES 25 
  5.5 RELEVANT PERCENTAGES 26 
  5.6 PRIMACY OF THE FINANCE DOCUMENTS 26 
6. CURRENCY 26 
  6.1 SELECTION 26 
  6.2 REVOCATION OF DOLLAR DRAWDOWN REQUEST 27 
  6.3 DRAWDOWNS 27 
  6.4 PREPAYMENTS AND REPAYMENTS 27 
  6.5 FACILITY AMOUNT 27 
7. REPAYMENT AND REBORROWING 27 
  7.1 REPAYMENT OF FACILITY A 27 
  7.2 REPAYMENT OF FACILITY B 28 
  7.3 REPAYMENT OF THE UMB FACILITY 28 
  7.4 MISCELLANEOUS 28 
8. PREPAYMENT AND CANCELLATION 28 
  8.1 VOLUNTARY PREPAYMENT 28 
  8.2 MANDATORY PREPAYMENT - DISPOSALS 29 
  8.3 MANDATORY PREPAYMENT - CHANGE OF CONTROL 29 
  8.4 MISCELLANEOUS PROVISIONS 29 
  8.5 CANCELLATION 30 

9. INTEREST & INTEREST PERIODS 31 
  9.1 RATE OF INTEREST 31 
  9.2 DUE DATES 31 
  9.3 BREACH INTEREST 31 
  9.4 INTEREST PERIOD DURATION 32 
  9.5 INTEREST PERIOD COMMENCEMENT 32 
  9.6 COINCIDENCE OF INTEREST PERIODS 32 
  9.7 OTHER ADJUSTMENTS 32 
10. LINKAGE 32 
  10.1 LINKAGE TO INDEX 32 
  10.2 NON-PUBLICATION OF INDEX 33 
11. PAYMENTS 33 
  11.1 PLACE 33 
  11.2 FUNDS 33 
  11.3 CURRENCY 33 
  11.4 NO SET-OFF OR COUNTERCLAIM 33 
  11.5 NON-BUSINESS DAYS 33 
  11.6 PARTIAL PAYMENTS 34 
12. TAXES 34 
  12.1 GROSS-UP 34 
  12.2 TAX RECEIPTS 34 
13. MARKET DISRUPTION 35 
  13.1 MARKET DISRUPTION 35 
  13.2 SUSPENSION OF ADVANCES 35 
  13.3 ALTERNATIVE BASIS FOR OUTSTANDING ADVANCES 35 
  13.4 REVIEW 36 
14. INCREASED COSTS 36 
  14.1 INCREASED COSTS 36 
  14.2 EXCEPTIONS 37 
15. ILLEGALITY 37 
16. GUARANTEE AND INDEMNITY 37 
17. REPRESENTATIONS AND WARRANTIES 37 
  17.1 REPRESENTATIONS AND WARRANTIES 37 
  17.2 STATUS 38 
  17.3 POWER AND AUTHORITY 38 
  17.4 LEGAL VALIDITY 38 
  17.5 NON-CONFLICT 38 
  17.6 NO DEFAULT 38 
  17.7 CONSENTS AND AUTHORISATIONS 39 
  17.8 LITIGATION 39 
  17.9 INFORMATION 39 
  17.10 FINANCIAL STATEMENTS 39 
  17.11 STATUS OF SECURITY 39 
  17.12 PARI PASSU RANKING 40 
  17.13 INDEBTEDNESS 40 
  17.14 WINDING -UP 40 
  17.15 FINANCE DOCUMENTS 40 
  17.16 NO FORCE MAJEURE 40 
  17.17 BUSINESS PLAN 40 
  17.18 IMMUNITY 40 
  17.19 JURISDICTION/GOVERNING LAW 41 
  17.20 ACCURACY OF REPRESENTATION 41 
  17.21 TIMES WHEN REPRESENTATIONS ARE MADE 41 

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18. INFORMATION COVENANTS 41 
  18.1 ACCOUNTS AND FINANCIAL INFORMATION 41 
  18.2 INDEBTEDNESS TO PARTICIPATING BANKS 42 
  18.3 COMPLIANCE 42 
  18.5 GENERAL 44 
  18.6 FORM OF INFORMATION 44 
  18.7 AUDIT AND ACCOUNTING DATES 44 
19. FINANCIAL COVENANTS 44 
  19.1 FINANCIAL COVENANTS 44 
  19.2 INTERPRETATION 45 
20. GENERAL COVENANTS 45 
   20.1 COVENANTS AND UNDERTAKINGS 45 
   20.2 MATERIAL LICENCES 45 
   20.3 PARI PASSU RANKING 46 
   20.4 SECURITY AND NEGATIVE PLEDGE 46 
   20.5 FINANCIAL INDEBTEDNESS 47 
   20.6 MERGERS AND ACQUISITIONS 48 
   20.7 COMPLIANCE WITH LAWS AND PAYMENT OF TAXES 49 
   20.8 ACCESS 49 
   20.9 DISTRIBUTIONS 49 
  20.10 SHAREHOLDINGS 50 
  20.11 INSURANCES 50 
  20.12 CONDUCT OF BUSINESS 52 
  20.13 USE OF PROCEEDS 52 
  20.14 INVESTMENTS 52 
  20.15 CONSENTS AND AUTHORISATIONS 53 
  20.16 CONSTITUTIONAL DOCUMENTS 53 
  20.17 MAALOT RATING 53 
  20.18 HEDGING TRANSACTIONS 53 
  20.19 SALE AND LEASEBACK 54 
  20.20 LOANS AND GUARANTEES 54 
  20.21 OPERATING LEASES 54 
  20.22 DISCOUNTING OF RECEIVABLES 54 
  20.23 DURATION 55 

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