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Title: |
Participation Agreement |
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Entities: |
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.; Smart & Final Inc.; Thelen Reid & Priest LLP |
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Date: |
2002 |
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Size: |
Preview shows 14KB of 199KB total |
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Price: |
$56 |
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ID: |
#1236117 |
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PARTICIPATION AGREEMENT
Dated as of November 30, 2001
among
SMART & FINAL INC.,
as the Lessee,
THE VARIOUS PERSONS WHICH ARE PARTIES HERETO FROM TIME TO TIME,
as the Guarantors,
WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION,
not individually, except as expressly stated herein,
but solely as the Owner Trustee under S&F Trust 1998-1,
THE VARIOUS PERSONS WHICH ARE PARTIES
HERETO FROM TIME TO TIME, as the Holders,
THE VARIOUS PERSONS WHICH ARE PARTIES
HERETO FROM TIME TO TIME, as the Lenders,
and
Fleet Capital Corporation,
as the Administrative Agent for the Lenders
and respecting the Security Documents,
as the Administrative Agent for the Lenders and the Holders,
to the extent of their interests,
Arranger:
FLEET CAPITAL CORPORATION
Documentation Agent:
NATEXIS BANQUES POPULAIRES
--------------------------------------------------------------------------------
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C>
SECTION 1 THE LOAN .................................................................................... 1
SECTION 2 THE HOLDER ADVANCE........................................................................... 1
SECTION 3 SUMMARY OF TRANSACTION....................................................................... 2
3.1 Operative Agreements..................................................... 2
3.2 Property Refinancing..................................................... 2
3.3 Commencement of Basic Rent............................................... 2
3.4 [not used]............................................................... 2
SECTION 4 THE CLOSING.................................................................................. 2
4.1 Closing.................................................................. 2
4.2 [not used]............................................................... 3
SECTION 5 FUNDING OF ADVANCE; CONDITIONS PRECEDENT; THE LESSEE'S DELIVERY OF NOTICES; RESTRICTIONS ON
LIENS............................................................................... 3
5.1 General.................................................................. 3
5.2 Procedures for Funding................................................... 3
5.3 Conditions Precedent for the Lessor, the Agent, the Lenders and the
Holders Relating to the Closing.......................................... 4
5.4 Sale of Equipment........................................................ 8
5.5 [not used]............................................................... 8
5.6 [not used]............................................................... 8
5.7 Restrictions on Liens.................................................... 8
5.8 Joinder Agreement Requirements........................................... 8
5.9 Payments................................................................. 9
5.10 [not used]............................................................... 9
5.11 [not used]............................................................... 9
SECTION 6 REPRESENTATIONS AND WARRANTIES............................................................... 9
6.1 Representations and Warranties of the Borrower........................... 9
6.2 Representations and Warranties of the Credit Parties..................... 11
6.3 Representations and Warranties of the Lenders and Holders................ 15
SECTION 6B GUARANTY.................................................................................... 16
6B.1 Guaranty of Payment and Performance...................................... 16
6B.2 Obligations Unconditional................................................ 16
6B.3 Modifications............................................................ 17
6B.4 Waiver of Rights........................................................ 17
6B.5 Reinstatement............................................................ 18
6B.6 Remedies................................................................. 18
6B.7 Limitation of Guaranty................................................... 18
</TABLE>
i
<PAGE>
<TABLE>
<CAPTION>
Page
----
<S> <C>
6B.8 Payment of Amounts to the Agent.......................................... 18
6B.9 Release of Guarantors.................................................... 19
6B.10 Subrogation.............................................................. 19
SECTION 7 PAYMENT OF CERTAIN EXPENSES.................................................................. 20
7.1 Transaction Expenses..................................................... 20
7.2 [not used]............................................................... 20
7.3 Certain Fees and Expenses................................................ 20
7.4 [not used]............................................................... 21
7.5 [not used]............................................................... 21
SECTION 8 OTHER COVENANTS AND AGREEMENTS............................................................... 21
8.1 [not used]............................................................... 21
8.2 Covenants of the Owner Trustee and the Holders........................... 21
8.3 Credit Party Covenants, Consent and Acknowledgment....................... 22
8.4 Sharing of Certain Payments.............................................. 25
8.5 Grant of Easements etc................................................... 26
8.6 Appointment of the Agent by the Lenders, the Holders and the Owner
Trustee.................................................................. 26
8.7 Collection and Allocation of Payments and Other Amounts.................. 27
8.8 Release of Properties etc................................................ 30
SECTION 9 CREDIT AGREEMENT AND TRUST AGREEMENT......................................................... 30
9.1 The Lessee's Credit Agreement Rights..................................... 30
9.2 The Lessee's Trust Agreement Rights...................................... 31
SECTION 10 TRANSFER OF INTEREST......................................................................... 31
10.1 Restrictions on Transfer................................................. 31
10.2 Effect of Transfer....................................................... 32
SECTION 11 INDEMNIFICATION.............................................................................. 32
11.1 General Indemnity........................................................ 32
11.2 General Tax Indemnity.................................................... 35
11.3 [not used]............................................................... 40
11.4 [not used]............................................................... 40
11.5 EXPRESS INDEMNIFICATION FOR ORDINARY NEGLIGENCE, STRICT LIABILITY ETC.... 40
11.6 Additional Provisions Regarding Environmental Indemnification............ 41
11.7 [not used]............................................................... 41
11.8 [not used]............................................................... 41
SECTION 12 MISCELLANEOUS................................................................................ 41
12.1 Survival of Agreements................................................... 41
12.2 Notices; Wire Instructions............................................... 41
12.3 Counterparts............................................................. 43
</TABLE>
ii
<PAGE>
<TABLE>
<CAPTION>
Page
----
<S> <C>
12.4 Terminations, Amendments, Waivers Etc.; Unanimous Vote Matters........... 43
12.5 Headings, etc............................................................ 44
12.6 Parties in Interest...................................................... 44
12.7 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL; VENUE... 45
12.8 Severability............................................................. 46
12.9 Liability Limited........................................................ 46
12.10 Rights of the Credit Parties............................................. 47
12.11 Further Assurances....................................................... 47
12.12 Calculations under Operative Agreements.................................. 48
12.13 Confidential............................................................. 48
12.14 Financial Reporting/Tax Characterization................................. 48
12.15 Set-off.................................................................. 49
</TABLE>
iii
<PAGE>
EXHIBITS
A - [not used]
B - [not used]
C - [not used]
D - [not used]
E - [not used]
F - [not used]
G - [not used]
H - [not used]
I - [not used]
J - Form of Joinder Agreement - Section 5.8(a)
K - Description of Material Litigation - Section 6.2(d)
L - State of Incorporation/Formation and Principal Place of Business of
Each Guarantor - Section 6.2(i)
M - Form of Officer's Compliance Certificate - Section 8.3(1)
Schedule 8.3(q)
Appendix A - Rules of Usage and Definitions
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