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Title: |
Credit Agreement |
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Entities: |
Commerzbank AG; JPMorgan Chase Bank; Lehman Brothers Inc.; Lehman Commercial Paper Inc.; Pactiv Corp.; Pregis Corp; Bank of New York; Fried, Frank, Harris, Shriver & Jacobson |
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Date: |
2006 |
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Size: |
Preview shows 43KB of 473KB total |
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Price: |
$99 |
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ID: |
#1544459 |
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Start of Preview |
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$222,000,000
CREDIT AGREEMENT
Dated as of October 12, 2005
among
PREGIS CORPORATION,
as Borrower
and
PREGIS HOLDING II CORPORATION,
as Parent
and
THE SUBSIDIARY GUARANTORS NAMED HEREIN,
as Subsidiary Guarantors
and
THE INITIAL LENDERS, INITIAL ISSUING BANK AND
SWING LINE BANK NAMED HEREIN,
as Initial Lenders, Initial Issuing Bank and Swing Line Bank
and
CREDIT SUISSE,
as Collateral Agent and as Administrative Agent
and
LEHMAN COMMERCIAL PAPER INC.,
as Syndication Agent
and
CIT LENDING SERVICES CORPORATION
and
JPMORGAN CHASE BANK, N.A.
as Co-Documentation Agents
and
CREDIT SUISSE and LEHMAN BROTHERS INC.,
as Joint Bookrunners and Joint Lead Arrangers
TABLE OF CONTENTS
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Section |
Page | |||
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ARTICLE I
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DEFINITIONS AND ACCOUNTING TERMS
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SECTION 1.01. |
Certain Defined Terms | 2 | ||
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SECTION 1.02. |
Computation of Time Periods; Other Definitional Provisions | 39 | ||
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SECTION 1.03. |
Accounting Terms | 39 | ||
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SECTION 1.04. |
Currency Equivalents Generally; Judgment Currency | 39 | ||
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ARTICLE II
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AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT
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SECTION 2.01. |
The Advances and the Letters of Credit | 40 | ||
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SECTION 2.02. |
Making the Advances | 43 | ||
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SECTION 2.03. |
Issuance of and Drawings and Reimbursement Under Letters of Credit | 46 | ||
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SECTION 2.04. |
Repayment of Advances | 48 | ||
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SECTION 2.05. |
Termination, Reduction or Extension of the Commitments | 51 | ||
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SECTION 2.06. |
Prepayments | 53 | ||
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SECTION 2.07. |
Interest | 55 | ||
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SECTION 2.08. |
Fees | 56 | ||
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SECTION 2.09. |
Conversion of Advances | 57 | ||
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SECTION 2.10. |
Increased Costs, Etc. | 58 | ||
|
SECTION 2.11. |
Payments and Computations | 60 | ||
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SECTION 2.12. |
Taxes | 61 | ||
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SECTION 2.13. |
Sharing of Payments, Etc. | 64 | ||
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SECTION 2.14. |
Use of Proceeds | 65 | ||
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SECTION 2.15. |
Defaulting Lenders | 65 | ||
|
SECTION 2.16. |
Evidence of Debt | 67 | ||
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SECTION 2.17. |
Incremental Facility | 68 | ||
| ARTICLE III | ||||
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CONDITIONS TO EFFECTIVENESS AND OF LENDING AND ISSUANCES OF LETTERS OF CREDIT
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SECTION 3.01. |
Conditions Precedent | 71 | ||
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SECTION 3.02. |
Conditions Precedent to Each Borrowing and Issuance and Renewal | 78 | ||
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SECTION 3.03. |
Determinations Under Section 3.01 | 79 | ||
Pregis Credit Agreement
i
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ARTICLE IV
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REPRESENTATIONS AND WARRANTIES
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SECTION 4.01. |
Representations and Warranties of the Parent and Borrower | 79 | ||
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ARTICLE V
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COVENANTS OF THE PARENT AND THE BORROWER
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SECTION 5.01. |
Affirmative Covenants | 87 | ||
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SECTION 5.02. |
Negative Covenants | 95 | ||
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SECTION 5.03. |
Reporting Requirements | 109 | ||
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SECTION 5.04. |
Financial Covenants | 112 | ||
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ARTICLE VI
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EVENTS OF DEFAULT
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SECTION 6.01. |
Events of Default | 114 | ||
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SECTION 6.02. |
Actions in Respect of the Letters of Credit upon Default | 117 | ||
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ARTICLE VII
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THE AGENTS
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SECTION 7.01. |
Authorization and Action | 118 | ||
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SECTION 7.02. |
Agents? Reliance, Etc. | 119 | ||
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SECTION 7.03. |
CS and Affiliates | 120 | ||
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SECTION 7.04. |
Lender Party Credit Decision | 120 | ||
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SECTION 7.05. |
Indemnification | 120 | ||
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SECTION 7.06. |
Successor Agents | 121 | ||
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ARTICLE VIII
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GUARANTY
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SECTION 8.01. |
Guaranty; Limitation of Liability | 122 | ||
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SECTION 8.02. |
Guaranty Absolute | 123 | ||
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SECTION 8.03. |
Waivers and Acknowledgments | 124 | ||
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SECTION 8.04. |
Subrogation | 125 | ||
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SECTION 8.05. |
Guaranty Supplements | 126 | ||
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SECTION 8.06. |
Subordination | 126 | ||
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SECTION 8.07. |
Continuing Guaranty; Assignments | 127 | ||
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SECTION 8.08. |
Applicant Subsidiaries | 127 | ||
Pregis Credit Agreement
ii
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ARTICLE IX
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MISCELLANEOUS
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SECTION 9.01. |
Amendments, Etc. | 128 | ||
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SECTION 9.02. |
Notices, Etc. | 129 | ||
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SECTION 9.03. |
No Waiver; Remedies | 131 | ||
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SECTION 9.04. |
Costs and Expenses | 131 | ||
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SECTION 9.05. |
Right of Set-off | 133 | ||
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SECTION 9.06. |
Binding Effect | 133 | ||
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SECTION 9.07. |
Assignments and Participations | 134 | ||
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SECTION 9.08. |
Execution in Counterparts | 137 | ||
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SECTION 9.09. |
No Liability of the Issuing Bank | 138 | ||
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SECTION 9.10. |
Confidentiality | 138 | ||
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SECTION 9.11. |
Release of Collateral | 138 | ||
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SECTION 9.12. |
Patriot Act Notice | 138 | ||
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SECTION 9.13. |
Jurisdiction, Etc. | 139 | ||
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SECTION 9.14. |
Governing Law | 139 | ||
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SECTION 9.15. |
Waiver of Jury Trial | 1 | ||
Pregis Credit Agreement
iii
SCHEDULES
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Schedule I |
- | Commitments and Applicable Lending Offices | ||
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