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Title: |
Credit Agreement |
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Entities: |
Beltzdorf Chain Co Inc; Deutsche Bank Securities Inc.; Deutsche Bank Trust Company Americas; Honeywell International Inc.; National City Bank; Wachovia Bank, NA; Bank of New York; Latham & Watkins |
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Date: |
2003 |
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Size: |
Preview shows 18KB of 472KB total |
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Price: |
$99 |
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ID: |
#1591288 |
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CREDIT AGREEMENT
among
RBS GLOBAL, INC.,
REXNORD CORPORATION,
VARIOUS LENDERS,
DEUTSCHE BANK TRUST COMPANY AMERICAS,
as ADMINISTRATIVE AGENT,
GENERAL ELECTRIC CAPITAL CORPORATION
and
WACHOVIA BANK, NATIONAL ASSOCIATION,
as Co-Documentation Agents,
and
DEUTSCHE BANK SECURITIES INC.
and
CREDIT SUISSE FIRST BOSTON, acting through its Cayman Islands Branch,
as JOINT LEAD ARRANGERS and JOINT BOOK RUNNERS
--------------------------------
Dated as of November 25, 2002
--------------------------------
TABLE OF CONTENTS
Page
----
SECTION 1. Amount and Terms of Credit.........................................................................1
1.01 Commitments.........................................................................................1
1.02 Minimum Borrowing Amounts, etc......................................................................3
1.03 Notice of Borrowing.................................................................................3
1.04 Disbursement of Funds...............................................................................4
1.05 Notes...............................................................................................5
1.06 Conversions.........................................................................................6
1.07 Pro Rata Borrowings.................................................................................7
1.08 Interest............................................................................................7
1.09 Interest Periods....................................................................................8
1.10 Increased Costs, Illegality, etc....................................................................9
1.11 Compensation.......................................................................................11
1.12 Change of Lending Office...........................................................................11
1.13 Replacement of Lenders.............................................................................12
SECTION 2. Letters of Credit.................................................................................13
2.01 Letters of Credit..................................................................................13
2.02 Letter of Credit Requests; Notices of Issuance.....................................................13
2.03 Agreement to Repay Letter of Credit Drawings.......................................................14
2.04 Letter of Credit Participations....................................................................14
2.05 Increased Costs....................................................................................17
SECTION 3. Fees; Commitments.................................................................................17
3.01 Fees...............................................................................................17
3.02 Voluntary Reduction of Commitments.................................................................18
3.03 Mandatory Reductions of Commitments, etc...........................................................19
SECTION 4. Payments..........................................................................................19
4.01 Voluntary Prepayments..............................................................................19
4.02 Mandatory Prepayments..............................................................................21
4.03 Method and Place of Payment........................................................................24
4.04 Net Payments.......................................................................................24
SECTION 5. Conditions Precedent..............................................................................26
5.01 Conditions Precedent to the Initial Borrowing Date.................................................26
5.02 Conditions Precedent to All Credit Events..........................................................31
SECTION 6. Representations, Warranties and Agreements........................................................32
6.01 Corporate Status...................................................................................32
6.02 Corporate Power and Authority......................................................................32
(i)
Page
----
6.03 No Violation.......................................................................................32
6.04 Litigation.........................................................................................33
6.05 Use of Proceeds; Margin Regulations................................................................33
6.06 Governmental Approvals.............................................................................33
6.07 Investment Company Act.............................................................................33
6.08 Public Utility Holding Company Act.................................................................34
6.09 True and Complete Disclosure.......................................................................34
6.10 Financial Condition; Financial Statements..........................................................34
6.11 Security Interests.................................................................................35
6.12 Consummation of Certain Transactions...............................................................36
6.13 Tax Returns and Payments...........................................................................36
6.14 Compliance with ERISA..............................................................................36
6.15 Subsidiaries.......................................................................................38
6.16 Intellectual Property..............................................................................38
6.17 Environmental Matters..............................................................................38
6.18 Properties.........................................................................................39
6.19 Labor Relations....................................................................................39
6.20 Compliance with Statutes, etc......................................................................39
6.21 Subordination......................................................................................39
6.22 Capitalization.....................................................................................40
6.23 Legal Names; Type of Organization (and Whether a Registered Organization); Jurisdiction of
Organization; etc...............................................................................40
SECTION 7. Affirmative Covenants.............................................................................40
7.01 Information Covenants..............................................................................40
7.02 Books, Records and Inspections.....................................................................43
7.03 Insurance..........................................................................................43
7.04 Payment of Taxes...................................................................................43
7.05 Corporate Franchises...............................................................................44
7.06 Compliance with Statutes, etc......................................................................44
7.07 ERISA..............................................................................................44
7.08 Good Repair........................................................................................45
7.09 End of Fiscal Years; Fiscal Quarters...............................................................45
7.10 Additional Security; Further Assurances............................................................46
7.11 Compliance with Environmental Laws.................................................................47
7.12 Permitted Acquisitions.............................................................................48
SECTION 8. Negative Covenants................................................................................50
8.01 Changes in Business................................................................................50
8.02 Consolidation, Merger, Sale or Purchase of Assets, etc.............................................50
8.03 Liens..............................................................................................52
8.04 Indebtedness.......................................................................................54
8.05 Consolidated Capital Expenditures..................................................................56
8.06 Advances, Investments and Loans....................................................................57
8.07 Limitation on Creation of Subsidiaries.............................................................59
8.08 Modifications; Prepayments; etc....................................................................60
(ii)
Page
----
8.09 Dividends, etc.....................................................................................61
8.10 Transactions with Affiliates.......................................................................62
8.11 Consolidated Interest Coverage Ratio...............................................................63
8.12 Consolidated Leverage Ratio........................................................................64
8.13 Limitation On Issuance of Stock....................................................................65
8.14 Change of Legal Names; Type of Organization (and Whether a Registered Organization); Jurisdiction
of Organization; etc............................................................................65
8.15 No Designation of Other Indebtedness as "Designated Senior Indebtedness"...........................66
8.16 Limitations on Restrictions Affecting Subsidiaries.................................................66
SECTION 9. Events of Default.................................................................................66
9.01 Payments...........................................................................................66
9.02 Representations, etc...............................................................................66
9.03 Covenants..........................................................................................67
9.04 Default Under Other Agreements.....................................................................67
9.05 Bankruptcy, etc....................................................................................67
9.06 ERISA..............................................................................................68
9.07 Security Documents.................................................................................68
9.08 Guaranty...........................................................................................68
9.09 Judgments..........................................................................................69
9.10 Change of Control..................................................................................69
SECTION 10. Definitions and Accounting Terms.................................................................69
10.01 Defined Terms.....................................................................................69
10.02 Certain Pro Forma Calculations...................................................................100
SECTION 11. The Agents......................................................................................102
11.01 Appointment......................................................................................102
11.02 Nature of Duties.................................................................................102
11.03 Lack of Reliance on the Agents...................................................................102
11.04 Certain Rights of the Agents.....................................................................103
11.05 Reliance.........................................................................................103
11.06 Indemnification..................................................................................103
11.07 The Agents in Their Individual Capacity..........................................................103
11.08 Holders..........................................................................................104
11.09 Resignation......................................................................................104
11.10 Releases in Connection With Grants of Certain Liens, etc.........................................105
SECTION 12. Miscellaneous...................................................................................105
12.01 Payment of Expenses, etc.........................................................................105
12.02 Right of Setoff..................................................................................106
12.03 Notices..........................................................................................106
12.04 Benefit of Agreement; Assignments; Participations................................................107
12.05 No Waiver; Remedies Cumulative...................................................................109
12.06 Payments Pro Rata................................................................................109
(iii)
Page
----
12.07 Calculations; Computations.......................................................................110
12.08 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL...........................111
12.09 Counterparts.....................................................................................112
12.10 Effectiveness....................................................................................112
12.11 Headings Descriptive.............................................................................112
12.12 Amendment or Waiver, etc.........................................................................112
12.13 Survival.........................................................................................114
End
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