|
|
|
|
Document Preview Credit Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Credit Agreement |
|||
|
Entities: |
Fleet National Bank; JPMorgan Chase Bank; Lydall Inc /DE/; Lydall, Inc.; Bank of New York |
|||
|
Date: |
2003 |
|||
|
Size: |
Preview shows 45KB of 280KB total |
|||
|
Price: |
$55 |
|||
|
ID: |
#1626386 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
CREDIT AGREEMENT
dated as of
July 14, 1999,
amended and restated as of
May 13, 2002
and amended and restated as of
August 29, 2003
among
LYDALL, INC.
LYDALL DEUTSCHLAND HOLDING, GMBH
The LENDERS Party Hereto
JPMORGAN CHASE BANK,
as Administrative Agent
and
FLEET NATIONAL BANK,
as Documentation Agent
JPMORGAN SECURITIES, INC.,
as Arranger and Book Manager
TABLE OF CONTENTS
|
ARTICLE I DEFINITIONS |
1 | |||
|
Section 1.01. |
Defined Terms |
1 | ||
|
Section 1.02. |
Classification of Loans and Borrowings |
21 | ||
|
Section 1.03. |
Terms Generally |
21 | ||
|
Section 1.04. |
Accounting Terms; GAAP |
22 | ||
|
Section 1.05. |
Exchange Rates |
22 | ||
|
ARTICLE II THE CREDITS |
22 | |||
|
Section 2.01. |
Commitments |
22 | ||
|
Section 2.02. |
Loans and Borrowings |
23 | ||
|
Section 2.03. |
Requests for Revolving or Term Borrowings |
23 | ||
|
Section 2.04. |
Swingline Loans |
24 | ||
|
Section 2.05. |
Letters of Credit |
26 | ||
|
Section 2.06. |
Funding of Borrowings |
30 | ||
|
Section 2.07. |
Interest Elections |
30 | ||
|
Section 2.08. |
Termination and Reduction of Commitments |
32 | ||
|
Section 2.09. |
Repayment of Loans; Evidence of Debt |
32 | ||
|
Section 2.10. |
Voluntary Prepayment of Loans |
34 | ||
|
Section 2.11. |
Mandatory Prepayment of Loans. |
35 | ||
|
Section 2.12. |
Fees |
36 | ||
|
Section 2.13. |
Interest |
37 | ||
|
Section 2.14. |
Alternate Rate of Interest |
38 | ||
|
Section 2.15. |
Increased Costs; Illegality. |
38 | ||
|
Section 2.16. |
Break Funding Payments |
41 | ||
|
Section 2.17. |
Taxes |
42 | ||
|
Section 2.18. |
Payments Generally; Pro Rata Treatment; Sharing of Set-offs |
43 | ||
|
Section 2.19. |
Mitigation Obligations; Replacement of Lenders |
45 | ||
|
ARTICLE III REPRESENTATIONS AND WARRANTIES |
46 | |||
|
Section 3.01. |
Organization; Powers |
46 | ||
|
Section 3.02. |
Authorization; Enforceability |
46 | ||
|
Section 3.03. |
Governmental Approvals; No Conflicts |
47 | ||
|
Section 3.04. |
Financial Condition; No Material Adverse Change |
47 | ||
|
Section 3.05. |
Properties |
48 | ||
|
Section 3.06. |
Litigation and Environmental Matters |
48 | ||
|
Section 3.07. |
Compliance with Laws and Agreements |
48 | ||
|
Section 3.08. |
Investment and Holding Company Status |
49 | ||
|
Section 3.09. |
Taxes |
49 | ||
|
Section 3.10. |
ERISA |
49 | ||
|
Section 3.11. |
Disclosure |
49 | ||
|
Section 3.12. |
Federal Reserve Regulations |
49 | ||
|
Section 3.13. |
Solvency |
50 | ||
|
ARTICLE IV CONDITIONS |
50 | |||
|
Section 4.01. |
Effective Date |
50 | ||
|
Section 4.02. |
Each Credit Event |
51 | ||
|
ARTICLE V AFFIRMATIVE COVENANTS |
52 | |||
|
Section 5.01. |
Financial Statements and Other Information |
52 | ||
|
Section 5.02. |
Notices of Material Events |
53 | ||
|
Section 5.03. |
Existence; Conduct of Business |
54 | ||
|
Section 5.04. |
Payment of Obligations |
54 | ||
|
Section 5.05. |
Maintenance of Properties; Insurance |
54 | ||
|
Section 5.06. |
Books and Records; Inspection Rights |
54 | ||
|
Section 5.07. |
Compliance with Laws |
55 | ||
|
Section 5.08. |
Use of Proceeds and Letters of Credit |
55 | ||
|
Section 5.09. |
Additional Guarantors |
55 | ||
|
ARTICLE VI NEGATIVE COVENANTS |
55 | |||
|
Section 6.01. |
Indebtedness |
56 | ||
|
Section 6.02. |
Liens |
56 | ||
|
Section 6.03. |
Fundamental Changes |
57 | ||
|
Section 6.04. |
Investments, Loans, Advances, Guarantees and Acquisitions |
58 | ||
|
Section 6.05. |
Hedging Agreements |
59 | ||
|
Section 6.06. |
Restricted Payments; Certain Payments of Indebtedness |
59 | ||
|
Section 6.07. |
Disposition of Assets |
59 | ||
|
Section 6.08. |
Transactions with Affiliates |
60 | ||
|
Section 6.09. |
Restrictive Agreements |
60 | ||
|
Section 6.10. |
Issuances of Capital Stock by Subsidiaries |
61 | ||
|
Section 6.11. |
Subsidiary Borrower |
61 | ||
|
Section 6.12. |
Fixed Charge Coverage Ratio |
61 | ||
|
Section 6.13. |
Leverage Ratio |
61 | ||
|
Section 6.14. |
Consolidated Net Worth |
61 | ||
|
Section 6.15. |
Consolidated Capital Expenditures |
61 | ||
|
Section 6.16. |
Minimum EBITDA |
61 | ||
|
ARTICLE VII EVENTS OF DEFAULT |
61 | |||
|
ARTICLE VIII THE ADMINISTRATIVE AGENT |
64 | |||
|
ARTICLE IX GUARANTEE |
66 | |||
|
ARTICLE X MISCELLANEOUS |
||||
|
End of Preview |
Home Intelligence Services Subscriptions News About Us