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Title: |
Credit Agreement |
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Entities: |
ABN AMRO Bank N.V.; Aracruz Celulose SA; Barclays Bank plc; Citibank, NA; Comerica Bank; Votorantim Pulp & Paper Inc; Wachovia Bank, NA; Bank of New York |
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Date: |
2002 |
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Size: |
Preview shows 6KB of 351KB total |
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Price: |
$65 |
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ID: |
#1711715 |
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CREDIT AGREEMENT
dated as of May 23, 2002
among
NEWARK FINANCIAL INC.,
VCP EXPORTADORA E PARTICIPACOES S.A.,
VOTORANTIM CELULOSE E PAPEL S.A.,
VCP TRADING N.V.,
VCP NORTH AMERICA INC.,
CERTAIN LENDERS,
ABN AMRO BANK N.V.,
as the Administrative Agent,
and
THE BANK OF NEW YORK,
as the Collateral Agent
------------------------------------
ABN AMRO BANK N.V.,
as the Arranger
================================================================================
<PAGE>
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS
Section 1.1 Certain Defined Terms ........................................ 1
Section 1.2 Other Interpretive Provisions ............................... 15
ARTICLE II
LOANS, ETC
Section 2.1 Loans ....................................................... 16
Section 2.2 Borrowing ................................................... 16
Section 2.3 Fees ........................................................ 17
Section 2.4 Several Obligations; Remedies Independent ................... 17
Section 2.5 Notes ....................................................... 17
ARTICLE III
PAYMENTS OF PRINCIPAL AND INTEREST
Section 3.1 Repayment of the Loans ...................................... 17
Section 3.2 Interest .................................................... 17
Section 3.3 Optional Pre-payments ....................................... 18
Section 3.4 Payments .................................................... 18
Section 3.5 Pro Rata Treatment .......................................... 19
Section 3.6 Certain Notices ............................................. 19
Section 3.7 Non-Receipt of Funds by the Administrative Agent ............ 19
Section 3.8 Set-Off; Sharing of Payments ................................ 20
ARTICLE IV
YIELD PROTECTION, ETC
Section 4.1 Additional Costs ............................................ 21
Section 4.2 Substitute Basis ............................................ 22
Section 4.3 Illegality .................................................. 23
Section 4.4 Funding Losses .............................................. 23
Section 4.5 Taxes ....................................................... 24
ARTICLE V
COLLECTION ACCOUNT, COLLATERAL ACCOUNT, ETC
Section 5.1 The Collection Account ...................................... 26
Section 5.2 The Collateral Account ...................................... 26
Section 5.3 Releases from the Collection Account, the Collection
Subaccount and the Collateral Account ....................... 27
Section 5.4 Remedies During Events of Default ........................... 28
Section 5.5 Certain Rights and Duties of the Collateral Agent ........... 29
Credit Agreement i
<PAGE>
TABLE OF CONTENTS
(continued)
Page
----
ARTICLE VI
CONDITIONS PRECEDENT
Section 6.1 Conditions Precedent ........................................ 29
Section 6.2 Additional Conditions ....................................... 32
Section 6.3 Satisfaction of Conditions Precedent ........................ 33
ARTICLE VII
REPRESENTATIONS AND WARRANTIES
Section 7.1 Power and Authority ......................................... 34
Section 7.2 Subsidiaries ................................................ 34
Section 7.3 Due Authorization, Etc ...................................... 34
Section 7.4 No Additional Authorization Required ........................ 35
Section 7.5 Legal Effect ................................................ 35
Section 7.6 Financial Statements ........................................ 36
Section 7.7 Ranking; Priority ........................................... 36
Section 7.8 No Actions or Proceedings ................................... 36
Section 7.9 Commercial Activity; Absence of Immunity .................... 36
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