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Title: |
Credit Agreement |
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Entities: |
Banc of America Securities LLC; Hologic, Inc.; J.P. Morgan Securities Inc.; JPMorgan Chase Bank; International Swaps & Derivatives Association, Inc.; Bank of America, NA; Bank of New York; Brown Rudnick Freed & Gesmer |
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Date: |
2006 |
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Size: |
Preview shows 68KB of 377KB total |
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Price: |
$99 |
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ID: |
#2268201 |
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Start of Preview |
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CREDIT AGREEMENT
Dated as of July 24, 2006
among
HOLOGIC, INC.
as the Borrower,
BANK OF AMERICA, N.A.,
as Administrative Agent, Swing Line Lender
and
L/C Issuer,
JPMORGAN CHASE BANK, N.A.,
as Syndication Agent
and
The Other Lenders Party Hereto
BANC OF AMERICA SECURITIES LLC,
and
J.P. MORGAN SECURITIES, INC.,
as
Co-Lead Arrangers and Joint Book Managers
TABLE OF CONTENTS
|
Section |
Page | |||
| ARTICLE I. | ||||
| DEFINITIONS AND ACCOUNTING TERMS | ||||
|
1.01 |
Defined Terms | 1 | ||
|
1.02 |
Other Interpretive Provisions | 21 | ||
|
1.03 |
Accounting Terms | 22 | ||
|
1.04 |
Rounding | 22 | ||
|
1.05 |
Times of Day | 22 | ||
|
1.06 |
Letter of Credit Amounts | 22 | ||
|
1.07 |
Covenant Adjustments | 23 | ||
| ARTICLE II. | ||||
| THE COMMITMENTS AND CREDIT EXTENSIONS | ||||
|
2.01 |
Committed Loans | 23 | ||
|
2.02 |
Borrowings, Conversions and Continuations of Committed Loans | 23 | ||
|
2.03 |
Letters of Credit | 25 | ||
|
2.04 |
Swing Line Loans | 33 | ||
|
2.05 |
Prepayments | 36 | ||
|
2.06 |
Termination or Reduction of Commitments | 38 | ||
|
2.07 |
Repayment of Loans | 38 | ||
|
2.08 |
Interest | 38 | ||
|
2.09 |
Fees | 39 | ||
|
2.10 |
Computation of Interest and Fees | 40 | ||
|
2.11 |
Evidence of Debt | 40 | ||
|
2.12 |
Payments Generally; Administrative Agents Clawback | 41 | ||
|
2.13 |
Sharing of Payments by Lenders | 42 | ||
| ARTICLE III. | ||||
| TAXES, YIELD PROTECTION AND ILLEGALITY | ||||
|
3.01 |
Taxes | 43 | ||
|
3.02 |
Illegality | 45 | ||
|
3.03 |
Inability to Determine Rates | 45 | ||
|
3.04 |
Increased Costs; Reserves on Eurodollar Rate Loans | 46 | ||
|
3.05 |
Compensation for Losses | 47 | ||
|
3.06 |
Mitigation Obligations; Replacement of Lenders | 48 | ||
|
3.07 |
Survival | 48 | ||
| ARTICLE IV. | ||||
| CONDITIONS PRECEDENT TO CREDIT EXTENSIONS | ||||
|
4.01 |
Conditions of Initial Credit Extension | 49 | ||
|
4.02 |
Conditions to all Credit Extensions | 51 | ||
i
| ARTICLE V. | ||||
| REPRESENTATIONS AND WARRANTIES | ||||
|
5.01 |
Existence, Qualification and Power | 52 | ||
|
5.02 |
Authorization; No Contravention | 52 | ||
|
5.03 |
Governmental Authorization; Other Consents | 52 | ||
|
5.04 |
Binding Effect | 52 | ||
|
5.05 |
Financial Statements; No Material Adverse Effect; No Internal Control Event | 53 | ||
|
5.06 |
Litigation | 53 | ||
|
5.07 |
No Default | 53 | ||
|
5.08 |
Ownership of Property; Liens | 54 | ||
|
5.09 |
Environmental Compliance | 54 | ||
|
5.10 |
Insurance | 54 | ||
|
5.11 |
Taxes | 54 | ||
|
5.12 |
ERISA Compliance | 54 | ||
|
5.13 |
Subsidiaries; Equity Interests | 55 | ||
|
5.14 |
Margin Regulations; Investment Company Act; Public Utility Holding Company Act | 56 | ||
|
5.15 |
Disclosure | 56 | ||
|
5.16 |
Compliance with Laws | 56 | ||
|
5.17 |
Taxpayer Identification Number | 56 | ||
|
5.18 |
Intellectual Property; Licenses, Etc | 56 | ||
| ARTICLE VI. | ||||
| AFFIRMATIVE COVENANTS | ||||
|
6.01 |
Financial Statements | 57 | ||
|
6.02 |
Certificates; Other Information | 58 | ||
|
6.03 |
Notices | 59 | ||
|
6.04 |
Payment of Obligations | 60 | ||
|
6.05 |
Preservation of Existence, Etc | 60 | ||
|
6.06 |
Maintenance of Properties | 60 | ||
|
6.07 |
Maintenance of Insurance | 61 | ||
|
6.08 |
Compliance with Laws | 61 | ||
|
6.09 |
Books and Records | 61 | ||
|
6.10 |
Inspection Rights | 61 | ||
|
6.11 |
Use of Proceeds | 61 | ||
|
6.12 |
Additional Subsidiary Guarantors | 61 | ||
|
6.13 |
The Transaction | 62 | ||
|
6.14 |
Post Closing Requirements | 62 | ||
| ARTICLE VII. | ||||
| NEGATIVE COVENANTS | ||||
|
7.01 |
Liens | 62 | ||
|
7.02 |
Investments | 64 | ||
ii
|
7.03 |
Indebtedness | 64 | ||
|
7.04 |
Fundamental Changes | 65 | ||
|
7.05 |
Dispositions | 66 | ||
|
7.06 |
Restricted Payments | 66 | ||
|
7.07 |
Change in Nature of Business | 67 | ||
|
7.08 |
Transactions with Affiliates | 67 | ||
|
7.09 |
Burdensome Agreements | 67 | ||
|
7.10 |
Use of Proceeds | 67 | ||
|
7.11 |
Financial Covenants | 68 | ||
|
7.12 |
Acquisitions | 68 | ||
|
7.13 |
Excluded Subsidiaries | 68 | ||
| ARTICLE VIII. | ||||
| EVENTS OF DEFAULT AND REMEDIES | ||||
|
8.01 |
Events of Default | 68 | ||
|
8.02 |
Remedies Upon Event of Default | 70 | ||
|
8.03 |
Application of Funds | 71 | ||
| ARTICLE IX. | ||||
| ADMINISTRATIVE AGENT | ||||
|
9.01 |
Appointment and Authority | 72 | ||
|
9.02 |
Rights as a Lender | 72 | ||
|
9.03 |
Exculpatory Provisions | 72 | ||
|
9.04 |
Reliance by Administrative Agent | 73 | ||
|
9.05 |
Delegation of Duties | 73 | ||
|
9.06 |
Resignation of Administrative Agent | 74 | ||
|
9.07 |
Non-Reliance on Administrative Agent and Other Lenders | 75 | ||
|
9.08 |
No Other Duties, Etc | 75 | ||
|
9.09 |
Administrative Agent May File Proofs of Claim | 75 | ||
|
9.10 |
Guaranty Matters | 76 | ||
| ARTICLE X. | ||||
| MISCELLANEOUS | ||||
|
10.01 |
Amendments, Etc | 76 | ||
|
10.02 |
Notices; Effectiveness; Electronic Communication | 77 | ||
|
10.03 |
No Waiver; Cumulative Remedies | 79 | ||
|
10.04 |
Expenses; Indemnity; Damage Waiver | 79 | ||
|
10.05 |
Payments Set Aside | 81 | ||
|
10.06 |
Successors and Assigns | 81 | ||
|
10.07 |
Treatment of Certain Information; Confidentiality | 85 | ||
|
10.08 |
Right of Setoff | 86 | ||
|
10.09 |
Interest Rate Limitation | 87 | ||
|
10.10 |
Counterparts; Integration; Effectiveness | 87 | ||
iii
|
10.11 |
Survival of Representations and Warranties | 87 | ||
|
10.12 |
Severability | 87 | ||
|
10.13 |
Replacement of Lenders | 88 | ||
|
10.14 |
Governing Law; Jurisdiction; Etc | 88 | ||
|
10.15 |
Waiver of Jury Trial | 89 | ||
|
10.16 |
No Advisory or Fiduciary Responsibility | 89 | ||
|
10.17 |
USA PATRIOT Act Notice | 90 | ||
| SIGNATURES | ||||
iv
SCHEDULES
| 2.01 | Commitments and Applicable Percentages | |
| 4.01 | Good Standing Jurisdictions | |
| 5.06 | Litigation | |
| 5.13 | Subsidiaries; Other Equity Investments | |
| 7.01 | Existing Liens | |
| 7.02 | Existing Investments | |
| 7.03 | Existing Indebtedness | |
| 10.02 | Administrative Agents Office; Certain Addresses for Notices |
EXHIBITS
| Form of | ||
|
A |
Committed Loan Notice | |
|
B |
Swing Line Loan Notice | |
|
C |
Note | |
|
D |
Compliance Certificate | |
|
E |
Assignment and Assumption | |
|
F |
Subsidiary Guaranty | |
|
G |
Opinion Matters | |
v
CREDIT AGREEMENT
This CREDIT AGREEMENT (Agreement) is entered into as of July 24, 2006, among HOLOGIC, INC., a Delaware corporation (the Borrower), each lender from time to time party hereto (collectively, the Lenders and individually, a Lender), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.
The Borrower has requested that the Lenders provide a revolving credit facility, and the Lenders are willing to do so on the terms and conditions set forth herein.
In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:
ARTICLE I.
DEFINITIONS AND ACCOUNTING TERMS
1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below:
Acquisition means the acquisition of (i) a controlling equity interest in another Person (including the purchase of an option, warrant or convertible or similar type security that provides for the acquisition of such a controlling interest at the time such option, warrant or other security becomes exercisable by the holder thereof), whether by purchase of such equity interest or upon exercise of an option or warrant for, or conversion of securities into, such equity interest, or (ii) assets of another Person which constitute all or substantially all of the assets of such Person or of a line or lines of business conducted by such Person.
Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.
Administrative Agents Office means the Administrative Agents address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders.
Administrative Questionnaire means an Administrative Questionnaire in a form supplied by the Administrative Agent.
Affiliate means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.
Aggregate Commitments means the Commitments of all the Lenders.
Agreement means this Credit Agreement.
Applicable Percentage means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lenders Commitment at such time. If the commitment of each Lender to make Loans and the
1
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.
Applicable Rate means the following percentages per annum, based upon the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a):
Applicable Rate
| Pricing Level |
Consolidated Leverage Ratio |
Commitment Fee |
Eurodollar Rate Letters of Credit |
Base Rate | |||||||
| 1 | <0.75:1.00 | 0.125 | % | 0.625 | % | 0.000 | % | ||||
| 2 | >0.75:1.00 but <1.50:1.00 | 0.150 | % | 0.750 | % | 0.000 | % | ||||
| 3 | >1.50:1.00 but <2.00:1.00 |
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