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Credit Agreement

 

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Title:

Credit Agreement

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

Date:

2006

Size:

Preview shows 68KB of 377KB total

Price:

$99

ID:

#2268201

 

 

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Start of Preview



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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