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Document Preview L200,000,000 Multi-Currency Term, Revolving Credit Facilities Agreement |
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Title: |
L200,000,000 Multi-Currency Term, Revolving Credit Facilities Agreement |
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Entities: |
Bank of Ireland; Barclays Bank plc; Barclays Capital Inc.; Iron Mountain Inc.; International Swaps & Derivatives Association, Inc.; Iron Mountain Europe Limited; Bank of Scotland |
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Date: |
2004 |
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Size: |
Preview shows 15KB of 454KB total |
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Price: |
$99 |
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ID: |
#249348 |
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L200,000,000 MULTI-CURRENCY TERM, REVOLVING CREDIT FACILITIES
AGREEMENT
dated MARCH 2004
for
IRON MOUNTAIN EUROPE LIMITED
arranged by
BARCLAYS CAPITAL
and
THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
WITH
THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
acting as Facility Agent
and
THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
acting as Security Trustee
-------------------------------------------------
L200,000,000 MULTI-CURRENCY TERM, REVOLVING
CREDIT FACILITIES AGREEMENT
-------------------------------------------------
{Page}
CONTENTS
{Table}
{Caption}
CLAUSE PAGE
{S} {C}
1. Definitions And Interpretation.........................................................1
2. The Facilities........................................................................21
3. Purpose...............................................................................22
4. Conditions Of Utilisation.............................................................23
5. Utilisation Of Loans..................................................................25
6. Utilisation - Letters Of Credit.......................................................26
7. Letters Of Credit.....................................................................28
8. Optional Currencies...................................................................31
9. Ancillary Facilities..................................................................31
10. Repayment.............................................................................33
11. Prepayment And Cancellation...........................................................34
12. Interest..............................................................................40
13. Interest Periods......................................................................41
14. Changes To The Calculation Of Interest................................................41
15. Fees..................................................................................43
16. Tax Gross Up And Indemnities..........................................................45
17. Increased Costs.......................................................................49
18. Other Indemnities.....................................................................50
19. Mitigation By The Lenders.............................................................51
20. Costs And Expenses....................................................................52
21. Guarantee And Indemnity...............................................................53
22. Representations.......................................................................57
23. Information Undertakings..............................................................62
24. Financial Covenants...................................................................66
25. General Undertakings..................................................................71
26. Events Of Default.....................................................................83
27. Changes To The Lenders................................................................88
28. Changes To The Obligors...............................................................92
29. Role Of The Facility Agent, The Arranger, The Issuing Bank And Others.................95
30. Role Of Security Trustee.............................................................101
31. Conduct Of Business By The Finance Parties...........................................110
{/Table}
{Page}
{Table}
{S} {C}
32. Sharing Among The Finance Parties....................................................110
33. Payment Mechanics....................................................................112
34. Set-Off..............................................................................115
35. Application Of Proceeds..............................................................115
36. Notices..............................................................................117
37. Calculations And Certificates........................................................120
38. Partial Invalidity...................................................................120
39. Remedies And Waivers.................................................................121
40. Amendments And Waivers...............................................................121
41. Counterparts.........................................................................122
42. Governing Law........................................................................123
43. Enforcement..........................................................................123
Schedule 1 THE ORIGINAL PARTIES...........................................................124
Part I The Original Obligors.........................................................124
Part II The Original Lenders.........................................................125
Part III Dormant Subsidiaries........................................................126
Schedule 2 CONDITIONS PRECEDENT...........................................................127
Part I Conditions Precedent To Initial Utilisation...................................127
Part II Conditions Precedent Required To Be Delivered By An Additional Obligor.......133
Part III Transaction Security Documents And Security Related Documents To Be
Delivered By Additional Obligors.........................................136
Schedule 3 REQUESTS.......................................................................137
Part I A Utilisation Request.........................................................137
Part I B Utilisation Request.........................................................139
Part II Selection Notice.............................................................141
Schedule 4 MANDATORY COST FORMULAE........................................................142
Schedule 5 FORM OF TRANSFER CERTIFICATE...................................................145
Schedule 6 FORM OF ACCESSION LETTER.......................................................147
Schedule 7 FORM OF COMPLIANCE CERTIFICATE.................................................149
Schedule 8 TIMETABLES.....................................................................151
Part I .......................................................................151
Part II Letters Of Credit............................................................153
Schedule 9 MATERIAL COMPANIES.............................................................154
Schedule 10 LMA CONFIDENTIALITY UNDERTAKING...............................................155
{/Table}
{Page}
{Table}
{S} {C}
Schedule 11...............................................................................160
Part I Existing Retained Facilities..................................................160
Part II Existing Retained Security...................................................162
Schedule 12 FORM OF LETTER OF CREDIT......................................................164
{/Table}
{Page}
THIS AGREEMENT is dated March 2004 and made
BETWEEN:
(1) IRON MOUNTAIN EUROPE LIMITED (registration number 2321917) (the
"PARENT");
(2) THE PARENT AND THE SUBSIDIARIES of the Parent listed in Part I of
Schedule 1 (THE ORIGINAL OBLIGORS) as original borrowers (the "ORIGINAL
BORROWERS");
(3) THE PARENT AND THE SUBSIDIARIES of the Parent listed in Part I of
Schedule 1 (THE ORIGINAL OBLIGORS) as original guarantors (together with
the Parent, the "ORIGINAL GUARANTORS");
(4) BARCLAYS CAPITAL and THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
(whether acting individually or together the "ARRANGER");
(5) THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (THE ORIGINAL
LENDERS) as lenders (the "ORIGINAL LENDERS");
(6) THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND as Facility Agent of
the Lenders (the "FACILITY AGENT");
(7) THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND as Security Trustee for
the Secured Parties (the "SECURITY TRUSTEE"); and
(8) THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND as issuing bank (the
"ISSUING BANK").
IT IS AGREED as follows:
SECTION 1
INTERPRETATION
1. DEFINITIONS AND INTERPRETATION
1.1 DEFINITIONS
In this Agreement:
"ABN CHARGES" means the deeds of mortgage granted by Iron Mountain
Nederland B.V. in favour of ABN Onroerend Goed Lease B.V. and listed in
Part II (EXISTING RETAINED SECURITY) of Schedule 11.
"ABN PLEDGES" means the pledges of bank accounts dated 25 November
1996, 29 December 1997 and 31 October 2000 granted by Iron Mountain
Nederland B.V. in favour of ABN Amro and listed in Part II
(EXISTING RETAINED SECURITY) of Schedule 11.
"ACCESSION LETTER" means a document substantially in the form set out in
Schedule 6 (FORM OF ACCESSION LETTER).
"ACCOUNTING PRINCIPLES" means generally accepted accounting principles
in the United Kingdom.
"ADDITIONAL BORROWER" means a company which becomes an Additional
Borrower in accordance with Clause 28 (CHANGES TO THE OBLIGORS).
- 1 -
{Page}
"ADDITIONAL COST RATE" has the meaning given to it in Schedule 4
(MANDATORY COST FORMULAE).
"ADDITIONAL GUARANTOR" means a company which becomes an Additional
Guarantor in accordance with Clause 28 (CHANGES TO THE OBLIGORS).
"ADDITIONAL OBLIGOR" means an Additional Borrower or an Additional
Guarantor.
"AFFILIATE" means, in relation to any person, a Subsidiary of that
person or a Holding Company of that person or any other Subsidiary of
that Holding Company.
"AGENT'S SPOT RATE OF EXCHANGE" means the Facility Agent's spot rate of
exchange for the purchase of the relevant currency with the Base
Currency in the London foreign exchange market as of 11:00 a.m. on a
particular day.
"ANCILLARY COMMITMENT" means, in relation to an Ancillary Lender the
maximum amount from time to time of the Ancillary Facilities made
available by such Ancillary Lender to the extent not cancelled under
this Agreement or the Ancillary Documents relating to that Ancillary
Facility.
"ANCILLARY DOCUMENT" means each document relating to or evidencing the
terms of an Ancillary Facility.
"ANCILLARY FACILITY" means any ancillary facility made available to any
Obligor upon request as described in Clause 9 (ANCILLARY FACILITIES).
The Facility Agent hereby confirms by its signature to this Agreement
that the following are Ancillary Facilities at the date of this
Agreement,
(a) a L5,000,000 multi option facility made between Bank of Scotland
and certain Obligors dated on or about the date of this
Agreement;
(b) a L5,000,000 facility made between Barclays Bank PLC and certain
Obligors dated on or about the date of this Agreement.
"ANCILLARY LENDER" means any Lender or Lenders selected as an Ancillary
Lender by the Parent by notice to the Facility Agent. Barclays Bank PLC
and The Governor and Company of the Bank of Scotland are Ancillary
Lenders as at the date of this Agreement.
"ANCILLARY OUTSTANDINGS" means, at any time, in relation to an Ancillary
Facility the aggregate of the following amounts outstanding under that
Ancillary Facility then in force:
(a) the principal amount under each overdraft facility and on demand
short term loan facility calculated on a net basis;
(b) the face amount of each guarantee, bond and letter of credit
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