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Title: |
Credit Agreement |
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Entities: |
Energy Partners, Ltd.; Ev Classic Senior Floating Rate Fund; J.P. Morgan Securities Inc.; JPMorgan Chase Bank; McGraw-Hill Companies Inc.; Union Bank of California, NA; Wachovia Bank, NA; Society of Petroleum Engineers; Vorys, Sater, Seymour and Pease LLP |
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Date: |
2006 |
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Size: |
Preview shows 38KB of 343KB total |
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Price: |
$71 |
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ID: |
#2517583 |
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Start of Preview |
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| Page | ||||||
| ARTICLE I | ||||||
| DEFINITIONS AND ACCOUNTING MATTERS | ||||||
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Section 1.01 |
Terms Defined Above | 1 | ||||
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Section 1.02 |
Certain Defined Terms | 1 | ||||
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Section 1.03 |
Types of Loans and Borrowings | 21 | ||||
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Section 1.04 |
Terms Generally | 21 | ||||
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Section 1.05 |
Accounting Terms and Determinations; GAAP | 21 | ||||
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| ARTICLE II | ||||||
| THE CREDITS | ||||||
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Section 2.01 |
Commitments | 22 | ||||
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Section 2.02 |
Loans and Borrowings | 22 | ||||
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Section 2.03 |
Requests for Borrowings | 23 | ||||
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Section 2.04 |
Interest Elections | 24 | ||||
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Section 2.05 |
Funding of Borrowings | 26 | ||||
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Section 2.06 |
Termination, Reduction and Increase of Aggregate Maximum Credit Amounts | 26 | ||||
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Section 2.07 |
Borrowing Base | 29 | ||||
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Section 2.08 |
Letters of Credit | 31 | ||||
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| ARTICLE III | ||||||
| PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES |
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Section 3.01 |
Repayment of Loans | 36 | ||||
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Section 3.02 |
Interest | 36 | ||||
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Section 3.03 |
Alternate Rate of Interest | 37 | ||||
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Section 3.04 |
Prepayments | 38 | ||||
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Section 3.05 |
Fees | 39 | ||||
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| ARTICLE IV | ||||||
| PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS. | ||||||
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Section 4.01 |
Payments Generally; Pro Rata Treatment; Sharing of Set-offs | 40 | ||||
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Section 4.02 |
Presumption of Payment by the Borrower | 41 | ||||
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Section 4.03 |
Certain Deductions by the Administrative Agent | 42 | ||||
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| ARTICLE V | ||||||
| INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY | ||||||
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Section 5.01 |
Increased Costs | 42 | ||||
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Section 5.02 |
Break Funding Payments | 43 | ||||
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Section 5.03 |
Taxes | 43 | ||||
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Section 5.04 |
Designation of Different Lending Office | 44 | ||||
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Section 5.05 |
Illegality | 45 | ||||
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| ARTICLE VI | ||||||
| CONDITIONS PRECEDENT | ||||||
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Section 6.01 |
Effective Date | 45 | ||||
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Section 6.02 |
Each Credit Event | 48 | ||||
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| ARTICLE VII | ||||||
| REPRESENTATIONS AND WARRANTIES | ||||||
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Section 7.01 |
Organization; Powers | 49 | ||||
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Section 7.02 |
Authority; Enforceability | 49 | ||||
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Section 7.03 |
Approvals; No Conflicts | 49 | ||||
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Section 7.04 |
Financial Position; No Material Adverse Change | 49 | ||||
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Section 7.05 |
Litigation | 50 | ||||
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Section 7.06 |
Environmental Matters | 50 | ||||
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Section 7.07 |
Compliance with the Laws and Agreements; No Defaults | 51 | ||||
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Section 7.08 |
Investment Company Act | 52 | ||||
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Section 7.09 |
Taxes | 52 | ||||
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Section 7.10 |
ERISA | 52 | ||||
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Section 7.11 |
Disclosure; No Material Misstatements | 53 | ||||
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Section 7.12 |
Insurance | 54 | ||||
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Section 7.13 |
Restriction on Liens | 54 | ||||
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Section 7.14 |
Subsidiaries | 54 | ||||
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Section 7.15 |
Location of Business and Offices | 54 | ||||
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Section 7.16 |
Properties; Titles, Etc. | 55 | ||||
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Section 7.17 |
Maintenance of Properties | 55 | ||||
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Section 7.18 |
Gas Imbalances, Prepayments | 56 | ||||
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Section 7.19 |
Marketing of Production | 56 | ||||
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Section 7.20 |
Swap Agreements | 56 | ||||
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Section 7.21 |
Use of Loans and Letters of Credit | 57 | ||||
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Section 7.22 |
Solvency | 57 | ||||
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| ARTICLE VIII | ||||||
| AFFIRMATIVE COVENANTS | ||||||
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Section 8.01 |
Financial Statements; Ratings Change; Other Information | 58 | ||||
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Section 8.02 |
Notices of Material Events | 60 | ||||
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Section 8.03 |
Existence; Conduct of Business | 61 | ||||
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Section 8.04 |
Payment of Obligations | 61 | ||||
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Section 8.05 |
Performance of Obligations under Loan Documents | 61 | ||||
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Section 8.06 |
Operation and Maintenance of Properties | 61 | ||||
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Section 8.07 |
Insurance | 62 | ||||
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Section 8.08 |
Books and Records; Inspection Rights | 62 | ||||
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Section 8.09 |
Compliance with Laws | 63 | ||||
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Section 8.10 |
Environmental Matters | 63 | ||||
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Section 8.11 |
Further Assurances | 64 | ||||
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Section 8.12 |
Reserve Reports | 64 | ||||
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Section 8.13 |
Title Information | 65 | ||||
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Section 8.14 |
Additional Collateral; Additional Guarantors | 66 | ||||
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Section 8.15 |
ERISA Compliance | 67 | ||||
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Section 8.16 |
Marketing Activities | |||||
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End of Preview |
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