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Title: |
Credit Agreement |
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Entities: |
Constellation Energy Group Inc.; Constellation Energy Group, Inc.; Constellation Energy Partners LLC; McGraw-Hill Companies Inc.; Royal Bank of Scotland plc; Torch Energy Royalty Trust; Society of Petroleum Engineers; ShawPittman LLP |
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Date: |
2006 |
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Size: |
Preview shows 36KB of 315KB total |
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Price: |
$75 |
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ID: |
#2539699 |
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Start of Preview |
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$200,000,000
CREDIT AGREEMENT
DATED AS OF OCTOBER [ ], 2006
AMONG
CONSTELLATION ENERGY PARTNERS LLC
AS BORROWER,
THE ROYAL BANK OF SCOTLAND plc
AS ADMINISTRATIVE AGENT,
RBS SECURITIES CORPORATION
AS LEAD ARRANGER AND SOLE BOOK RUNNER,
AND
THE LENDERS PARTY HERETO
TABLE OF CONTENTS
| PAGE | ||||
| ARTICLE I | ||||
| DEFINITIONS AND ACCOUNTING MATTERS | ||||
| Section 1.01 | Terms Defined Above | 1 | ||
| Section 1.02 | Certain Defined Terms | 1 | ||
| Section 1.03 | Terms Generally | 20 | ||
| Section 1.04 | Accounting Terms and Determinations; GAAP | 20 | ||
| ARTICLE II | ||||
| THE CREDITS | ||||
| Section 2.01 | Commitments | 21 | ||
| Section 2.02 | Loans and Borrowings | 21 | ||
| Section 2.03 | Requests for Borrowings | 22 | ||
| Section 2.04 | Interest Elections | 23 | ||
| Section 2.05 | Funding of Borrowing | 24 | ||
| Section 2.06 | Termination and Reduction of Aggregate Maximum Credit Amounts | 24 | ||
| Section 2.07 | Borrowing Base | 25 | ||
| Section 2.08 | Letters of Credit | 29 | ||
| ARTICLE III | ||||
| PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES | ||||
| Section 3.01 | Repayment of Loans | 34 | ||
| Section 3.02 | Interest | 34 | ||
| Section 3.03 | Prepayments | 35 | ||
| Section 3.04 | Fees | 36 | ||
| ARTICLE IV | ||||
| PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS. | ||||
| Section 4.01 | Payments Generally; Pro Rata Treatment; Sharing of Set-offs | 37 | ||
| Section 4.02 | Presumption of Payment by the Borrower | 38 | ||
| Section 4.03 | Certain Deductions by the Administrative Agent | 38 | ||
| ARTICLE V | ||||
| INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY | ||||
| Section 5.01 | Increased Costs | 39 | ||
| Section 5.02 | Break Funding Payments | 40 | ||
| Section 5.03 | Taxes | 40 | ||
| Section 5.04 | Designation of Different Lending Office | 41 | ||
| Section 5.05 | Illegality | 41 | ||
| Section 5.06 | Replacement of a Lender | 42 | ||
i
| ARTICLE VI | ||||
| CONDITIONS PRECEDENT | ||||
| Section 6.01 | Closing Date | 43 | ||
| Section 6.02 | Each Credit Event | 45 | ||
| ARTICLE VII | ||||
| REPRESENTATIONS AND WARRANTIES | ||||
| Section 7.01 | Organization; Powers | 46 | ||
| Section 7.02 | Authority; Enforceability | 46 | ||
| Section 7.03 | Approvals; No Conflicts | 46 | ||
| Section 7.04 | Financial Statements | 47 | ||
| Section 7.05 | Litigation | 47 | ||
| Section 7.06 | Environmental Matters | 47 | ||
| Section 7.07 | Compliance with the Laws and Agreements | 48 | ||
| Section 7.08 | Investment Company Act | 48 | ||
| Section 7.09 | Taxes | 48 | ||
| Section 7.10 | ERISA | 49 | ||
| Section 7.11 | Disclosure; No Material Misstatements | 50 | ||
| Section 7.12 | Insurance | 50 | ||
| Section 7.13 | Restriction on Liens | 50 | ||
| Section 7.14 | Subsidiaries | 50 | ||
| Section 7.15 | Location of Business and Offices | 51 | ||
| Section 7.16 | Properties; Titles, Etc. | 51 | ||
| Section 7.17 | Title | 52 | ||
| Section 7.18 | Security Instruments. | 53 | ||
| Section 7.19 | Maintenance of Properties | 53 | ||
| Section 7.20 | Gas Imbalances, Prepayments | 54 | ||
| Section 7.21 | Marketing of Production | 54 | ||
| Section 7.22 | Swap Agreements | 54 | ||
| Section 7.23 | Use of Loans and Letters of Credit | 54 | ||
| Section 7.24 | Solvency | 55 | ||
| ARTICLE VIII | ||||
| AFFIRMATIVE COVENANTS | ||||
| Section 8.01 | Financial Statements; Ratings Change; Other Information | 55 | ||
| Section 8.02 | Notices of Material Events | 58 | ||
| Section 8.03 | Existence; Conduct of Business | 59 | ||
| Section 8.04 | Payment of Obligations | 59 | ||
| Section 8.05 | Performance of Obligations under Loan Documents | 59 | ||
| Section 8.06 | Operation and Maintenance of Properties | 59 | ||
| Section 8.07 | Insurance | 60 | ||
| Section 8.08 | Books and Records; Inspection Rights | 60 | ||
| Section 8.09 | Compliance with Laws | 60 | ||
ii
| Section 8.10 | Environmental Matters | 60 | ||
| Section 8.11 | Further Assurances | 61 | ||
| Section 8.12 | Title Information | 62 | ||
| Section 8.13 | Additional Collateral; Additional Guarantors | 62 | ||
| Section 8.14 | ERISA Compliance | 63 | ||
| Section 8.15 | Marketing Activities | 64 | ||
| Section 8.16 | Title | 64 | ||
| Section 8.17 | Board Composition | 64 | ||
| ARTICLE IX | ||||
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End of Preview |
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