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Document Preview Senior Secured Revolving Credit Agreement |
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Title: |
Senior Secured Revolving Credit Agreement |
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Entities: |
Comerica Bank; Hornbeck Offshore Service Inc.; Wells Fargo Bank, NA; Winstead Sechrest & Minick |
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Date: |
2006 |
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Size: |
Preview shows 41KB of 513KB total |
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Price: |
$99 |
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ID: |
#2552786 |
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Start of Preview |
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SENIOR SECURED REVOLVING CREDIT AGREEMENT
DATED AS OF
SEPTEMBER 27, 2006
AMONG
HORNBECK OFFSHORE SERVICES, LLC
and
HORNBECK OFFSHORE TRANSPORTATION, LLC,
AS BORROWERS,
HORNBECK OFFSHORE SERVICES, INC.,
AS PARENT GUARANTOR
WELLS FARGO BANK, N.A.,
AS ADMINISTRATIVE AGENT,
COMERICA BANK,
AS SYNDICATION AGENT,
AND
THE LENDERS PARTY HERETO
SOLE LEAD ARRANGER AND SOLE BOOKRUNNER
WELLS FARGO BANK, N.A.
TABLE OF CONTENTS
| Page | ||||
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ARTICLE I Definitions and Accounting Matters |
1 | |||
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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 | 19 | ||
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Section 1.04 |
Terms Generally; Rules of Construction | 19 | ||
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Section 1.05 |
Accounting Terms and Determinations; GAAP | 20 | ||
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ARTICLE II The Credits |
20 | |||
|
Section 2.01 |
Commitments | 20 | ||
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Section 2.02 |
Reserved | 21 | ||
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Section 2.03 |
Borrowings; Several Obligations | 21 | ||
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Section 2.04 |
Interest Elections | 23 | ||
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Section 2.05 |
Funding of Borrowings | 24 | ||
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Section 2.06 |
Termination and Reduction of Commitments | 24 | ||
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Section 2.07 |
Reserved | 25 | ||
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Section 2.08 |
Letters of Credit | 25 | ||
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Section 2.09 |
Swing Line Loans | 30 | ||
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Section 2.10 |
Commitment Increase | 32 | ||
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Section 2.11 |
Joint and Several Liability of the Borrowers | 34 | ||
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Section 2.12 |
Replacement of Lender | 35 | ||
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ARTICLE III Payments of Principal and Interest; Prepayments; Fees |
36 | |||
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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 | 37 | ||
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Section 3.05 |
Fees | 39 | ||
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ARTICLE IV Payments; Pro Rata Treatment; Sharing of Set-offs |
40 | |||
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Section 4.01 |
Payments; Pro Rata Treatment; Sharing of Set-offs | 40 | ||
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Section 4.02 |
Presumption of Payment by the Borrowers | 41 | ||
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Section 4.03 |
Certain Deductions by the Administrative Agent | 41 | ||
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ARTICLE V Increased Costs; Break Funding Payments; Taxes; Illegality |
41 | |||
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Section 5.01 |
Increased Costs | 41 | ||
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Section 5.02 |
Break Funding Payments | 42 | ||
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Section 5.03 |
Taxes | 43 | ||
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Section 5.04 |
Mitigation Obligations | 44 | ||
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Section 5.05 |
Illegality | 44 | ||
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ARTICLE VI Conditions Precedent |
45 | |||
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Section 6.01 |
Effective Date | 45 | ||
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Section 6.02 |
Each Credit Event | 47 | ||
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ARTICLE VII Representations and Warranties |
48 | |||
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Section 7.01 |
Organization; Powers | 48 | ||
-i-
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Section 7.02 |
Authority; Enforceability | 48 | ||
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Section 7.03 |
Approvals; No Conflicts | 48 | ||
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Section 7.04 |
Financial Projections; No Material Adverse Change | 49 | ||
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Section 7.05 |
Litigation | 49 | ||
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Section 7.06 |
Environmental Matters | 49 | ||
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Section 7.07 |
Compliance with the Laws and Agreements; No Defaults | 50 | ||
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Section 7.08 |
Investment Company Act | 51 | ||
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Section 7.09 |
Reserved | 51 | ||
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Section 7.10 |
Taxes | 51 | ||
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Section 7.11 |
ERISA | 51 | ||
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Section 7.12 |
Disclosure; No Material Misstatements | 52 | ||
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Section 7.13 |
Insurance | 52 | ||
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Section 7.14 |
Restriction on Liens | 53 | ||
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Section 7.15 |
Subsidiaries | 53 | ||
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Section 7.16 |
Location of Business and Offices | 53 | ||
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Section 7.17 |
Properties; Titles, Etc. | 53 | ||
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Section 7.18 |
Reserved | 54 | ||
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Section 7.19 |
Swap Agreements | 54 | ||
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Section 7.20 |
Use of Proceeds | 54 | ||
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Section 7.21 |
Solvency | 54 | ||
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ARTICLE VIII Affirmative Covenants |
54 | |||
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Section 8.01 |
Financial Statements and Reports | 54 | ||
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Section 8.02 |
Certificates of Compliance | 56 | ||
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Section 8.03 |
Taxes and Other Liens | 56 | ||
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Section 8.04 |
Existence; Compliance | 56 | ||
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Section 8.05 |
Further Assurances | 56 | ||
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Section 8.06 |
Performance of Obligations | 57 | ||
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Section 8.07 |
Reserved | 57 | ||
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Section 8.08 |
Insurance | 57 | ||
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Section 8.09 |
Accounts and Records | 59 | ||
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Section 8.10 |
Right of Inspection | 59 | ||
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Section 8.11 |
Maintenance of Properties | 60 | ||
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Section 8.12 |
Notice of Certain Events | 60 | ||
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Section 8.13 |
ERISA Information and Compliance | 61 | ||
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Section 8.14 |
Charters | 61 | ||
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Section 8.15 |
Security | 61 | ||
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Section 8.16 |
Collateral Value | 62 | ||
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Section 8.17 |
Deposit Accounts | 63 | ||
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Section 8.18 |
Appraisal | 63 | ||
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ARTICLE IX Negative Covenants |
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