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Credit Agreement

 

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Title:

Credit Agreement

Entities:

J.P. Morgan Securities Inc.; NPC International Inc; Wells Fargo Bank, NA; Bank of America, NA; Stinson Morrison Hecker

Date:

2006

Size:

Preview shows 105KB of 461KB total

Price:

$99

ID:

#2577875

 

 

► Loans ► Credit Agreements
► Financial
► Financial ► Money Center Banks
► Services ► Legal

 

 

Start of Preview


 

$375,000,000

CREDIT AGREEMENT

Dated as of May 3, 2006

Among

NPC INTERNATIONAL, INC.,
as Borrower,

NPC ACQUISITION HOLDINGS, LLC
and
THE OTHER GUARANTORS PARTY HERETO,
as Guarantors,

JPMORGAN CHASE BANK, N.A.,
as Administrative Agent, Collateral Agent and Issuing Bank,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
as Syndication Agent,

BANK OF AMERICA, N.A. 
and,
SUNTRUST BANK
as Co-Documentation Agents

 

and

THE LENDERS SIGNATORY HERETO


 

J.P. MORGAN SECURITIES INC.
and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Joint Lead Arrangers and Joint Bookrunners

 



 

TABLE OF CONTENTS

 

 

 

Page

 

 

 

ARTICLE I

 

 

 

 

DEFINITIONS AND ACCOUNTING MATTERS

 

 

 

 

Section 1.01

Certain Defined Terms

2

Section 1.02

Accounting Terms; GAAP

36

Section 1.03

Terms Generally

36

Section 1.04

Resolution of Drafting Ambiguities

37

 

 

 

ARTICLE II

 

 

 

 

COMMITMENTS

 

 

 

 

Section 2.01

Loans and Letters of Credit

37

Section 2.02

Borrowings, Continuations and Conversions, Letters of Credit

39

Section 2.03

Letters of Credit

40

Section 2.04

Changes of Commitments

45

Section 2.05

Fees

45

Section 2.06

Several Obligations

47

Section 2.07

Notes

47

Section 2.08

Prepayments

47

Section 2.09

[RESERVED]

51

Section 2.10

[RESERVED]

51

Section 2.11

Lending Offices

51

Section 2.12

Increase in Commitments

51

 

 

 

ARTICLE III

 

 

 

 

PAYMENTS OF PRINCIPAL AND INTEREST

 

 

 

 

Section 3.01

Repayment of Loans

53

Section 3.02

Interest

53

 

 

 

ARTICLE IV

 

 

 

 

PAYMENTS; PRO RATA TREATMENT; COMPUTATIONS; ETC.

 

 

 

 

Section 4.01

Payments

54

Section 4.02

Pro Rata Treatment

55

Section 4.03

Computations

55

Section 4.04

Non-receipt of Funds by the Administrative Agent

56

Section 4.05

Set-off, Sharing of Payments, Etc.

56

Section 4.06

Taxes

57

 

i



 

 

 

Page

 

 

 

ARTICLE V

 

 

 

 

CAPITAL ADEQUACY AND ADDITIONAL COSTS

 

 

 

 

Section 5.01

Alternate Rate of Interest

59

Section 5.02

Increased Costs

60

Section 5.03

Break Funding Payments

61

Section 5.04

Mitigation Obligations; Replacement of Lenders

62

 

 

 

ARTICLE VI

 

 

 

 

CONDITIONS PRECEDENT

 

 

 

 

Section 6.01

Initial Funding

62

Section 6.02

Initial and Subsequent Loans and Letters of Credit

68

Section 6.03

Conditions Precedent for the Benefit of Lenders

68

Section 6.04

No Waiver, Etc

68

 

 

 

ARTICLE VII

 

 

 

 

REPRESENTATIONS AND WARRANTIES

 

 

 

 

Section 7.01

Corporate Existence

69

Section 7.02

Financial Condition

69

Section 7.03

Litigation

70

Section 7.04

No Breach

70

Section 7.05

Authority

70

Section 7.06

Approvals

71

Section 7.07

Use of Loans

71

Section 7.08

ERISA

71

Section 7.09

Taxes

72

Section 7.10

Titles, Etc.

73

Section 7.11

No Material Misstatements

74

Section 7.12

Investment Company Act

74

Section 7.13

Capital Securities and Subsidiaries

74

Section 7.14

Labor Matters

75

Section 7.15

Defaults

75

Section 7.16

Environmental Matters

75

Section 7.17

Compliance with the Law

76

Section 7.18

Insurance

77

Section 7.19

Restriction on Liens

77

Section 7.20

Material Agreements

77

Section 7.21

Solvency

77

Section 7.22

Fiscal Year

78

Section 7.23

Stockholders of Holdings

78

Section 7.24

Intellectual Property

78

Section 7.25

Security Instruments

78

 

ii



 

 

 

Page

 

 

 

Section 7.26

Acquisition Documents

79

Section 7.27

[RESERVED]

80

Section 7.28

Subordination of Senior Subordinated Notes

80

Section 7.29

Franchise Agreements

80

 

 

 

ARTICLE VIII

 

 

 

 

AFFIRMATIVE COVENANTS

 

 

 

 

Section 8.01

Reporting Requirements

80

Section 8.02

Litigation and Other Notices

82

Section 8.03

Maintenance, Etc.

83

Section 8.04

Environmental Matters

84

Section 8.05

Further Assurances

85

Section 8.06

Performance of Obligations

85

Section 8.07

ERISA Information and Compliance

85

Section 8.08

Certain Agreements

86

Section 8.09

Additional Collateral; Additional Guarantors

86

Section 8.10

Taxes

88

Section 8.11

Information Regarding Collateral

89

Section 8.12

Interest Rate Protection