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Title: |
Credit Agreement |
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Date: |
2006 |
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Size: |
Preview shows 37KB of 680KB total |
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$93 |
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ID: |
#2590780 |
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Start of Preview |
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U.S.$935,000,000
CREDIT AGREEMENT
Dated as of October 31, 2006
Among
DRESSER HOLDINGS, INC.,
as Holdings,
DRESSER, INC.,
as U.S. Borrower,
D.I. LUXEMBOURG S.A.R.L.,
as Euro Borrower,
THE LENDERS PARTY HERETO,
MORGAN STANLEY SENIOR FUNDING, INC.,
as Term Administrative Agent,
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Revolving Administrative Agent,
CREDIT SUISSE SECURITIES (USA), LLC,
as Syndication Agent,
MORGAN STANLEY SENIOR FUNDING, INC.
and
CREDIT SUISSE SECURITIES (USA), LLC,
as Joint Lead Arrangers and Joint Book Managers
and
NATEXIS BANQUES POPULAIRES
and
GENERAL ELECTRIC CAPITAL CORPORATION
as Co-Documentation Agents
TABLE OF CONTENTS
| Page | ||||
| ARTICLE I | ||||
| DEFINITIONS | ||||
| SECTION 1.01. | Defined Terms | 1 | ||
| SECTION 1.02. | Terms Generally | 46 | ||
| SECTION 1.03. | Effectuation of Transfers | 47 | ||
| ARTICLE II | ||||
| THE CREDITS | ||||
| SECTION 2.01. | Commitments | 47 | ||
| SECTION 2.02. | Loans and Borrowings | 47 | ||
| SECTION 2.03. | Requests for Borrowings | 48 | ||
| SECTION 2.04. | Swingline Loans | 49 | ||
| SECTION 2.05. | Letters of Credit | 50 | ||
| SECTION 2.06. | Funding of Borrowings | 55 | ||
| SECTION 2.07. | Interest Elections | 56 | ||
| SECTION 2.08. | Termination and Reduction of Commitments | 57 | ||
| SECTION 2.09. | Repayment of Loans; Evidence of Debt | 58 | ||
| SECTION 2.10. | Repayment of Term B Loans and Revolving Facility Loans | 59 | ||
| SECTION 2.11. | Prepayment of Loans; L/C Cash Collateral | 61 | ||
| SECTION 2.12. | Fees | 61 | ||
| SECTION 2.13. | Interest | 63 | ||
| SECTION 2.14. | Alternate Rate of Interest | 64 | ||
| SECTION 2.15. | Increased Costs | 64 | ||
| SECTION 2.16. | Break Funding Payments | 65 | ||
| SECTION 2.17. | Taxes | 66 | ||
| SECTION 2.18. | Payments Generally; Pro Rata Treatment; Sharing of Set-offs | 68 | ||
| SECTION 2.19. | Mitigation Obligations; Replacement of Lenders | 70 | ||
| SECTION 2.20. | Increase in Revolving Facility Commitments and/or Term B Loan Commitments | 71 | ||
| SECTION 2.21. | Illegality | 73 | ||
| SECTION 2.22. | Defeasance of Letters of Credit | 73 | ||
| ARTICLE III | ||||
| REPRESENTATIONS AND WARRANTIES | ||||
| SECTION 3.01. | Organization; Powers | 74 | ||
| SECTION 3.02. | Authorization | 75 | ||
| SECTION 3.03. | Enforceability | 75 | ||
| SECTION 3.04. | Governmental Approvals | 75 | ||
| SECTION 3.05. | Financial Statements | 75 | ||
| SECTION 3.06. | No Material Adverse Effect | 76 | ||
Dresser Credit Agreement
i
|
SECTION 3.07. |
Title to Properties; Possession Under Leases | 76 | ||
|
SECTION 3.08. |
Litigation; Compliance with Laws | 77 | ||
|
SECTION 3.09. |
Federal Reserve Regulations | 78 | ||
|
SECTION 3.10. |
Investment Company Act | 78 | ||
|
SECTION 3.11. |
Use of Proceeds | 78 | ||
|
SECTION 3.12. |
Tax Returns | 78 | ||
|
SECTION 3.13. |
No Material Misstatements | 79 | ||
|
SECTION 3.14. |
Employee Benefit Plans | 79 | ||
|
SECTION 3.15. |
Environmental Matters | 79 | ||
|
SECTION 3.16. |
Mortgages | 80 | ||
|
SECTION 3.17. |
Location of Real Property | 80 | ||
|
SECTION 3.18. |
Solvency | 81 | ||
|
SECTION 3.19. |
Insurance | 81 | ||
| ARTICLE IV | ||||
| CONDITIONS OF LENDING | ||||
|
SECTION 4.01. |
All Credit Events | 81 | ||
|
SECTION 4.02. |
First Credit Event | 82 | ||
| ARTICLE V | ||||
| AFFIRMATIVE COVENANTS | ||||
|
SECTION 5.01. |
Existence; Businesses and Properties | 86 | ||
|
SECTION 5.02. |
Insurance | 86 | ||
|
SECTION 5.03. |
Taxes | 88 | ||
|
SECTION 5.04. |
Financial Statements, Reports, etc. | 88 | ||
|
SECTION 5.05. |
Litigation and Other Notices | 90 | ||
|
SECTION 5.06. |
Compliance with Laws | 90 | ||
|
SECTION 5.07. |
Maintaining Records; Access to Properties and Inspections | 91 | ||
|
SECTION 5.08. |
Use of Proceeds | 91 | ||
|
SECTION 5.09. |
Compliance with Environmental Laws | 91 | ||
|
SECTION 5.10. |
Further Assurances | 91 | ||
|
SECTION 5.11. |
Fiscal Year | 92 | ||
|
SECTION 5.12. |
Post-Closing Matters | 93 | ||
|
SECTION 5.13. |
Ratings | 93 | ||
| ARTICLE VI | ||||
| NEGATIVE COVENANTS | ||||
|
SECTION 6.01. |
Indebtedness | 94 | ||
|
SECTION 6.02. |
Liens | 97 | ||
|
SECTION 6.03. |
Sale and Lease-Back Transactions | 101 | ||
|
SECTION 6.04. |
Investments, Loans and Advances | 101 | ||
|
SECTION 6.05. |
Mergers, Consolidations, Sales of Assets and Acquisitions | 103 | ||
|
SECTION 6.06. |
Dividends and Distributions | 105 | ||
|
SECTION 6.07. |
Transactions with Affiliates | 107 | ||
Dresser Credit Agreement
ii
|
SECTION 6.08. |
Business of Holdings, the Borrowers and the Subsidiaries |
|
End of Preview |
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