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Restated Credit Agreement was omitted. The omitted information is marked with
bolded brackets and double asterisks [**]. The omitted information has been
filed separately with the Securities and Exchange Commission.
TWELFTH AMENDED AND RESTATED
CREDIT AGREEMENT
Dated as of July 25, 2006
among
AIRGAS, INC.,
AIRGAS CANADA INC. and RED-D-ARC LIMITED,
as Borrowers
CERTAIN SUBSIDIARIES OF AIRGAS, INC.
FROM TIME TO TIME PARTY HERETO,
as Guarantors
THE SEVERAL LENDERS
FROM TIME TO TIME PARTY HERETO,
BANK OF AMERICA, N.A.,
as U.S. Agent
and
THE BANK OF NOVA SCOTIA,
as Canadian Agent
JPMORGAN CHASE BANK, N.A.,
as Syndication Agent,
THE BANK OF NEW YORK,
THE BANK OF NOVA SCOTIA,
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
and
PNC BANK, NATIONAL ASSOCIATION,
as Co-Documentation Agents,
and
BANC OF AMERICA SECURITIES LLC
and
J.P. MORGAN SECURITIES INC.,
as Joint Lead Arrangers and Co-Book Managers,
{PAGE}
TABLE OF CONTENTS
{TABLE}
{S} {C}
ARTICLE I DEFINITIONS..................................................... 1
1.1 Definitions...................................................... 1
1.2 Computation of Time Periods...................................... 26
1.3 Accounting Terms................................................. 27
ARTICLE II U.S. DOLLAR CREDIT FACILITIES.................................. 27
2.1 U.S. Revolving Loans............................................. 27
2.2 Competitive U.S. Loan Subfacility................................ 29
2.3 U.S. Letter of Credit Subfacility................................ 31
2.4 U.S. Swingline Loan Subfacility.................................. 35
2.5 U.S. Term Loan................................................... 37
ARTICLE III CANADIAN DOLLAR CREDIT FACILITIES............................. 38
3.1 Canadian Revolving Loans......................................... 39
3.2 Canadian Swingline Loan Subfacility.............................. 40
3.3 Canadian Letter of Credit Subfacility............................ 41
3.4 Bankers' Acceptances............................................. 45
3.5 Removal of a Canadian Borrower................................... 47
3.6 Reset Mechanism.................................................. 47
3.7 Certain Waivers.................................................. 47
ARTICLE IV OTHER PROVISIONS RELATING TO CREDIT FACILITIES................. 47
4.1 Default Rate..................................................... 47
4.2 Extension and Conversion......................................... 48
4.3 Prepayments...................................................... 49
4.4 Termination and Reduction of Commitments; Increase of
Commitments...................................................... 50
4.5 Fees............................................................. 53
4.6 Capital Adequacy................................................. 55
4.7 Inability To Determine Interest Rate............................. 56
4.8 Illegality....................................................... 56
4.9 Requirements of Law.............................................. 57
4.10 Taxes............................................................ 57
4.11 Indemnity........................................................ 59
4.12 Payments Generally; Agents' Clawback............................. 59
4.13 Sharing of Payments.............................................. 61
4.14 Computations; Allocation of Payments Post-Acceleration........... 61
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