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Credit Agreement

 

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Title:

Credit Agreement

Entities:

Banc of America Securities LLC; China Eastern Airlines Corp. Ltd.; Comerica Bank; Denbury Resources Inc.; Deutsche Bank Securities Inc.; Deutsche Bank Trust Company Americas; Fleet National Bank; Genesis Energy, LP; McGraw-Hill Companies Inc.; Royal Bank of Canada; U.S. Bank, NA; Union Bank of California, NA; Wachovia Bank, NA; Bank of America, NA; Akin, Gump, Strauss, Hauer & Feld LLP

Date:

2006

Size:

Preview shows 72KB of 389KB total

Price:

$99

ID:

#2634417

 

 

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CREDIT AGREEMENT
 
dated as of
 
November 15, 2006
 
among
 
GENESIS CRUDE OIL, L.P.,
as the Borrower

GENESIS ENERGY, L.P.,
as the Parent

The Lenders Party Hereto,
 
FORTIS CAPITAL CORP.,
as Administrative Agent,
 
DEUTSCHE BANK SECURITIES INC.,
as Syndication Agent,
 
and
 
BANK OF AMERICA, N.A.,
U.S. BANK NATIONAL ASSOCIATION, and
WACHOVIA BANK, NATIONAL ASSOCIATION,
as Co-Documentation Agents
 
 
$500 MILLION SENIOR SECURED REVOLVING CREDIT FACILITY
 
 
 
FORTIS CAPITAL CORP. AND DEUTSCHE BANK SECURITIES INC.,
as Joint Lead Arrangers and Joint Bookrunners
 
 
TABLE OF CONTENTS
 
   
Page
 ARTICLE I
 DEFINITIONS
     
SECTION 1.01
Defined Terms
1
SECTION 1.02
Classification of Loans and Borrowings
30
SECTION 1.03
Terms Generally
30
SECTION 1.04
Accounting Terms; GAAP
30
     
 ARTICLE II
 THE CREDITS
     
SECTION 2.01
Commitments
30
SECTION 2.02
Loans and Borrowings.
31
SECTION 2.03
Requests for Revolving Borrowings
31
SECTION 2.04
Borrowing Base.
32
SECTION 2.05
Committed Amount.
33
SECTION 2.06
Letters of Credit.
36
SECTION 2.07
Funding of Borrowings.
40
SECTION 2.08
Interest Elections.
40
SECTION 2.09
Termination and Reduction of Committed Amounts and Maximum Amounts.
42
SECTION 2.10
Repayment of Loans; Evidence of Debt.
42
SECTION 2.11
Prepayment of Loans.
43
SECTION 2.12
Fees.
43
SECTION 2.13
Interest.
45
SECTION 2.14
Alternate Rate of Interest
46
SECTION 2.15
Increased Costs.
46
SECTION 2.16
Break Funding Payments
47
SECTION 2.17
Taxes.
48
SECTION 2.18
Payments Generally; Pro Rata Treatment; Sharing of Set-offs.
49
SECTION 2.19
Mitigation Obligations; Replacement of Lenders.
50
     
 ARTICLE III
 REPRESENTATIONS AND WARRANTIES
     
SECTION 3.01
Organization; Powers
51
SECTION 3.02
Authorization; Enforceability
52
SECTION 3.03
Governmental Approvals; No Conflicts
52
SECTION 3.04
Financial Condition; No Material Adverse Change.
52
SECTION 3.05
Other Obligations and Restrictions
53
SECTION 3.06
Properties.
53
SECTION 3.07
Litigation.
54
SECTION 3.08
Compliance with Laws and Agreements
54
SECTION 3.09
Default
55
SECTION 3.10
Investment Company Status
55
SECTION 3.11
Taxes
55
SECTION 3.12
ERISA
55
 
i
 
SECTION 3.13
Disclosure; No Material Misstatements
55
SECTION 3.14
Insurance
56
SECTION 3.15
Material Agreements
56
SECTION 3.16
Imbalances
57
SECTION 3.17
Solvency
57
SECTION 3.18
Labor Disputes and Acts of God
57
SECTION 3.19
Equity Interests and Subsidiaries
58
SECTION 3.20
Intellectual Property.
58
SECTION 3.21
Environmental Matters
59
SECTION 3.22
Reserved.
60
SECTION 3.23
Security Documents
60
SECTION 3.24
Anti-Terrorism Law.
61
SECTION 3.25
Federal Reserve Regulations
62
SECTION 3.26
Use of Proceeds
62
     
 ARTICLE IV
 CONDITIONS
     
SECTION 4.01
Effective Date
62
SECTION 4.02
Each Credit Event
65
     
 ARTICLE V
 AFFIRMATIVE COVENANTS
     
SECTION 5.01
Financial Statements; Ratings Change and Other Information
66
SECTION 5.02
Notices of Material Events
69
SECTION 5.03
Existence; Conduct of Business.
70
SECTION 5.04
Payment of Obligations and Taxes
71
SECTION 5.05
Material Agreements
71
SECTION 5.06
Books and Records; Inspection Rights
71
SECTION 5.07
Compliance with Laws
72
SECTION 5.08
Use of Proceeds and Letters of Credit
72
SECTION 5.09
Environmental Laws.
72
SECTION 5.10
Additional Collateral; Additional Guarantors.
73
SECTION 5.11
Security Interests; Further Assurances
75
SECTION 5.12
Insurance.
75
SECTION 5.13
Agreements Respecting Unrestricted Subsidiaries.
76
SECTION 5.14
Post-Effective Date Items
77
     
 ARTICLE VI
 NEGATIVE COVENANTS
     
SECTION 6.01
Indebtedness
77
SECTION 6.02
Liens
78
SECTION 6.03
Fundamental Changes; Limitations on Business; Limited Purpose of the Parent.
79
SECTION 6.04
Investments, Loans, Advances, and Guarantees
 

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