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Credit Agreement

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Title:

Credit Agreement

Entities:

Abbey National plc

Date:

2007

Size:

Preview shows 42KB of 226KB total

Price:

$52

ID:

#2759933

► Loans ► Credit Agreements
► Financial ► Regional Banks

Start of Preview

CREDIT AGREEMENT

dated as of

March 14, 2007

among

RESORTS INTERNATIONAL HOTEL, INC., RESORTS PROPCO, INC., NEW PIER

OPERATING COMPANY, INC., RESORTS REAL ESTATE HOLDINGS, INC. AND

RESORTS FINANCE HOLDINGS, INC.

as Borrower

COLUMN FINANCIAL, INC.

as a Lender and Administrative Agent

and

CREDIT SUISSE, NEW YORK BRANCH

as the Issuing Bank

TABLE OF CONTENTS


		Page
	ARTICLE I

	Definitions

Section 1.01	Defined Terms	1
Section 1.02	Classification of Loans and Borrowings	19
Section 1.03	Terms Generally	19
Section 1.04	Accounting Terms; GAAP	19

	ARTICLE II

	The Credits

Section 2.01	Commitment	20
Section 2.02	Loans and Borrowings	20
Section 2.03	Requests for Revolving Borrowings	20
Section 2.04	[RESERVED]	21
Section 2.05	[RESERVED]	21
Section 2.06	Letters of Credit	21
Section 2.07	Funding of Borrowings	24
Section 2.08	[RESERVED]	25
Section 2.09	Termination and Reduction of Commitment	25
Section 2.10	Repayment of Loans; Evidence of Debt	25
Section 2.11	Prepayment of Loans	26
Section 2.12	Fees	26
Section 2.13	Interest	27
Section 2.14	Alternate Rate of Interest	27
Section 2.15	Increased Costs	28
Section 2.16	Break Funding Payments	29
Section 2.17	Taxes	29
Section 2.18	Payments Generally	31
Section 2.19	Mitigation Obligations; Replacement of a Lender	31

	ARTICLE III

	Representations and Warranties

Section 3.01	Organization; Powers	32
Section 3.02	Authorization; Enforceability	32
Section 3.03	Governmental Approvals; No Conflicts	32
Section 3.04	Financial Condition; No Material Adverse Change	33
Section 3.05	Properties	33
Section 3.06	Litigation	33
Section 3.07	Compliance with Laws and Agreements	33

- i -


Section 3.08	Investment Company Status	33
Section 3.09	Taxes	34
Section 3.10	Disclosure	34
Section 3.11	Agreements	34
Section 3.12	Solvency	34
Section 3.13	Federal Reserve Regulations	35
Section 3.14	Not a Foreign Person	35
Section 3.15	Enforceability	35
Section 3.16	Forfeiture	35
Section 3.17	Taxpayer Identification Number	35
Section 3.18	OFAC	35
Section 3.19	Embargoed Person	36
Section 3.20	[RESERVED]	36
Section 3.21	Incorporation by Reference	36
Section 3.22	Survival of Representations	36

	ARTICLE IV

	Conditions

Section 4.01	Effective Date	37
Section 4.02	Each Credit Event	38

	ARTICLE V

	Affirmative Covenants

Section 5.01	Financial Reporting.	38
Section 5.02	Notices of Material Events	40
Section 5.03	Existence	40
Section 5.04	Payment of Obligations	40
Section 5.05	Maintenance of Properties; Insurance	40
Section 5.06	Books and Records; Inspection Rights	41
Section 5.07	Compliance with Laws	41
Section 5.08	Use of Proceeds and Letters of Credit	41
Section 5.09	Cooperate in Legal Proceedings	41
Section 5.10	Further Assurances	41
Section 5.11	Business and Operations	42
Section 5.12	Costs of Enforcement	42
Section 5.13	Performance by Borrower	42
Section 5.14	OFAC	42
Section 5.15	Loan Agreement Covenants	42
Section 5.16	Previous Letters of Credit	43

	ARTICLE VI

	Negative Covenants

Section 6.01	Indebtedness of Borrower	43

- ii -


Section 6.02	Liens	43
Section 6.03	Fundamental Changes	43
Section 6.04	Swap Agreements	44
Section 6.05	Restricted Payments	44
Section 6.06	Transactions with Affiliates	44
Section 6.07	Restrictive Agreements	44
Section 6.08	Debt Cancellation	45
Section 6.09	Name, Identity, Structure, or Principal Place of Business	45
Section 6.10	ERISA	45
Section 6.11	Transfers	45
Section 6.12	Amendments	47
Section 6.13	Loan Agreement Covenants	47

	ARTICLE VII

	Events of Default; Remedies

End of Preview

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