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Credit Agreement

 

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Title:

Credit Agreement

Entities:

Getty Realty Corp.

Date:

2007

Size:

Preview shows 58KB of 307KB total

Price:

$68

ID:

#2790795

 

 

► Loans ► Credit Agreements
► Real Estate

 

 

Start of Preview


 


 
 
$175,000,000
CREDIT AGREEMENT
 
 
dated as of
 
 
March 27, 2007
 
 
among
 
 
GETTY REALTY CORP.,
 
 
The Lenders Party Hereto
 
 
and
 
 
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
 
CHARTER ONE BANK, N.A.,
as Syndication Agent
 
 
___________________________
 
J.P. MORGAN SECURITIES INC.,
as Sole Bookrunner and Sole Lead Arranger
 
 


 

 
TABLE OF CONTENTS
 
ARTICLE I.
   
Definitions
1
   
 
Section 1.01
Defined Terms
1
Section 1.02
Classification of Loans and Borrowings
16
Section 1.03
Terms Generally
16
Section 1.04
Accounting Terms; GAAP
17
     
ARTICLE II.
 
 
The Credits
17
     
Section 2.01
Commitments
17
Section 2.02
Loans and Borrowings
18
Section 2.03
Requests for Revolving Borrowings
18
Section 2.04
Increase in Commitments
19
Section 2.05
Swingline Loans
20
Section 2.06
Letters of Credit
21
Section 2.07
Funding of Borrowings
25
Section 2.08
Interest Elections
26
Section 2.09
Termination and Reduction of Commitments
27
Section 2.10
Repayment of Loans; Evidence of Debt
27
Section 2.11
Prepayment of Loans
28
Section 2.12
Fees
29
Section 2.13
Interest
30
Section 2.14
Alternate Rate of Interest
31
Section 2.15
Increased Costs
31
Section 2.16
Break Funding Payments
32
Section 2.17
Taxes
33
Section 2.18
Payments Generally; Pro Rata Treatment; Sharing of Set-offs
34
Section 2.19
Mitigation Obligations; Replacement of Lenders
35
Section 2.20
Extension of Maturity Date
36
     
ARTICLE III.
   
Representations and Warranties
36
     
Section 3.01
Organization; Powers
37
Section 3.02
Authorization; Enforceability
37
Section 3.03
Governmental Approvals; No Conflicts
37
Section 3.04
Financial Condition; No Material Adverse Change
37
Section 3.05
Properties.
37
Section 3.06
No Material Litigation
38
Section 3.07
Compliance with Laws and Agreements
38
Section 3.08
Investment and Holding Company Status
38
Section 3.09
Taxes
38
Section 3.10
ERISA
38
Section 3.11
Federal Regulations
39
Section 3.12
Environmental Matters
39
Section 3.13
Insurance
39
Section 3.14
Condition of Properties
40
 
i

 

 
Section 3.15
REIT Status
40
Section 3.16
Disclosure
40
     
ARTICLE IV.
   
Conditions
40
     
Section 4.01
Effective Date
40
Section 4.02
Each Credit Event
42
     
ARTICLE V.
   
Affirmative Covenants
42
     
Section 5.01
Financial Statements and Other Information
42
Section 5.02
Notices of Material Events
44
Section 5.03
Existence; Conduct of Business; REIT Status
44
Section 5.04
Payment of Obligations
44
Section 5.05
Maintenance of Properties; Insurance
45
Section 5.06
Books and Records; Inspection Rights
45
Section 5.07
Compliance with Laws
45
Section 5.08
Environmental Laws
45
Section 5.09
Use of Proceeds and Letters of Credit
46
     
ARTICLE VI.
   
Negative Covenants
46
     
Section 6.01
Financial Covenants
46
Section 6.02
Indebtedness
47
Section 6.03
Liens
47
Section 6.04
Limitation on Certain Fundamental Changes
48
Section 6.05
Limitation on Restricted Payments
49
Section 6.06
Limitation on Investments, Loans and Advances
49
Section 6.07
Limitation on Transactions with Affiliates
49
Section 6.08
Limitation on Changes in Fiscal Year
49
Section 6.09
Limitation on Lines of Business; Creation of Subsidiaries;
 
 
Negative Pledges
50
Section 6.10
Swap Agreements
50
Section 6.11
Secured Recourse Indebtedness
50
     
ARTICLE VII.
   
Events of Default
50
     
ARTICLE VIII.
   
The Administrative Agent
53
     
ARTICLE IX.
   
Miscellaneous
55
     
Section 9.01
Notices
55
Section 9.02
Waivers; Amendments
56
Section 9.03
Expenses; Indemnity; Damage Waiver
57
Section 9.04
Successors and Assigns

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