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Title: |
Credit Agreement |
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Entities: |
Banc One Capital Markets, Inc.; Bank One, NA; Comerica Bank; Fleet National Bank; NVR Inc.; U.S. Bank, NA; International Swaps & Derivatives Association, Inc.; Bank of New York |
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Date: |
2003 |
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Size: |
Preview shows 31KB of 276KB total |
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Price: |
$98 |
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ID: |
#325195 |
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Start of Preview |
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CREDIT AGREEMENT
among
NVR, INC.
and
the Lenders Party Hereto
and
BANK ONE, NA,
as Administrative Agent,
U.S. BANK NATIONAL ASSOCIATION
And
COMERICA BANK,
as Syndication Agents
And
SUNTRUST BANK,
as Documentation Agent
with
BANC ONE CAPITAL MARKETS, INC.
as Lead Arranger and Sole Book Runner
Dated: August 8, 2003
5
Table of Contents
|
ARTICLE I CERTAIN DEFINED TERMS |
6 | |||
|
SECTION 1.01. Certain Defined Terms |
6 | |||
|
SECTION 1.02. Computation of Time Periods |
27 | |||
|
SECTION 1.03. Accounting Terms |
27 | |||
|
ARTICLE II THE CREDITS |
27 | |||
|
SECTION 2.01. Aggregate Commitment |
27 | |||
|
SECTION 2.02. Swing Line Loans |
28 | |||
|
SECTION 2.03. Required Payments; Termination |
30 | |||
|
SECTION 2.04. Types of Advances |
30 | |||
|
SECTION 2.05. Commitment Fee; Reductions of Commitments |
30 | |||
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SECTION 2.06. Minimum Amount of Each Advance |
30 | |||
|
SECTION 2.07. Optional Principal Payments |
30 | |||
|
SECTION 2.08. Method of Selecting Types and Interest Periods for New Advances |
31 | |||
|
SECTION 2.09. Conversion and Continuation of Outstanding Advances |
32 | |||
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SECTION 2.10. Changes in Interest Rate, etc |
32 | |||
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SECTION 2.11. Rates Applicable After Default |
32 | |||
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SECTION 2.12. Method of Payment |
33 | |||
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SECTION 2.13. Noteless Agreement; Evidence of Indebtedness |
33 | |||
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SECTION 2.14. Telephonic Notices |
34 | |||
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SECTION 2.15. Interest Payment Dates; Interest and Fee Basis |
34 | |||
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SECTION 2.16. Notification of Advances, Interest Rates, Prepayments and Commitment Reductions |
35 | |||
|
SECTION 2.17. Lending Installations |
35 | |||
|
SECTION 2.18. Non-Receipt of Funds by the Administrative Agent |
35 | |||
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SECTION 2.19. Facility LCs |
36 | |||
|
SECTION 2.20. Increase in Aggregate Commitment |
42 | |||
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SECTION 2.21. Extension of Facility Termination Date |
43 | |||
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SECTION 2.22. Replacement of Certain Lenders |
44 | |||
|
ARTICLE III CHANGE IN CIRCUMSTANCES |
45 | |||
|
SECTION 3.01. Yield Protection |
45 | |||
|
SECTION 3.02. Changes in Capital Adequacy Regulations |
46 | |||
|
SECTION 3.03. Availability of Types of Advances |
47 | |||
|
SECTION 3.04. Funding Indemnification |
47 | |||
|
SECTION 3.05. Taxes |
47 | |||
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SECTION 3.06. Lender Statements; Survival of Indemnity |
50 | |||
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ARTICLE IV CONDITIONS PRECEDENT |
50 | |||
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SECTION 4.01. Conditions to Initial Credit Extension |
50 | |||
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SECTION 4.02. Conditions Precedent to All Credit Extensions |
52 | |||
i
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ARTICLE V REPRESENTATIONS AND WARRANTIES |
53 | |||
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SECTION 5.01. Organization, Powers, etc |
53 | |||
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SECTION 5.02. Authorization and Validity |
53 | |||
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SECTION 5.03. Financial Statements |
55 | |||
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SECTION 5.04. No Material Adverse Effect |
55 | |||
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SECTION 5.05. Title to Property |
55 | |||
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SECTION 5.06. Litigation |
56 | |||
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SECTION 5.07. Taxes |
56 | |||
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SECTION 5.08. Agreements |
56 | |||
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SECTION 5.09. Regulation U |
57 | |||
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SECTION 5.10. Use of Proceeds |
57 | |||
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SECTION 5.11. Consents, etc |
57 | |||
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SECTION 5.12. Compliance with Applicable Laws |
57 | |||
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SECTION 5.13. Subsidiaries; Joint Ventures |
58 | |||
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SECTION 5.14. Mortgage Banking Pledge Agreement |
58 | |||
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SECTION 5.15. ERISA |
58 | |||
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SECTION 5.16. Environmental Matters |
58 | |||
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SECTION 5.17. Investment Company Act |
59 | |||
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SECTION 5.18. Public Utility Holding Company Act |
59 | |||
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SECTION 5.19. Subordinated Debt |
59 | |||
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SECTION 5.20. Insurance |
59 | |||
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End of Preview |
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