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Participation Agreement

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Title:

Participation Agreement

Entities:

KeyCorp

Date:

2008

Size:

Preview shows 39KB of 195KB total

Price:

$45

ID:

#3273739

► Compensation ► Participation Agreements
► Financial ► Regional Banks

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PARTICIPATION AGREEMENT

DATED AS OF APRIL 23, 2002

AMONG

CITRIX SYSTEMS, INC.,

AS LESSEE,

CITRIX CAPITAL CORP., AS GUARANTOR,

SELCO SERVICE CORPORATION,

AS LESSOR,

KEY CORPORATE CAPITAL INC.

AS LENDER,

AND

KEY CORPORATE CAPITAL INC.,

AS COLLATERAL AGENT AND ADMINISTRATIVE AGENT

LEASE FINANCING OF CORPORATE HEADQUARTERS FACILITY LOCATED

IN FT. LAUDERDALE, FLORIDA AND OTHER PROPERTIES FROM TIME TO TIME

TABLE OF CONTENTS


		Page
ARTICLE I DEFINITIONS; INTERPRETATION		2

Section 1.1. Definitions; Interpretation		2

ARTICLE II DOCUMENTATION DATE		2

Section 2.1. Documentation Date		2

ARTICLE III FUNDING OF ADVANCES		4

Section 3.1. Advances		4
Section 3.2. Lessor?s Commitments		4
Section 3.3. Lender? Commitments		4
Section 3.4. Procedures for the Advances		5
Section 3.5. Currency of Advances and Payments		5

ARTICLE IV YIELD; INTEREST; FEES		5

Section 4.1. Calculation of Basic Rent		5
Section 4.2. Interest on the Loans		5
Section 4.3. Yield		6
Section 4.4. Computation of Interest and Yield; Duration of Interest Periods		6
Section 4.5. Reductions in Commitments and Prepayments		7
Section 4.6. Fees		7
Section 4.7. Place and Manner of Payments		8

ARTICLE V CERTAIN INTENTIONS OF THE PARTIES		8

Section 5.1. Intent		8
Section 5.2. Amounts Due Under the Lease		8

ARTICLE VI CONDITIONS TO CLOSING DATES		9

Section 6.1. Closing Date		9

ARTICLE VII DISTRIBUTIONS		12

Section 7.1. Basic Rent		12
Section 7.2. Purchase Payments by the Lessee		12
Section 7.3. Payment of Maximum Recourse Amount		13
Section 7.4. Sales Proceeds of Remarketing of Properties		13
Section 7.5. Distribution of Payments After an Event of Default		13
Section 7.6. Casualty and Condemnation Amounts		14
Section 7.7. Supplemental Rent		14
Section 7.8. Other Payments		15
Section 7.9. Order of Application		15
Section 7.10. Payments to Payment Account		15
Section 7.11. Other Payments or Prepayments		15
Section 7.12. Sharing of Payments		15

TABLE OF CONTENTS

(CONTINUED)



ARTICLE VIII REPRESENTATIONS		16

Section 8.1. Representations of the Obligors		16
Section 8.2. Representations of the Participants		20

ARTICLE IX PAYMENT OF CERTAIN EXPENSES		21

Section 9.1. Payment of Costs and Expenses		21
Section 9.2. Brokers? Fees and Stamp Taxes		22

ARTICLE X LESSEE COVENANTS		22

Section 10.1. Covenants of Lessee		22

ARTICLE XI LESSEE DIRECTIONS; CERTAIN RIGHTS OF LESSEE		24

Section 11.1. Lessee Directions		24
Section 11.2. Extension of Maturity Date and Expiration Date		24

ARTICLE XII TRANSFERS OF PARTICIPANTS? INTERESTS		25

Section 12.1. Assignments by Participants		25
Section 12.2. Participations		26
Section 12.3. Pledge Under Regulation A		26
Section 12.4. Acknowledgment of Assignment of Lease and Rent		27

ARTICLE XIII INDEMNIFICATION		27

Section 13.1. Indemnification		27
Section 13.2. Nonconformance Payment		29
Section 13.3. Environmental Indemnity		30
Section 13.4. Proceedings in Respect of Claims		31
Section 13.5. General Tax Indemnity		32
Section 13.6. Indemnity Payments in Addition to Lease Obligations		37
Section 13.7. Increased Costs, etc		37
Section 13.8. Funding Losses		39
Section 13.9. Capital Adequacy		39

ARTICLE XIV CERTAIN COVENANTS AND AGREEMENTS		41

Section 14.1. Collateral		41
Section 14.2. Certain Events of Default		41
Section 14.3. Accounting Change		41

ARTICLE XV THE ADMINISTRATIVE AGENT		41

Section 15.1. Appointment		41
Section 15.2. Delegation of Duties		42
Section 15.3. Exculpatory Provisions		42
Section 15.4. Reliance by Administrative Agent		42
Section 15.5. Notice of Default		43
Section 15.6. Non-Reliance on Administrative Agent and Other Participants		43
Section 15.7. Administrative Agent in Its Individual Capacity		44
Section 15.8. Successor Administrative Agent		44

TABLE OF CONTENTS

(CONTINUED)



ARTICLE XVI MISCELLANEOUS		44

Section 16.1. Survival of Agreements		44
Section 16.2. No Broker, etc		45
Section 16.3. Notices		45
Section 16.4. Counterparts		45
Section 16.5. Amendments; Termination; Supplement; Waiver		45
Section 16.6. Headings, etc		47
Section 16.7. Parties in Interest		47
Section 16.8. GOVERNING LAW		47
Section 16.9. Severability		47
Section 16.10.Liability Limited		47
Section 16.11.Further Assurances		48
Section 16.12.SUBMISSION TO JURISDICTION		48
Section 16.13.Setoff		48
Section 16.14.WAIVER OF JURY TRIAL		49
Section 16.15.Termination		49
Section 16.16.Confidentiality Concerning Lessee?s and Guarantor?s Proprietary Information		49
Section 16.17.Proprietary Information		50

SCHEDULES

SCHEDULE I Commitments

SCHEDULE II Notice Information, Wire Instructions, and Funding Offices

SCHEDULE III Litigation

SCHEDULE IV Existing Leases

EXHIBITS

EXHIBIT A Form of Funding Request

EXHIBIT B Basis for Calculation of Minimum Net Cash Covenant

iii

PARTICIPATION AGREEMENT

THIS PARTICIPATION AGREEMENT (this ?PARTICIPATION AGREEMENT?), dated as of April 23, 2002, is entered into by and among CITRIX SYSTEMS, INC., Delaware corporation (the ?COMPANY?), as the Lessee (in such capacity, the ?LESSEE?), CITRIX CAPITAL CORP., a Nevada corporation, as Guarantor, (the ?GUARANTOR?), SELCO SERVICE CORPORATION, an Ohio corporation, as the Lessor (the ?LESSOR?), and KEY CORPORATE CAPITAL INC. a Michigan corporation, as Lender (the ?LENDER?), as administrative agent for the Participants (together with its permitted successors and assigns in such capacity, the ?ADMINISTRATIVE AGENT?), and as collateral agent (the ?COLLATERAL AGENT?).

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