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Title:

Credit Agreement

Entities:

First Union National Bank; SG Cowen Securities Corp.; Watson Pharmaceuticals Inc.; Bank of New York; Cooley Godward LLP

Date:

2000

Size:

Preview shows 5KB of 323KB total

Price:

$56

ID:

#328831

 

 

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                                CREDIT AGREEMENT


Dated as of July 5, 2000




among




WATSON PHARMACEUTICALS, INC.,

as Borrower,




THE FINANCIAL INSTITUTIONS FROM TIME TO TIME PARTIES HERETO

as Lenders,




SG COWEN SECURITIES CORPORATION,

as Arranger and Book Runner,




and




SOCIETE GENERALE,

as Administrative Agent and Syndication Agent



{PAGE} 2
TABLE OF CONTENTS


{TABLE}
{CAPTION}
Page
----
{S} {C} {C}
CREDIT AGREEMENT .....................................................................................................1

ARTICLE I DEFINITIONS ...........................................................................................5
1.01. Certain Defined Terms....................................................................5
1.02. Computation of Time Periods.............................................................25
1.03. Accounting Terms........................................................................25
1.04. Other Terms.............................................................................25

ARTICLE II AMOUNTS AND TERMS OF LOANS............................................................................25
2.01. Revolving Loan Facility.................................................................25
2.02. Term Loan Facility......................................................................27
2.03. Swing Loans.............................................................................28
2.04. Letters of Credit.......................................................................29
2.05. Promise to Pay; Evidence of Debt........................................................34
2.06. Use of Proceeds of Loans................................................................34
2.07. Authorized Officers, Employees and Administrative Agents................................35

ARTICLE III PAYMENTS AND PREPAYMENTS..............................................................................35
3.01. Prepayments; Reductions in Revolving Loan Commitments...................................35
3.02. Payments................................................................................37
3.03. Taxes...................................................................................38
3.04. Increased Capital.......................................................................40

ARTICLE IV INTEREST AND FEES ....................................................................................40
4.01. Interest on the Loans and other Obligations.............................................40
4.02. Special Provisions Governing Eurodollar Rate Loans......................................43
4.03. Fees....................................................................................45

ARTICLE V CONDITIONS TO LOANS ..................................................................................46
5.01. Conditions Precedent to the Initial Loans...............................................46
5.02. Conditions Precedent to All Loans.......................................................47

ARTICLE VI REPRESENTATIONS AND WARRANTIES........................................................................48
6.01. Representations and Warranties of the Borrower..........................................48

ARTICLE VII REPORTING COVENANTS ..................................................................................53
7.01. Financial Statements....................................................................53

 

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