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Document Preview 364-Day Credit Agreement |
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Title: |
364-Day Credit Agreement |
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Entities: |
ABN AMRO Bank N.V.; Banc of America Securities LLC; Bank One, NA; Chase Manhattan Bank; Citibank, NA; Commerzbank AG; Deutsche Banc Alex. Brown Inc.; International Paper Co.; JPMorgan Chase Bank; McGraw-Hill Companies Inc.; PNC Bank, NA; Salomon Smith Barney Inc.; Bank of America, NA; Bank of New York; Milbank, Tweed, Hadley & McCloy |
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Date: |
2003 |
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Size: |
Preview shows 9KB of 270KB total |
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Price: |
$90 |
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ID: |
#367250 |
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Start of Preview |
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dated as of
March 8, 2002
between
INTERNATIONAL PAPER COMPANY
The LENDERS Party Hereto
BANK OF AMERICA,
as Syndication Agent
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BNP PARIBAS,
DEUTSCHE BANC ALEX. BROWN INC.
and
JPMORGAN CHASE BANK,
as Co-Documentation Agents
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SALOMON SMITH BARNEY INC.
and
BANC OF AMERICA SECURITIES LLC,
as Joint Lead Arrangers and Joint Book Managers
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CITIBANK, N.A.,
as Administrative Agent
$1,500,000,000
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
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 and Determinations.............................16
SECTION 1.05. Currencies; Currency Equivalents................................17
ARTICLE II THE CREDITS...........................................................18
SECTION 2.01. The Commitments; Borrowings by Approved Borrowers...............18
SECTION 2.02. Loans and Borrowings............................................18
SECTION 2.03. Requests for Syndicated Borrowings..............................19
SECTION 2.04. Competitive Bid Procedure.......................................20
SECTION 2.05. Funding of Borrowings...........................................22
SECTION 2.06. Interest Elections..............................................23
SECTION 2.07. Changes of Commitments..........................................25
SECTION 2.08. Repayment of Loans; Evidence of Debt............................27
SECTION 2.09. Prepayment of Loans.............................................28
SECTION 2.10. Fees............................................................30
SECTION 2.11. Interest........................................................30
SECTION 2.12. Alternate Rate of Interest......................................31
SECTION 2.13. Increased Costs.................................................32
SECTION 2.14. Break Funding Payments..........................................33
SECTION 2.15. U.S. Taxes......................................................34
SECTION 2.16. Foreign Taxes...................................................35
SECTION 2.17. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.....36
SECTION 2.18. Mitigation Obligations; Replacement of Lenders..................38
SECTION 2.19. Term-Out Option.................................................39
SECTION 2.20. Extension of Commitment Termination Date........................39
ARTICLE III REPRESENTATIONS AND WARRANTIES.......................................41
SECTION 3.01. Corporate Existence.............................................41
SECTION 3.02. Financial Condition.............................................41
SECTION 3.03. Litigation......................................................41
SECTION 3.04. No Breach.......................................................42
SECTION 3.05. Corporate Action of the Company.................................42
SECTION 3.06. Approvals.......................................................42
SECTION 3.07. Use of Loans....................................................42
SECTION 3.08. ERISA...........................................................42
SECTION 3.09. Taxes...........................................................42
{/TABLE}
-i-
{PAGE}
{TABLE}
{S} {C}
SECTION 3.10. Investment Company Act..........................................43
SECTION 3.11. Public Utility Holding Company Act..............................43
SECTION 3.12. Credit Agreements...............................................43
SECTION 3.13. Hazardous Materials and Environmental Matters...................43
SECTION 3.14. Full Disclosure.................................................44
SECTION 3.15. Existence of Approved Borrowers.................................44
SECTION 3.16. No Breach.......................................................44
SECTION 3.17. Corporate Action................................................44
SECTION 3.18. Approvals.......................................................44
SECTION 3.19. Taxes on Payments of Approved Borrowers.........................45
ARTICLE IV GUARANTEE.............................................................45
SECTION 4.01. Guarantee.......................................................45
SECTION 4.02. Obligations Unconditional.......................................45
SECTION 4.03. Reinstatement...................................................46
SECTION 4.04. Subrogation.....................................................46
SECTION 4.05. Remedies........................................................46
SECTION 4.06. Continuing Guarantee............................................47
ARTICLE V CONDITIONS.............................................................47
SECTION 5.01. Effective Date..................................................47
SECTION 5.02. Initial Loan to any Approved Borrower...........................48
SECTION 5.03. Each Credit Event...............................................49
ARTICLE VI COVENANTS OF THE COMPANY..............................................49
SECTION 6.01. Financial Statements............................................49
SECTION 6.02. Litigation......................................................51
SECTION 6.03. Corporate Existence, Etc........................................51
SECTION 6.04. Insurance.......................................................52
SECTION 6.05. Use of Proceeds.................................................52
SECTION 6.06. Prohibition of Fundamental Changes..............................52
SECTION 6.07. Limitation on Liens.............................................53
SECTION 6.08. Total Debt to Total Capital Ratio...............................55
SECTION 6.09. Minimum Consolidated Net Worth..................................55
ARTICLE VII EVENTS OF DEFAULT....................................................55
ARTICLE VIII THE ADMINISTRATIVE AGENT............................................57
ARTICLE IX MISCELLANEOUS.........................................................60
SECTION 9.01. Notices.........................................................60
{/TABLE}
-ii-
{PAGE}
{TABLE}
{S} {C}
SECTION 9.02. Waivers; Amendments.............................................60
SECTION 9.03. Expenses; Indemnity; Damage Waiver..............................61
SECTION 9.04. Successors and Assigns..........................................62
SECTION 9.05. Survival........................................................65
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