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Title: |
Collateral Agreement |
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Entities: |
Chase Manhattan Bank; Citibank, NA; Citicorp USA, Inc.; Goodyear Tire & Rubber Co.; JPMorgan Chase Bank; Royal Bank of Canada; Wells Fargo Bank, NA; Bank of America, NA |
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Date: |
2004 |
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Size: |
Preview shows 13KB of 184KB total |
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Price: |
$53 |
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ID: |
#385202 |
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COLLATERAL AGREEMENT
dated as of
March 12, 2004,
among
THE GOODYEAR TIRE & RUBBER COMPANY,
THE SUBSIDIARIES OF THE GOODYEAR TIRE & RUBBER COMPANY
identified as Grantors herein
and
Wilmington Trust Company,
as Collateral Agent
===============================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{S} {C}
ARTICLE I Definitions 1
SECTION 1.01. Certain Defined Terms............................................................. 1
ARTICLE II Intercreditor Agreement 11
SECTION 2.01. Intercreditor Agreement........................................................... 11
ARTICLE III Pledge of Securities 11
SECTION 3.01. Pledge............................................................................ 11
SECTION 3.02. Voting Rights; Dividends and Interest............................................. 11
ARTICLE IV Security Interests in Personal Property 13
SECTION 4.01. Creation of Security Interests.................................................... 13
SECTION 4.02. Certain Filings................................................................... 13
SECTION 4.03. Representations and Warranties.................................................... 13
SECTION 4.04. Covenants......................................................................... 14
SECTION 4.05. Other Actions..................................................................... 16
SECTION 4.06. Covenants Regarding Patent, Trademark and Copyright Collateral.................... 17
SECTION 4.07. Lockbox System.................................................................... 19
SECTION 4.08. Insurance......................................................................... 20
SECTION 4.09. Liens............................................................................. 20
ARTICLE V Other Pledges, Mortgage and Other Security Interests 20
SECTION 5.01. Summary of Certain Other Security Documents....................................... 20
SECTION 5.02. Other Security Documents Subject to this Agreement................................ 20
ARTICLE VI Remedies 21
SECTION 6.01. Remedies Upon Default............................................................. 21
SECTION 6.02. Exercise of Remedies under Other Security Documents............................... 22
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
SECTION 6.03. Application of Proceeds........................................................... 23
SECTION 6.04. Grant of License to Use Intellectual Property..................................... 23
SECTION 6.05. Securities Act.................................................................... 24
SECTION 6.06. Registration...................................................................... 24
ARTICLE VII Indemnity, Subrogation and Subordination 25
SECTION 7.01. Indemnity and Subrogation......................................................... 25
SECTION 7.02. Contribution and Subrogation...................................................... 25
SECTION 7.03. Subordination..................................................................... 25
ARTICLE VIII Acts of Secured Parties; Amounts of Obligations 26
SECTION 8.01. Acts of Secured Parties........................................................... 26
SECTION 8.02. Determination of Amounts of Obligations and Existence of Events of
Default; Acceleration............................................................. 26
ARTICLE IX Duties of Collateral Agent 27
SECTION 9.01. Notices to Trustee and Representatives............................................ 27
SECTION 9.02. Actions Under this Agreement...................................................... 27
ARTICLE X Concerning the Collateral Agent 27
SECTION 10.01. Limitations on Responsibility of Collateral Agent................................. 27
SECTION 10.02. Reliance by Collateral Agent; Indemnity Against Liabilities, etc.................. 28
SECTION 10.03. Appointment, Resignation and Removal of the Collateral Agent...................... 30
SECTION 10.04. Expenses and Indemnification...................................................... 30
ARTICLE XI Designated Pari Passu Obligations 31
SECTION 11.01. Designation....................................................................... 31
ARTICLE XII Subordination of Intercompany Indebtedness 32
SECTION 12.01. Subordination..................................................................... 32
SECTION 12.02. Dissolution or Insolvency......................................................... 32
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
SECTION 12.03. Subrogation....................................................................... 32
SECTION 12.04. Other Creditors................................................................... 32
SECTION 12.05. No Waiver......................................................................... 33
SECTION 12.06. Obligations Hereunder Not Affected................................................ 33
ARTICLE XIII Miscellaneous 34
SECTION 13.01. Notices........................................................................... 34
SECTION 13.02. Waivers; Amendment................................................................ 34
SECTION 13.03. Collateral Agent's Fees and Expenses; Indemnification............................. 34
SECTION 13.04. Successors and Assigns............................................................ 35
SECTION 13.05. Survival of Agreement............................................................. 35
SECTION 13.06. Counterparts; Effectiveness; Several Agreement.................................... 35
SECTION 13.07. Severability...................................................................... 36
SECTION 13.08. Governing Law; Jurisdiction; Consent to Service of Process........................ 36
SECTION 13.09. WAIVER OF JURY TRIAL.............................................................. 36
SECTION 13.10. Headings.......................................................................... 37
SECTION 13.11. Security Interest Absolute........................................................ 37
SECTION 13.12. Termination or Release............................................................ 37
SECTION 13.13. Additional Grantors............................................................... 37
SECTION 13.14. Collateral Agent Appointed Attorney-in-Fact....................................... 37
SECTION 13.15. Secured Party Obligations......................................................... 38
{/TABLE}
iii
{PAGE}
Schedules
Schedule I Aircraft
Schedule II Control Agreements
Schedule III Foreign Pledge Agreements
Schedule IV Material Intellectual Property
Schedule V County Lien Searches
Exhibits
Exhibit I Form of Accession Agreement
Exhibit II Form of Perfection Certificate
iv
{PAGE}
COLLATERAL AGREEMENT dated as of March 12,
2004, among THE GOODYEAR TIRE & RUBBER COMPANY (the
"Company"), the Subsidiaries of the Company
identified herein and WILMINGTON TRUST COMPANY, as
Collateral Agent.
Reference is made to the Indenture and the Intercreditor
Agreement (such terms, and each other capitalized term used and not otherwise
defined herein, having the meaning assigned to it in Article I). Wells Fargo
Bank, N.A., as trustee (the "Trustee") has agreed to enter into the Indenture
and the Investors and Noteholders have agreed to purchase the Notes on the terms
and subject to the conditions set forth in the Indenture. The obligations of the
Investors to purchase the Notes are conditioned upon, among other things, the
execution and delivery of this Agreement by the Company and the other Grantors.
The Grantors, other than the Company, are subsidiaries of the Company, will
derive substantial benefits from the extension of credit to the Company pursuant
to the Indenture and are willing to execute and deliver this Agreement in order
to induce the Investors and the Noteholders to purchase the Notes issued under
the Indenture. Accordingly, the parties hereto agree as follows:
ARTICLE I
Definitions
SECTION 1.01. Certain Defined Terms. (a) All terms defined in
the New York UCC (as defined herein) and not defined in this Agreement have the
meanings specified therein; the term "instrument" shall have the meaning
specified in Article 9 of the New York UCC.
(b) All terms defined in the Indenture and not defined in this
Agreement have the meanings specified therein. All terms defined in the
Intercreditor Agreement not defined in this Agreement or the Indenture have the
meanings specified therein. The rules of construction specified in Section 1.04
of the Indenture shall also apply to this Agreement.
(c) As used in this Agreement, the following terms have the
meanings specified below:
"ABL Facilities Agreement" means the Term Loan and Revolving
Credit Agreement dated as of March 31, 2003, as amended on February 19, 2004,
among the Company, certain lenders, JPMorgan Chase Bank, as administrative
agent, Citicorp USA Inc., as syndication agent, and Bank of America, N.A. and
The CIT Group/Business Credit, Inc., as documentation agents.
"Accession Agreement" means an accession agreement
substantially in the form of Exhibit I under which a Representative of the
holders of Designated Pari Passu Obligations shall become a party hereto and
appoint the Collateral Agent as collateral agent for such Representative on
behalf of the holders of such Designated Pari Passu Obligations.
"Account Debtor" means any Person who is or who may become
obligated to any Current Assets Grantor under, with respect to or on account of
an Account.
"Act" has the meaning assigned to such term in Section 8.01.
"Additional Subsidiary Agreement" has the meaning assigned to
such term in Section 13.14.
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