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Document Preview Collateral Trust Agreement |
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Title: |
Collateral Trust Agreement |
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Entities: |
Banc of America Securities LLC; Chase Manhattan Bank; McGraw-Hill Companies Inc.; PacifiCare Health Systems Inc.; Bank of America, NA |
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Date: |
2001 |
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Size: |
Preview shows 9KB of 113KB total |
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Price: |
$37 |
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ID: |
#421973 |
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dated as of August 20, 2001
among
PACIFICARE HEALTH PLAN ADMINISTRATORS, INC.,
as Grantor
and
WILMINGTON TRUST COMPANY
as Corporate Trustee
and
DAVID A. VANASKEY
as Individual Trustee
{PAGE} 2
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
{TABLE}
{S} {C}
SECTION 1.01. Certain Defined Terms ..................................... 2
SECTION 1.02. Certain References ........................................ 5
ARTICLE II
CONFIRMATION AND CREATION OF SECURITY INTERESTS
SECTION 2.01. Collateral Trust Estate ................................... 5
SECTION 2.02. Security for Secured Obligations .......................... 6
ARTICLE III
COLLATERAL ACCOUNT
SECTION 3.01. Collateral Account ........................................ 6
ARTICLE IV
ACTIONABLE DEFAULTS; REMEDIES
SECTION 4.01. Actionable Default Notice ................................. 7
SECTION 4.02. Direction by Required Representatives ..................... 8
SECTION 4.03. Right to Initiate Judicial Proceedings, Etc. .............. 8
SECTION 4.04. Remedies Not Exclusive .................................... 9
SECTION 4.05. Waiver of Certain Rights .................................. 9
SECTION 4.06. Limitation on Collateral Trustees' Duties
in Respect of Collateral .................................. 9
SECTION 4.07. Limitation by Law ......................................... 10
SECTION 4.08. Absolute Rights of Secured Holders and Representatives .... 10
SECTION 4.09. Equal and Ratable Security ................................ 10
ARTICLE V
APPLICATION OF PROCEEDS
SECTION 5.01. Application of Proceeds ................................... 11
SECTION 5.02. Application of Withheld Amounts ........................... 12
SECTION 5.03. Release of Amounts in Collateral Account .................. 13
SECTION 5.04. Distribution Date ......................................... 13
ARTICLE VI
AGREEMENTS WITH THE COLLATERAL TRUSTEE
{/TABLE}
{PAGE} 3
2
{TABLE}
{S} {C}
SECTION 6.01. Delivery of Agreements .................................... 13
SECTION 6.02. Information as to Representatives ......................... 13
SECTION 6.03. Compensation and Expenses ................................. 14
SECTION 6.04. Stamp and Other Similar Taxes ............................. 14
SECTION 6.05. Filing Fees, Excise Taxes, Etc. ........................... 15
SECTION 6.06. Indemnification ........................................... 15
SECTION 6.07. Further Assurances ........................................ 15
ARTICLE VII
THE COLLATERAL TRUSTEE
SECTION 7.01. Declaration of Trust ...................................... 16
SECTION 7.02. Exculpatory Provisions .................................... 16
SECTION 7.03. Delegation of Duties ...................................... 17
SECTION 7.04. Reliance by Collateral Trustees ........................... 17
SECTION 7.05. Limitations on Duties of the Trustees ..................... 18
SECTION 7.06. Moneys to Be Held in Trust ................................ 18
SECTION 7.07. Resignation and Removal of Collateral Trustees ............ 18
SECTION 7.08. Status of Successors to Trustee ........................... 20
SECTION 7.09. Merger of the Corporate Trustee ........................... 20
SECTION 7.10. Powers of Individual Trustee .............................. 20
SECTION 7.11. Additional Co-Trustees; Separate Trustees ................. 21
SECTION 7.12. Trustees Appointed Attorneys-in-Fact ...................... 22
SECTION 7.13. Ordinary Care ............................................. 22
ARTICLE VIII
RELEASE OF COLLATERAL
SECTION 8.01. Partial Release of Collateral ............................. 23
SECTION 8.02. Full Release of Collateral Upon Satisfaction of
Certain Secured Obligations ............................... 24
SECTION 8.03. Effect of Release of Collateral ........................... 25
ARTICLE IX
MISCELLANEOUS
SECTION 9.01. Amendments, Supplements and Waivers ....................... 25
SECTION 9.02. Additional Actions of Representatives ..................... 26
SECTION 9.03. Notices ................................................... 27
SECTION 9.04. Headings .................................................. 27
SECTION 9.05. Severability .............................................. 27
{/Table}
{PAGE} 4
3
{TABLE}
{S} {C}
SECTION 9.06. Treatment of Payee or Indorsee by Trustees ................ 28
SECTION 9.07. Dealings with the Grantor ................................. 28
SECTION 9.08. Claims Against Trustee .................................... 28
SECTION 9.09. Binding Effect ............................................ 28
SECTION 9.10. Governing Law ............................................. 28
SECTION 9.11. Effectiveness ............................................. 29
SECTION 9.12. Reexecution of Agreement .................................. 29
SECTION 9.13. Effect on Credit Agreements ............................... 29
SECTION 9.14. Counterparts .............................................. 29
{/TABLE}
{PAGE} 5
COLLATERAL TRUST AGREEMENT
COLLATERAL TRUST AGREEMENT, dated as of August 20, 2001 (as amended,
amended and restated, supplemented or otherwise modified from time to time, this
"AGREEMENT") among PacifiCare Health Plan Administrators, Inc., an Indiana
corporation (the "GRANTOR"), WILMINGTON TRUST COMPANY, a Delaware banking
corporation, not in its individual capacity but solely as corporate trustee
(together with any successor corporate trustee appointed pursuant to Article 7,
the "CORPORATE TRUSTEE"), and DAVID A. VANASKEY, an individual residing in the
State of Delaware, not in his individual capacity but solely as individual
trustee (together with any successor individual trustee appointed pursuant to
Article 7, the "INDIVIDUAL TRUSTEE"; and, together with the Corporate Trustee,
the "COLLATERAL TRUSTEES"), the foregoing trustees being trustees for the
Secured Holders (as hereinafter defined). Certain capitalized terms used herein
are defined in Article 1 of this Agreement.
PRELIMINARY STATEMENTS:
(1) PacifiCare Health Systems, Inc., a Delaware corporation (the
"Borrower") has entered into an Amended and Restated Credit Agreement dated as
of August 20, 2001 (as the same may be amended, amended and restated,
supplemented or otherwise modified from time to time, the "CREDIT AGREEMENT";
terms defined therein and not otherwise defined herein shall have the meanings
specified therein) with the banks and other financial institutions party thereto
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