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364-Day Credit Agreement

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Title:

364-Day Credit Agreement

Entities:

Banc of America Securities LLC; First Union National Bank; McCormick & Co. Inc.; McGraw-Hill Companies Inc.; Wachovia Bank, NA; Bank of America, NA; Bank of New York

Date:

2003

Size:

Preview shows 67KB of 298KB total

Price:

$99

ID:

#440399

► Loans ► Credit ► Multi-Year ► 364-Day Credit Agreements
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U.S. 125,000,000

364-DAY CREDIT AGREEMENT

dated as of June 19, 2001

among

McCORMICK & COMPANY, INCORPORATED,

as the Borrower,

CERTAIN FINANCIAL INSTITUTIONS,

as the Lenders,

BANK OF AMERICA, N.A.,
as the Documentation Agent,

SUNTRUST BANK,

as the Syndication Agent

and

WACHOVIA, N.A.

as the Administrative Agent

BANC OF AMERICA SECURITIES LLC

and

SUNTRUST EQUITABLE SECURITIES CORPORATION

Lead Arrangers and Book Managers

TABLE OF CONTENTS

ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS

SECTION 1.1.	Defined Terms
SECTION 1.2.	Use of Defined Terms
SECTION 1.3.	Cross-References
SECTION 1.4.	Accounting and Financial Determinations

ARTICLE II
MAKING THE LOANS

SECTION 2.1.	Revolving Loan Commitments and Borrowing Procedure.
SECTION 2.2.	Reduction of the Commitment Amount
SECTION 2.3.	Competitive Bid Loans
SECTION 2.4.	Continuation and Conversion Elections
SECTION 2.5.	Funding
SECTION 2.6.	Notes
SECTION 2.7.	Multicurrency Loans.
SECTION 2.7.1.	Notification of Request
SECTION 2.7.2.	Availability
SECTION 2.7.3.	Notification of Availability
SECTION 2.7.4.	Consequences of Availability
SECTION 2.7.5.	Unexpected Non-Availability
SECTION 2.7.6.	Consequences of Non-Availability
SECTION 2.8.	Extension of Maturity Date.

ARTICLE III
REPAYMENT, PREPAYMENTS, INTEREST AND FEES

SECTION 3.1.	Repayment.
SECTION 3.2.	Prepayments.
SECTION 3.3.	Interest Provisions
SECTION 3.3.1.	Rates
SECTION 3.3.2.	Post-Maturity Rates
SECTION 3.3.3.	Payment Dates
SECTION 3.3.4.	Interest Rate Determination
SECTION 3.4.	Fees
SECTION 3.4.1.	Facility Fee
SECTION 3.4.2.	Utilization Fee
SECTION 3.4.3.	Agents Fees

ARTICLE IV
CERTAIN LIBO RATE AND OTHER PROVISIONS

SECTION 4.1.	Fixed Rate Lending Unlawful
SECTION 4.2.	Deposits Unavailable
SECTION 4.3.	Increased LIBO Rate Loan Costs, etc

SECTION 4.4.	Funding Losses
SECTION 4.5.	Increased Capital Costs
SECTION 4.6.	Taxes
SECTION 4.7.	Payments, Computations, etc.
SECTION 4.8.	Sharing of Payments
SECTION 4.9.	Setoff
SECTION 4.10.	Use of Proceeds

ARTICLE V
CONDITIONS PRECEDENT

SECTION 5.1.	Conditions Precedent to the Obligations of the Lenders
SECTION 5.1.1.	Resolutions, etc
SECTION 5.1.2.	Officers Certificate
SECTION 5.1.3.	Closing Fees, Expenses, etc
SECTION 5.1.4.	Delivery of Financial Information
SECTION 5.1.5.	Delivery of Notes
SECTION 5.1.6.	Termination of the Existing Credit Agreement
SECTION 5.1.7.	Opinion of Counsel
SECTION 5.2.	Conditions Precedent to Borrowings
SECTION 5.2.1.	Compliance with Warranties, No Default, etc
SECTION 5.2.2.	Borrowing Request
SECTION 5.2.3.	Satisfactory Legal Form

ARTICLE VI
REPRESENTATIONS AND WARRANTIES

SECTION 6.1.	Organization, etc
SECTION 6.2.	Due Authorization, Non-Contravention etc
SECTION 6.3.	Government Approval Regulation, etc
SECTION 6.4.	Validity, etc
SECTION 6.5.	Financial Information
SECTION 6.6.	No Material Adverse Change
SECTION 6.7.	Litigation, Labor Controversies, etc
SECTION 6.8.	Subsidiaries
SECTION 6.9.	Ownership of Properties
SECTION 6.10.	Taxes
SECTION 6.11.	Pension and Welfare Plans
SECTION 6.12.	Environmental Warranties
SECTION 6.13.	Regulations U and X
SECTION 6.14.	Accuracy of Information
SECTION 6.15.	Compliance with Law; Absence of Default

ARTICLE VII
COVENANTS

SECTION 7.1.	Affirmative Covenants

SECTION 7.1.1.	Financial Information Reports, Notices, etc
SECTION 7.1.2.	Compliance with Laws, etc
SECTION 7.1.3.	Maintenance of Properties

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