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Title: |
Credit Agreement |
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Entities: |
Offshore Logistics, Inc.; Royal Bank of Canada; Thacher Proffitt & Wood |
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Date: |
2005 |
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Size: |
Preview shows 36KB of 205KB total |
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Price: |
$51 |
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ID: |
#573448 |
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Start of Preview |
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FORTIS CAPITAL CORP.,
AS AGENT FOR THE LENDERS
FORTIS CAPITAL CORP.,
AS ARRANGER AND BOOK RUNNER
SECUNDA INTERNATIONAL LIMITED
AS BORROWER
THE LENDERS FROM TIME TO TIME A PARTY HERETO
and
THE SUBSIDIARY GUARANTORS NAMED HEREIN
CREDIT AGREEMENT
Dated as of August 26, 2004
THACHER PROFFITT & WOOD
TABLE OF CONTENTS
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ARTICLE I DEFINITIONS |
1 | |||
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Section 1.01 |
Definitions | 1 | ||
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Section 1.02 |
Interpretation | 1 | ||
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Section 1.03 |
Accounting Terms | 1 | ||
| ARTICLE II REVOLVING LOANS | 2 | |||
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Section 2.01 |
Revolving Loans | 2 | ||
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Section 2.02 |
Interest on the Revolving Loans | 3 | ||
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Section 2.03 |
Maximum Interest Rate | 4 | ||
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Section 2.04 |
Repayment of Revolving Loans | 4 | ||
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Section 2.05 |
Reserved | 4 | ||
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Section 2.06 |
Application of Payments | 4 | ||
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Section 2.07 |
Manner of Payments | 5 | ||
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Section 2.08 |
Register of Revolving Loan Notes; Lost and Mutilated Revolving Loan Notes | 5 | ||
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Section 2.09 |
Change in Circumstances | 7 | ||
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Section 2.10 |
Illegality | 8 | ||
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Section 2.11 |
Taxes | 8 | ||
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Section 2.12 |
Break Funding Payments | 10 | ||
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Section 2.13 |
Alternate Rate of Interest | 10 | ||
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Section 2.14 |
Fees | 10 | ||
| ARTICLE III LETTERS OF CREDIT | 11 | |||
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Section 3.01 |
Issuing the Letters of Credit | 11 | ||
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Section 3.02 |
Drawings under Letters of Credit | 11 | ||
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Section 3.03 |
Reimbursement on Demand | 11 | ||
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Section 3.04 |
Obligations Absolute | 12 | ||
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Section 3.05 |
Action in Respect of the Letters of Credit | 12 | ||
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Section 3.06 |
Indemnification | 13 | ||
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Section 3.07 |
Deemed Disbursements. | 13 | ||
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Section 3.08 |
L/C Participations | 14 | ||
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Section 3.09 |
Lenders Not Required to Make Revolving Loans or Issue Letters of Credit | 15 | ||
| ARTICLE IV REPRESENTATIONS, WARRANTIES AND AGREEMENTS | 15 | |||
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Section 4.01 |
Company Status | 15 | ||
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Section 4.02 |
Company Power and Authority | 15 | ||
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Section 4.03 |
No Violation | 15 | ||
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Section 4.04 |
Governmental Approvals | 16 | ||
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Section 4.05 |
Financial Statement; Financial Condition; Undisclosed Liabilities; etc | 16 | ||
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Section 4.06 |
Litigation | 16 | ||
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Section 4.07 |
No Default | 16 | ||
-i-
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Section 4.08 |
Use of Proceeds; Margin Regulations | 17 | ||
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Section 4.09 |
Tax Returns and Payments | 17 | ||
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Section 4.10 |
Compliance with Pension Laws | 17 | ||
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Section 4.11 |
Ownership; Subsidiaries | 17 | ||
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Section 4.12 |
Compliance with Statutes, etc | 17 | ||
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Section 4.13 |
Investment Company Act | 17 | ||
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Section 4.14 |
Environmental Matters | 18 | ||
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Section 4.15 |
Labor Relations | 18 | ||
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Section 4.16 |
Patents, Licenses, Franchises and Formulas | 19 | ||
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Section 4.17 |
Security Interests | 19 | ||
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Section 4.18 |
Indebtedness | 19 | ||
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Section 4.19 |
Concerning the Vessels | 19 | ||
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Section 4.20 |
Citizenship | 19 | ||
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Section 4.21 |
Vessel Classification | 20 | ||
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Section 4.22 |
Insurance | 20 | ||
| ARTICLE V CONDITIONS OF LENDING | 20 | |||
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Section 5.01 |
Conditions Precedent to Drawdown of the Initial Revolving Loan | 20 | ||
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Section 5.02 |
Further Conditions Precedent | 23 | ||
| ARTICLE VI AFFIRMATIVE COVENANTS | 23 | |||
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Section 6.01 |
Existence | 23 | ||
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Section 6.02 |
Payment of Debts | 23 | ||
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Section 6.03 |
Accounts and Records | 23 | ||
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Section 6.04 |
Payment of Taxes and Claims | 23 | ||
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Section 6.05 |
Financing Statements | 24 | ||
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Section 6.06 |
Compliance with Law | 24 | ||
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Section 6.07 |
Financial Statements | 24 | ||
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Section 6.08 |
Access to Books and Records | 25 | ||
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Section 6.09 |
Notifications | 25 | ||
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Section 6.10 |
Reserved | 25 | ||
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Section 6.11 |
Environmental Matters | 25 | ||
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Section 6.12 |
Transaction Document Obligations | 26 | ||
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Section 6.13 |
Reserved | 26 | ||
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Section 6.14 |
Minimum EBITDA | 26 | ||
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Section 6.15 |
Minimum Current Ratio | 27 | ||
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Section 6.16 |
Maximum Funded Senior Debt Ratio | 27 | ||
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Section 6.17 |
Minimum Fair Market Value of the Designated Vessels; Age of Designated Vessels; Substitution of Vessels | 27 | ||
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Section 6.18 |
Ownership of Subsidiary Guarantors | 28 | ||
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Section 6.19 |
Reimbursement for Expenses | |||
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End of Preview |
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