|
|
|
|
Document Preview Letter of Credit Facility Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Letter of Credit Facility Agreement |
|||
|
Entities: |
McDermott International Inc.; Morgan Stanley & Co. Inc.; Morgan Stanley Senior Funding Inc.; Bank of New York; Baker Botts; Gardere Wynne Sewell, LLP |
|||
|
Date: |
2004 |
|||
|
Size: |
Preview shows 6KB of 458KB total |
|||
|
Price: |
$99 |
|||
|
ID: |
#580027 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
LETTER OF CREDIT FACILITY AGREEMENT
Dated as of August 25, 2004
Among
J. RAY McDERMOTT, S.A.
and Certain Subsidiaries of the Company
as Credit Parties,
THE LENDERS DESCRIBED HEREIN
as LC Participants,
CALYON NEW YORK BRANCH
as LC Issuer, Administrative Agent, Collateral Agent and Deposit Bank,
and
MORGAN STANLEY & CO. INC.
as Lead Arranger and Sole Book Runner
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
{S} {C}
ARTICLE I DEFINITIONS AND ACCOUNTING TERMS...................................................................... 1
Section 1.1 Certain Defined Terms............................................................ 1
Section 1.2 Computation of Time Periods...................................................... 29
Section 1.3 Accounting Terms................................................................. 29
Section 1.4 Types of LC Advances............................................................. 29
Section 1.5 Miscellaneous.................................................................... 30
ARTICLE II THE CREDITS.......................................................................................... 30
Section 2.1 Letters of Credit................................................................ 30
Section 2.2 LC Deposit....................................................................... 33
Section 2.3 LC Advances...................................................................... 34
Section 2.4 Fees............................................................................. 37
Section 2.5 Repayment of LC Advances; Cash Collateral........................................ 38
Section 2.6 Repayment........................................................................ 40
Section 2.7 Interest......................................................................... 40
Section 2.8 Commitment Reductions............................................................ 41
Section 2.9 Increased Costs.................................................................. 44
Section 2.10 Payments and Computations........................................................ 45
Section 2.11 Taxes............................................................................ 46
Section 2.12 Assignment of LC Advances and Commitments Under Certain Circumstances............ 48
Section 2.13 Sharing of Payments, etc......................................................... 48
Section 2.14 Applicable Lending Offices....................................................... 49
ARTICLE III CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT............................................. 49
Section 3.1 Initial Conditions Precedent..................................................... 49
Section 3.2 Conditions Precedent to Each Issuance Event...................................... 52
ARTICLE IV REPRESENTATIONS AND WARRANTIES....................................................................... 53
Section 4.1 Existence; Subsidiaries.......................................................... 53
Section 4.2 Power and Authority.............................................................. 53
Section 4.3 Authorization and Approvals...................................................... 53
Section 4.4 Enforceable Obligations.......................................................... 53
{/TABLE}
-i-
{PAGE}
TABLE OF CONTENTS
(Continued)
{TABLE}
{CAPTION}
PAGE
{S} {C}
Section 4.5 Financial Statements............................................................. 54
Section 4.6 True and Complete Disclosure..................................................... 54
Section 4.7 Litigation....................................................................... 54
|
End of Preview |
Home Intelligence Services Subscriptions News About Us