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Title: |
Credit Agreement |
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Entities: |
Bank One, NA; Citicorp North America, Inc.; Deutsche Bank Securities Inc.; Fleet National Bank; Goldman Sachs Credit Partners LP; J.P. Morgan Securities Inc.; JPMorgan Chase Bank; PNC Bank, NA; ScanSoft, Inc.; UBS Securities LLC; Wells Fargo Bank Minnesota, NA; Xerox Corp.; Bank of New York; Skadden, Arps, Slate, Meagher & Flom LLP |
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Date: |
2003 |
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Size: |
Preview shows 34KB of 364KB total |
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Price: |
$99 |
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ID: |
#817209 |
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Start of Preview |
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CREDIT AGREEMENT
dated as of
June 19, 2003
among
XEROX CORPORATION
and
THE OVERSEAS BORROWERS PARTY HERETO
as Borrowers
and
THE LENDERS PARTY HERETO
and
JPMORGAN CHASE BANK
as Administrative Agent, Collateral Agent and LC Issuing Bank
and
DEUTSCHE BANK SECURITIES INC.
as Syndication Agent
and
CITICORP NORTH AMERICA, INC.
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
UBS SECURITIES LLC
as Co-Documentation Agents
Arranged By
J.P. MORGAN SECURITIES INC. and DEUTSCHE BANK SECURITIES INC.,
as Co-Lead Arrangers and Joint Bookrunners
and
CITICORP NORTH AMERICA, INC.
GOLDMAN SACHS CREDIT PARTNERS L.P.
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
UBS SECURITIES LLC
as Arrangers
TABLE OF CONTENTS
| Page | ||
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ARTICLE 1 |
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DEFINITIONS |
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Section 1.01. Defined Terms |
2 | |
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Section 1.02. Accounting Terms; Changes in GAAP |
45 | |
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Section 1.03. Classification of Loans and Borrowings |
45 | |
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Section 1.04. Terms Generally |
46 | |
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ARTICLE 2 |
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THE CREDITS |
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Section 2.01. Revolving and Term Commitments |
46 | |
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Section 2.02. Revolving and Term Loans |
47 | |
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Section 2.03. Requests to Borrow Revolving or Term Loans |
48 | |
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Section 2.04. Letters of Credit |
49 | |
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Section 2.05. Funding of Revolving and Term Loans |
53 | |
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Section 2.06. Interest Elections |
54 | |
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Section 2.07. Termination or Reduction of Commitments |
56 | |
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Section 2.08. Payment at Maturity; Evidence of Debt |
57 | |
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Section 2.09. Optional Prepayments |
58 | |
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Section 2.10. Fees |
58 | |
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Section 2.11. Interest |
59 | |
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Section 2.12. Alternate Rate of Interest |
60 | |
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Section 2.13. Increased Costs |
61 | |
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Section 2.14. Break Funding Payments |
62 | |
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Section 2.15. Taxes |
63 | |
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Section 2.16. Payments Generally; Pro Rata Treatment; Sharing of Set-offs |
65 | |
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Section 2.17. Lenders Obligation to Mitigate; Replacement of Lenders |
67 | |
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Section 2.18. Designation of Overseas Borrower; Termination of Designations |
68 | |
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Section 2.19. Overseas Borrower Costs |
68 | |
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Section 2.20. Currency Equivalents |
69 | |
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ARTICLE 3 |
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REPRESENTATIONS AND WARRANTIES |
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Section 3.01. Organization; Powers |
70 | |
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Section 3.02. Authorization; Enforceability |
70 | |
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Section 3.03. Governmental Approvals; No Conflicts |
70 | |
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Section 3.04. Financial Statements; No Material Adverse Change |
70 | |
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Section 3.05. Properties |
71 | |
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Section 3.06. Litigation and Environmental Matters |
71 | |
i
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Section 3.07. Compliance with Laws and Agreements |
72 | |
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Section 3.08. Investment and Holding Company Status |
72 | |
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Section 3.09. Taxes |
72 | |
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Section 3.10. ERISA and Pension Plans |
72 | |
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Section 3.11. Disclosure |
73 | |
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Section 3.12. Subsidiaries |
73 | |
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Section 3.13. Labor Matters |
73 | |
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Section 3.14. Representations and Warranties of Future Overseas Borrowers |
74 | |
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ARTICLE 4 |
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CONDITIONS |
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Section 4.01. Effective Date |
74 | |
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Section 4.02. Each Extension of Credit |
77 | |
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Section 4.03. First Borrowing by Certain Overseas Borrowers |
77 | |
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ARTICLE 5 |
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AFFIRMATIVE COVENANTS |
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Section 5.01. Financial Statements and Other Information |
78 | |
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Section 5.02. Notice of Material Events |
81 | |
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Section 5.03. Information Regarding Collateral |
81 | |
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Section 5.04. Existence; Conduct of Business |
82 | |
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Section 5.05. Payment of Obligations |
82 | |
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Section 5.06. Maintenance of Properties |
82 | |
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Section 5.07. Insurance |
83 | |
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Section 5.08. Proper Records; Rights to Inspect and Appraise |
83 | |
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Section 5.09. Compliance with Laws |
83 | |
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Section 5.10. Use of Proceeds and Letters of Credit |
84 | |
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Section 5.11. Additional Subsidiaries |
84 | |
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Section 5.12. Further Assurances |
85 | |
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Section 5.13. Ownership of Overseas Borrowers |
86 | |
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Section 5.14. Limitation on XCC Activities |
86 | |
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ARTICLE 6 |
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NEGATIVE COVENANTS |
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Section 6.01. Liens |
86 | |
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Section 6.02. Fundamental Changes |
88 | |
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Section 6.03. Leverage Ratio |
89 | |
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Section 6.04. Consolidated Net Worth |
89 | |
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Section 6.05. Debt and Preferred Stock |
90 | |
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Section 6.06. Investments and Acquisitions |
92 | |
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Section 6.07. Asset Transfers |
95 | |
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Section 6.08. Hedging Agreements |
95 | |
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Section 6.09. Restricted Payments |
95 | |
ii
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Section 6.10. Transactions with Affiliates |
98 | |
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Section 6.11. Restrictive Agreements |
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End of Preview |
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