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Document Preview 3-Year Credit Agreement |
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Title: |
3-Year Credit Agreement |
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Entities: |
Citibank, NA; Citigroup Global Markets Inc.; Interpublic Group of Companies, Inc.; JPMorgan Chase Bank; McGraw-Hill Companies Inc.; Royal Bank of Canada; Bank of New York; Keybank NA; Cleary, Gottlieb, Steen & Hamilton; Shearman & Sterling |
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Date: |
2004 |
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Size: |
Preview shows 6KB of 257KB total |
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Price: |
$59 |
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ID: |
#827245 |
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U.S. $450,000,000
3-YEAR CREDIT AGREEMENT
Dated as of May 10, 2004
Among
THE INTERPUBLIC GROUP OF COMPANIES, INC.
as Company
THE INITIAL LENDERS, INITIAL ISSUING BANKS
AND SWING LINE BANK NAMED HEREIN
as Initial Lenders, Initial Issuing Banks and Swing Line Bank
CITIBANK, N.A.
as Administrative Agent
JPMORGAN CHASE BANK
as Syndication Agent
HSBC BANK USA,
LLOYDS TSB BANK PLC
and
UBS AG, STAMFORD BRANCH
as Co-Documentation Agents
and
CITIGROUP GLOBAL MARKETS INC.
as Lead Arranger and Book Manager
{PAGE}
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
SECTION 1.01. Certain Defined Terms.......................................2
SECTION 1.02. Computation of Time Periods................................11
SECTION 1.03. Accounting Terms...........................................11
ARTICLE II
AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT
SECTION 2.01. The Advances...............................................12
SECTION 2.02. Making the Advances........................................13
SECTION 2.03. Issuance of and Drawings and Reimbursement
Under Letters of Credit....................................15
SECTION 2.04. Fees.......................................................16
SECTION 2.05. Optional Termination or Reduction of the
Commitments................................................17
SECTION 2.06. Repayment..................................................17
SECTION 2.07. Interest on Advances.......................................18
SECTION 2.08. Interest Rate Determination................................18
SECTION 2.09. Optional Conversion of Revolving Credit Advances...........19
SECTION 2.10. Prepayments of Advances....................................20
SECTION 2.11. Increased Costs............................................20
SECTION 2.12. Illegality.................................................21
SECTION 2.13. Payments and Computations..................................21
SECTION 2.14. Taxes......................................................22
SECTION 2.15. Sharing of Payments, Etc...................................24
SECTION 2.16. Evidence of Debt...........................................24
SECTION 2.17. Use of Proceeds............................................24
ARTICLE III
CONDITIONS TO EFFECTIVENESS AND LENDING
SECTION 3.01. Conditions Precedent to Effectiveness of
Sections 2.01 and 2.03.....................................25
SECTION 3.02. Initial Advance to Each Designated Subsidiary..............26
SECTION 3.03. Conditions Precedent to Each Borrowing and Issuance........26
SECTION 3.04. Determinations Under Sections 3.01 and 3.02................27
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
SECTION 4.01. Representations and Warranties of the Company..............27
ARTICLE V
COVENANTS OF THE COMPANY
SECTION 5.01. Affirmative Covenants......................................28
SECTION 5.02. Negative Covenants.........................................31
SECTION 5.03. Financial Covenants........................................34
ARTICLE VI
EVENTS OF DEFAULT
SECTION 6.01. Events of Default..........................................34
SECTION 6.02. Actions in Respect of the Letters of Credit upon Default...36
ARTICLE VII
GUARANTY
SECTION 7.01. Guaranty...................................................37
SECTION 7.02. Guaranty Absolute..........................................37
SECTION 7.03. Waivers and Acknowledgments................................38
SECTION 7.04. Subrogation................................................38
SECTION 7.05. Continuing Guaranty; Assignments...........................39
ARTICLE VIII
THE AGENT
SECTION 8.01. Authorization and Action...................................39
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