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Credit and Guarantee Agreement

 

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Title:

Credit and Guarantee Agreement

Entities:

Bank One, NA; Chase Manhattan Bank; Chase Securities Inc.; Citibank, NA; Comerica Bank; Commerce Bank, NA; Commerzbank AG; First National Bank of Chicago; Fleet National Bank; Royal Bank of Canada; Wachovia Bank, NA; Wells Fargo Bank, NA; Bank of America, NA; Bank of New York; Bryan Cave

Date:

2000

Size:

Preview shows 6KB of 273KB total

Price:

$79

ID:

#854309

 

 

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                                                                  CONFORMED COPY

================================================================================



CREDIT AND GUARANTEE AGREEMENT

dated as of

November 1, 1999

among

BLOCK FINANCIAL CORPORATION,
as Borrower,

H&R BLOCK, INC.,
as Guarantor,

The Lenders Party Hereto,

MELLON BANK, N.A.
as Syndication Agent,

FLEET NATIONAL BANK and BANK ONE, NA
as Co-Documentation Agents

and

THE CHASE MANHATTAN BANK,
as Administrative Agent


$1,890,000,000 364-DAY REVOLVING CREDIT FACILITY


CHASE SECURITIES INC.,
as Lead Arranger and Sole Book Manager

================================================================================




<PAGE> 2



TABLE OF CONTENTS

<TABLE>
<CAPTION>

Page

<S> <C>
ARTICLE I DEFINITIONS......................................................................1

SECTION 1.1 Defined Terms.......................................................1
SECTION 1.2 Terms Generally....................................................15
SECTION 1.3 Classification of Loans and Borrowings.............................15
SECTION 1.4 Accounting Terms; GAAP.............................................15

ARTICLE II THE CREDITS....................................................................16

SECTION 2.1 Commitments........................................................16
SECTION 2.2 Loans and Borrowings...............................................16
SECTION 2.3 Requests for Revolving Borrowings..................................16
SECTION 2.4 Funding of Borrowings..............................................17
SECTION 2.5 Interest Elections.................................................18
SECTION 2.6 Termination and Reduction of Commitments...........................19
SECTION 2.7 Repayment of Loans, Evidence of Debt...............................20
SECTION 2.8 Prepayment of Loans................................................20
SECTION 2.9 Fees...............................................................21
SECTION 2.10 Interest...........................................................22
SECTION 2.11 Alternate Rate of Interest.........................................23
SECTION 2.12 Increased Costs....................................................23
SECTION 2.13 Break Funding Payments.............................................24
SECTION 2.14 Taxes..............................................................25
SECTION 2.15 Payments Generally; Pro Rata Treatment; Sharing of Set-offs........26
SECTION 2.16 Mitigation Obligations; Replacement of Lenders.....................27
SECTION 2.17 Extension of Maturity Date.........................................28

ARTICLE III REPRESENTATIONS AND WARRANTIES................................................29

SECTION 3.1 Organization; Powers...............................................29
SECTION 3.2 Authorization; Enforceability......................................29
SECTION 3.3 Governmental Approvals; No Conflicts...............................29
SECTION 3.4. Financial Condition; No Material Adverse Change....................30
SECTION 3.5. Properties.........................................................31
SECTION 3.6. Litigation and Environmental Matters...............................31
SECTION 3.7. Compliance with Laws and Agreements................................32
SECTION 3.8. Investment and Holding Company Status..............................32
SECTION 3.9. Taxes..............................................................32
SECTION 3.10 ERISA..............................................................32
SECTION 3.11. Disclosure.........................................................32
SECTION 3.12. No Default.........................................................33
SECTION 3.13. Federal Regulations................................................33
SECTION 3.14. Subsidiaries.......................................................33
SECTION 3.15. Solvency...........................................................33

 

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