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Title: |
Credit Agreement |
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Entities: |
Bank of Ireland; Bank of Nova Scotia; Citicorp North America, Inc.; Commerzbank AG; Constellation Brands Inc.; Fleet National Bank; J.P. Morgan Securities Inc.; JPMorgan Chase Bank; LaSalle Bank, NA; McGraw-Hill Companies Inc.; National City Bank; Raymond James Bank; Wachovia Bank, NA; Wells Fargo Bank, NA; Bank of America, NA; Bank of New York; Clayton Utz; McDermott, Will & Emery; Milbank, Tweed, Hadley & McCloy; Nixon Peabody LLP |
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Date: |
2004 |
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Size: |
Preview shows 50KB of 416KB total |
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Price: |
$99 |
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ID: |
#879966 |
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Start of Preview |
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CREDIT AGREEMENT
dated as of
December 22, 2004
Between
CONSTELLATION BRANDS, INC.,
The SUBSIDIARY GUARANTORS Party Hereto,
The LENDERS Party Hereto
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
as Syndication Agent
J.P. MORGAN SECURITIES INC.,
as Sole Lead Arranger and Bookrunner
and
BANK OF AMERICA, N.A.,
SUNTRUST BANK,
and
THE BANK OF NOVA SCOTIA
as Co-Documentation Agents
U.S.$2,900,000,000
TABLE OF CONTENTS
| Page | ||||
| ARTICLE I | ||||
| DEFINITIONS | ||||
|
SECTION 1.01. |
Defined Terms | 1 | ||
|
SECTION 1.02. |
Classification of Loans and Borrowings | 32 | ||
|
SECTION 1.03. |
Terms Generally | 32 | ||
|
SECTION 1.04. |
Accounting Terms; GAAP | 32 | ||
|
SECTION 1.05. |
Currency Equivalents | 32 | ||
| ARTICLE II | ||||
| THE CREDITS | ||||
|
SECTION 2.01. |
The Commitments | 33 | ||
|
SECTION 2.02. |
Loans and Borrowings. | 35 | ||
|
SECTION 2.03. |
Requests for Borrowings | 36 | ||
|
SECTION 2.04. |
Swingline Loans. | 37 | ||
|
SECTION 2.05. |
Letters of Credit. | 38 | ||
|
SECTION 2.06. |
Funding of Borrowings. | 45 | ||
|
SECTION 2.07. |
Interest Elections. | 45 | ||
|
SECTION 2.08. |
Termination and Reduction of the Commitments. | 47 | ||
|
SECTION 2.09. |
Repayment of Loans; Evidence of Debt. | 48 | ||
|
SECTION 2.10. |
Prepayment of Loans. | 51 | ||
|
SECTION 2.11. |
Fees. | 56 | ||
|
SECTION 2.12. |
Interest. | 58 | ||
|
SECTION 2.13. |
Alternate Rate of Interest | 59 | ||
|
SECTION 2.14. |
Increased Costs. | 59 | ||
|
SECTION 2.15. |
Break Funding Payments | 60 | ||
|
SECTION 2.16. |
Taxes. | 61 | ||
|
SECTION 2.17. |
Payments Generally; Pro Rata Treatment; Sharing of Set-offs. | 63 | ||
|
SECTION 2.18. |
Mitigation Obligations; Replacement of Lenders. | 65 | ||
| ARTICLE III | ||||
| GUARANTEE | ||||
|
SECTION 3.01. |
The Guarantee | 65 | ||
|
SECTION 3.02. |
Obligations Unconditional | 66 | ||
|
SECTION 3.03. |
Reinstatement | 71 | ||
|
SECTION 3.04. |
Subrogation | 71 | ||
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SECTION 3.05. |
Remedies | 71 | ||
|
SECTION 3.06. |
Instrument for the Payment of Money | 72 | ||
|
SECTION 3.07. |
Continuing Guarantee | 72 | ||
- i -
|
SECTION 3.08. |
Rights of Contribution | 72 | ||
|
SECTION 3.09. |
General Limitation on Guarantee Obligations | 73 | ||
|
SECTION 3.10. |
Borrower Guarantee with Respect to Hedging Agreements | 73 | ||
| ARTICLE IV | ||||
| REPRESENTATIONS AND WARRANTIES | ||||
|
SECTION 4.01. |
Organization; Powers | 74 | ||
|
SECTION 4.02. |
Authorization; Enforceability | 74 | ||
|
SECTION 4.03. |
Governmental Approvals; No Conflicts | 74 | ||
|
SECTION 4.04. |
Financial Condition; No Material Adverse Change. | 75 | ||
|
SECTION 4.05. |
Properties. | 75 | ||
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SECTION 4.06. |
Litigation. | 75 | ||
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SECTION 4.07. |
Environmental Matters | 76 | ||
|
SECTION 4.08. |
Compliance with Laws and Agreements | 78 | ||
|
SECTION 4.09. |
Investment and Holding Company Status | 78 | ||
|
SECTION 4.10. |
Taxes | 78 | ||
|
SECTION 4.11. |
ERISA | 78 | ||
|
SECTION 4.12. |
Disclosure | 78 | ||
|
SECTION 4.13. |
Use of Credit | 79 | ||
|
SECTION 4.14. |
Capitalization | 79 | ||
|
SECTION 4.15. |
Subsidiaries and Investments. | 79 | ||
|
SECTION 4.16. |
Solvency | 79 | ||
| ARTICLE V | ||||
| CONDITIONS | ||||
|
SECTION 5.01. |
Effective Date | 80 | ||
|
SECTION 5.02. |
Each Credit Event | 84 | ||
| ARTICLE VI | ||||
| AFFIRMATIVE COVENANTS | ||||
|
SECTION 6.01. |
Financial Statements and Other Information | 84 | ||
|
SECTION 6.02. |
Notices of Material Events | 86 | ||
|
SECTION 6.03. |
Existence; Conduct of Business | 87 | ||
|
SECTION 6.04. |
Payment of Obligations | 87 | ||
|
SECTION 6.05. |
Maintenance of Properties; Insurance | 87 | ||
|
SECTION 6.06. |
Books and Records; Inspection Rights | 87 | ||
|
SECTION 6.07. |
Compliance with Laws | 87 | ||
|
SECTION 6.08. |
Use of Proceeds | 88 | ||
|
SECTION 6.09. |
Certain Obligations Respecting Subsidiaries. | 88 | ||
|
SECTION 6.10. |
Commitment Letter | 91 | ||
- ii -
| ARTICLE VII | ||||
| NEGATIVE COVENANTS | ||||
|
SECTION 7.01. |
Indebtedness | 91 | ||
|
SECTION 7.02. |
Liens | 94 | ||
|
SECTION 7.03. |
Fundamental Changes | 95 | ||
|
SECTION 7.04. |
Disposition of Property | 97 | ||
|
SECTION 7.05. |
Acquisition of Property | 97 | ||
|
SECTION 7.06. |
Investments | 98 | ||
|
SECTION 7.07. |
Restricted Payments. | 99 | ||
|
SECTION 7.08. |
Transactions with Affiliates | 101 | ||
|
SECTION 7.09. |
Certain Restrictions. | 101 | ||
|
SECTION 7.10. |
Certain Financial Covenants. | 102 | ||
|
SECTION 7.11. |
Subordinated Indebtedness. | 103 | ||
|
SECTION 7.12. |
Senior Unsecured Indebtedness. | 104 | ||
|
SECTION 7.13. |
Modifications of Certificate of Incorporation. | 104 | ||
|
SECTION 7.14. |
Specified Mondavi Entities. | 104 | ||
| ARTICLE VIII | ||||
| EVENTS OF DEFAULT | ||||
| ARTICLE IX | ||||
| THE ADMINISTRATIVE AGENT | ||||
| ARTICLE X | ||||
| MISCELLANEOUS | ||||
|
SECTION 10.01. |
Notices | 111 | ||
|
SECTION 10.02. |
Waivers; Amendments. | 111 | ||
|
SECTION 10.03. |
Expenses; Indemnity; Damage Waiver. | 113 | ||
|
SECTION 10.04. |
Successors and Assigns. | 115 | ||
|
SECTION 10.05. |
Survival | 119 | ||
|
SECTION 10.06. |
Counterparts; Integration; Effectiveness | 119 | ||
|
SECTION 10.07. |
Severability | 119 | ||
|
SECTION 10.08. |
Right of Setoff | 119 | ||
|
SECTION 10.09. |
Governing Law; Jurisdiction; Etc. | 120 | ||
|
SECTION 10.10. |
WAIVER OF JURY TRIAL | 120 | ||
|
SECTION 10.11. |
Headings | 121 | ||
|
SECTION 10.12. |
Treatment of Certain Information; Disclosure. | 121 | ||
|
SECTION 10.13. |
Credit Agreement under Indentures; Existing Credit Agreement. | 122 | ||
|
SECTION 10.14. |
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