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Title: |
3-Year Revolving Credit Agreement |
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Entities: |
Banc One Capital Markets, Inc.; Bank One, NA; First National Bank of Chicago; Johnson Outdoors Inc.; McGraw-Hill Companies Inc.; Bank of New York |
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Date: |
2001 |
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Size: |
Preview shows 18KB of 325KB total |
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Price: |
$89 |
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ID: |
#880182 |
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3-YEAR REVOLVING CREDIT AGREEMENT
DATED AS OF AUGUST 31, 2001
AMONG
JOHNSON OUTDOORS INC.,
THE SUBSIDIARY BORROWERS
FROM TIME TO TIME PARTIES HERETO,
THE LENDERS FROM TIME TO TIME PARTIES HERETO,
and
BANK ONE, NA (MAIN OFFICE CHICAGO),
as Administrative Agent
--------------------------------------------------------------------------------
BANC ONE CAPITAL MARKETS, INC.,
as Arranger and Sole Book Runner
--------------------------------------------------------------------------------
SIDLEY AUSTIN BROWN & WOOD
Bank One Plaza
10 South Dearborn Street
Chicago, Illinois 60603
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I DEFINITIONS........................................................1
1.1. Certain Defined Terms.........................................1
1.2. References...................................................20
1.3. Supplemental Disclosure......................................20
ARTICLE II THE CREDITS......................................................20
2.1. Commitment...................................................20
2.2. Swing Line Loans.............................................21
2.2.1. Amount of Swing Line Loans...............................21
2.2.2. Borrowing Notice.........................................21
2.2.3. Making of Swing Line Loans...............................21
2.2.4. Repayment of Swing Line Loans............................21
2.3. Determination of Dollar Amounts; Required Payments;
Termination................................................22
2.3.1. Determination of Dollar Amounts..........................22
2.3.2. Required Payments........................................23
2.3.3. Termination..............................................23
2.4. Ratable Loans................................................23
2.5. Types of Advances............................................23
2.6. Commitment Fee; Reductions in Aggregate Commitment;
Increases in Aggregate Commitment..........................23
2.6.1. Commitment Fee...........................................23
2.6.2. Reductions in Aggregate Commitment.......................23
2.6.3. Increase of Aggregate Commitment.........................24
2.7. Minimum Amount of Each Advance...............................24
2.8. Principal Payments...........................................24
2.8.1. Optional Principal Payments..............................25
2.8.2. Mandatory Principal Payments.............................25
2.9. Method of Selecting Types and Interest Periods for
New Advances; Method of Borrowing; Advances to be
Made in euro...............................................25
2.9.1. Method of Selecting Types and Interest Periods
for New Advances.......................................25
2.9.2. Method of Borrowing......................................26
2.9.3. Advances to be Made in euro..............................26
2.10. Conversion and Continuation of Outstanding Advances..........26
i
<PAGE>
2.11. Changes in Interest Rate, etc................................27
2.12. No Conversion or Continuation of Eurocurrency Advances
After Default; Rates Applicable After Default..............27
2.13. Method of Payment............................................28
2.14. Noteless Agreement; Evidence of Indebtedness.................29
2.15. Telephonic Notices...........................................29
2.16. Interest Payment Dates; Interest and Fee Basis...............30
2.17. Notification of Advances, Interest Rates, Prepayments
and Commitment Reductions..................................30
2.18. Lending Installations........................................30
2.19. Non-Receipt of Funds by the Administrative Agent.............31
2.20. Replacement of Lender........................................31
2.21. Facility LCs.................................................31
2.21.1. Issuance; Transitional Facility LCs......................31
2.21.2. Participations...........................................32
2.21.3. Notice...................................................32
2.21.4. LC Fees..................................................32
2.21.5. Administration; Reimbursement by Lenders.................33
2.21.6. Reimbursement by the Borrowers...........................33
2.21.7. Obligations Absolute.....................................34
2.21.8. Actions of LC Issuers....................................34
2.21.9. Indemnification..........................................35
2.21.10. Lenders' Indemnification.................................35
2.21.11. Facility LC Collateral Account...........................36
2.21.12. Rights as a Lender.......................................36
2.22. Subsidiary Borrowers.........................................36
2.23. Judgment Currency............................................37
ARTICLE III YIELD PROTECTION; TAXES.........................................37
3.1. Yield Protection.............................................37
3.2. Changes in Capital Adequacy Regulations......................38
3.3. Availability of Types of Advances............................39
3.4. Funding Indemnification......................................39
3.5. Taxes........................................................39
3.6. Lender Statements; Survival of Indemnity.....................41
ii
<PAGE>
ARTICLE IV CONDITIONS PRECEDENT.............................................41
4.1. Initial Credit Extension.....................................41
4.2. Each Credit Extension........................................43
4.3. Initial Advance to Each New Subsidiary Borrower..............43
ARTICLE V REPRESENTATIONS AND WARRANTIES....................................44
5.1. Existence and Standing.......................................44
5.2. Authorization and Validity...................................44
5.3. No Conflict; Government Consent..............................45
5.4. Financial Statements.........................................45
5.5. Material Adverse Change......................................45
5.6. Taxes........................................................45
5.7. Litigation and Contingent Obligations........................45
5.8. Subsidiaries.................................................46
5.9. Accuracy of Information......................................46
5.10. Regulation U.................................................46
5.11. Material Agreements..........................................46
5.12. Compliance With Laws.........................................46
5.13. Ownership of Properties......................................46
5.14. ERISA; Foreign Pension Matters...............................47
5.15. Plan Assets; Prohibited Transactions.........................47
5.16. Environmental Matters........................................47
5.17. Investment Company Act.......................................48
5.18. Public Utility Holding Company Act...........................48
5.19. Insurance....................................................48
ARTICLE VI COVENANTS........................................................48
6.1. Reporting....................................................48
6.2. Use of Proceeds..............................................51
6.3. Notice of Default............................................51
6.4. Conduct of Business..........................................51
6.5. Taxes........................................................52
6.6. Insurance....................................................52
6.7. Compliance with Laws; Maintenance of Plans...................52
6.8. Maintenance of Properties....................................52
iii
<PAGE>
6.9. Inspection; Keeping of Books and Records.....................52
6.10. Addition of Guarantors.......................................52
6.11. Dividends and Distributions..................................53
6.12. Indebtedness.................................................53
6.13. Merger.......................................................54
6.14. Sale of Assets...............................................54
6.15. Investments and Acquisitions.................................55
6.16. Liens........................................................57
6.17. Transactions with Affiliates.................................58
6.18. Financial Contracts..........................................58
6.19. ERISA........................................................58
6.20. Environmental Compliance.....................................59
6.21. Financial Covenants..........................................59
6.21.1. Maximum Leverage Ratio...................................59
6.21.2. Minimum Fixed Charge Coverage Ratio......................59
6.21.3. Minimum Consolidated Net Worth...........................60
ARTICLE VII DEFAULTS........................................................60
7.1. Breach of Representations or Warranties......................60
7.2. Failure to Make Payments When Due............................60
7.3. Breach of Covenants..........................................60
7.4. Other Breaches...............................................60
7.5. Default as to Other Indebtedness.............................60
7.6. Voluntary Bankruptcy; Appointment of Receiver; Etc...........61
7.7. Involuntary Bankruptcy; Appointment of Receiver; Etc.........61
7.8. Custody or Control of Property...............................61
7.9. Judgments....................................................61
7.10. ERISA Liabilities............................................62
7.11. Environmental Matters........................................62
7.12. Change in Control............................................62
7.13. Guarantor Revocation.........................................62
ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES.................62
8.1. Acceleration.................................................62
8.2. Amendments...................................................63
iv
<PAGE>
8.3. Preservation of Rights.......................................64
ARTICLE IX GUARANTY.........................................................65
9.1. Guarantee of Obligations.....................................65
9.1.1. Company Guaranty.........................................65
9.1.2. Performance by Company...................................65
9.2. Nature of Guaranty...........................................65
9.3. Waivers and Other Agreements.................................65
9.4. Obligations Absolute.........................................66
9.5. No Investigation by Lenders or Administrative Agent..........66
9.6. Indemnity....................................................67
9.7. Reinstatement................................................67
ARTICLE X GENERAL PROVISIONS................................................67
10.1. Survival of Representations..................................67
10.2. Governmental Regulation......................................67
10.3. Headings.....................................................67
10.4. Entire Agreement.............................................67
10.5. Several Obligations; Benefits of this Agreement..............67
10.6. Expenses; Indemnification....................................68
10.7. Numbers of Documents.........................................68
10.8. Accounting...................................................69
10.9. Severability of Provisions...................................69
10.10. Nonliability of Lenders......................................69
10.11. Confidentiality..............................................69
10.12. Lenders Not Utilizing Plan Assets............................70
10.13. Nonreliance..................................................70
10.14. Disclosure...................................................70
10.15. Subordination of Intercompany Indebtedness...................70
ARTICLE XI THE ADMINISTRATIVE AGENT.........................................71
11.1. Appointment; Nature of Relationship..........................71
11.2. Powers.......................................................72
11.3. General Immunity.............................................72
11.4. No Responsibility for Loans, Recitals, etc...................72
v
<PAGE>
11.5. Action on Instructions of Lenders............................72
11.6. Employment of Agents and Counsel.............................73
11.7. Reliance on Documents; Counsel...............................73
11.8. Administrative Agents' Reimbursement and Indemnification.....73
11.9. Notice of Default............................................73
11.10. Rights as a Lender...........................................74
11.11. Lender Credit Decision.......................................74
11.12. Successor Administrative Agents..............................74
11.13. Agent and Arranger Fees......................................75
11.14. Delegation to Affiliates.....................................75
11.15. Release of Guarantors........................................75
ARTICLE XII SETOFF; RATABLE PAYMENTS........................................75
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