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Title: |
Credit Agreement |
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Entities: |
A. Schulman Inc.; National City Bank; Bank of New York; Keybank NA |
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Date: |
2004 |
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Size: |
Preview shows 6KB of 235KB total |
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Price: |
$74 |
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ID: |
#893275 |
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Credit Agreement among the Company, the Lenders, Keybank National Association
(as joint lead arranger and administrative agent) and National City Bank (as
joint lead arranger and syndication agent) dated August 20, 2004.
<PAGE>
================================================================================
CREDIT AGREEMENT
AMONG
A. SCHULMAN, INC.,
AS BORROWER,
THE LENDERS NAMED HEREIN,
AS LENDERS,
KEYBANK NATIONAL ASSOCIATION,
AS JOINT LEAD ARRANGER AND ADMINISTRATIVE AGENT,
AND
NATIONAL CITY BANK,
AS JOINT LEAD ARRANGER AND SYNDICATION AGENT
---------------------
DATED AS OF
AUGUST 20, 2004
---------------------
================================================================================
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
----
<S> <C>
ARTICLE I. DEFINITIONS............................................................. 1
Section 1.1. Definitions....................................................... 1
Section 1.2. Accounting Terms.................................................. 19
Section 1.3. Terms Generally................................................... 19
ARTICLE II. AMOUNT AND TERMS OF CREDIT............................................. 19
Section 2.1. Amount and Nature of Credit....................................... 19
Section 2.2. Revolving Credit.................................................. 20
Section 2.3. Interest.......................................................... 26
Section 2.4. Evidence of Indebtedness.......................................... 27
Section 2.5. Notice of Credit Event; Funding of Loans.......................... 27
Section 2.6. Payment on Loans and Other Obligations............................ 28
Section 2.7. Prepayment........................................................ 29
Section 2.8. Facility and Other Fees........................................... 30
Section 2.9. Modifications of Commitment....................................... 30
Section 2.10. Computation of Interest and Fees................................. 31
Section 2.11. Mandatory Payment................................................ 31
Section 2.12. Extension of Commitment.......................................... 31
ARTICLE III. ADDITIONAL PROVISIONS RELATING TO LIBOR FIXED RATE LOANS;
INCREASED CAPITAL; TAXES................................................. 32
Section 3.1. Requirements of Law............................................... 32
Section 3.2. Taxes............................................................. 33
Section 3.3. Funding Losses.................................................... 35
Section 3.4. Eurodollar Rate or Alternate Currency Rate Lending Unlawful;
Inability to Determine Rate............................................. 35
ARTICLE IV. CONDITIONS PRECEDENT................................................... 36
Section 4.1. Conditions to Each Credit Event................................... 36
Section 4.2. Conditions to the First Credit Event.............................. 36
ARTICLE V. COVENANTS............................................................... 38
Section 5.1. Insurance......................................................... 38
Section 5.2. Money Obligations................................................. 38
Section 5.3. Financial Statements and Information.............................. 38
Section 5.4. Financial Records................................................. 39
Section 5.5. Franchises; Change in Business.................................... 40
Section 5.6. ERISA Compliance.................................................. 40
Section 5.7. Financial Covenants............................................... 40
Section 5.8. Borrowing......................................................... 41
Section 5.9. Liens............................................................. 41
Section 5.10. Regulations T, U and X........................................... 43
Section 5.11. Investments, Loans and Guaranties................................ 43
Section 5.12. Merger and Sale of Assets........................................ 44
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