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Title: |
Credit Agreement |
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Entities: |
AmSouth Bank; Banc of America Securities LLC; Bank One, NA; Citibank, NA; Citicorp USA, Inc.; Citigroup Global Markets Inc.; JPMorgan Chase Bank; Millennium Chemicals Inc.; Siemens Financial Services, Inc.; Bank of America, NA; Bank of New York; Baker Botts |
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Date: |
2004 |
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Size: |
Preview shows 35KB of 319KB total |
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Price: |
$92 |
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ID: |
#913583 |
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Start of Preview |
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$250,000,000
CREDIT AGREEMENT
Dated as of December 17, 2003
among
EQUISTAR CHEMICALS, LP,
and
THE SUBSIDIARIES
OF EQUISTAR CHEMICALS, LP
PARTY HERETO,
as Co-Borrowers
THE LENDERS PARTY HERETO,
BANK ONE, NA,
CREDIT SUISSE FIRST BOSTON
and
JPMORGAN CHASE BANK
as Co-Documentation Agents,
BANK OF AMERICA, N.A.,
and
CITICORP USA, INC.,
as Co-Collateral Agents
and
CITICORP USA, INC.,
as Administrative Agent
CITIGROUP GLOBAL MARKETS INC.
and
BANC OF AMERICA SECURITIES LLC,
Joint Lead Arrangers and Joint Bookrunners
TABLE OF CONTENTS
| PAGE | ||||
|
ARTICLE 1 | ||||
|
DEFINITIONS | ||||
|
Section 1.01. |
Definitions | 1 | ||
|
Section 1.02. |
Accounting Terms | 36 | ||
|
Section 1.03. |
Terms Generally | 37 | ||
|
Section 1.04. |
Classification of Loans and Borrowings | 37 | ||
|
ARTICLE 2 | ||||
|
THE LOANS | ||||
|
Section 2.01. |
Commitments | 37 | ||
|
Section 2.02. |
Loans | 37 | ||
|
Section 2.03. |
Notice of Borrowings | 39 | ||
|
Section 2.04. |
Conversions and Continuations | 40 | ||
|
Section 2.05. |
Swingline Loans | 41 | ||
|
Section 2.06. |
Letters of Credit | 42 | ||
|
Section 2.07. |
Fees | 48 | ||
|
Section 2.08. |
Maturity of Loans; Mandatory Prepayments | 49 | ||
|
Section 2.09. |
Evidence of Debt | 51 | ||
|
Section 2.10. |
Interest on Loans | 52 | ||
|
Section 2.11. |
Interest on Overdue Amounts; Alternative Rate of Interest | 52 | ||
|
Section 2.12. |
Termination and Reduction of Commitments and Swingline Facility | 53 | ||
|
Section 2.13. |
Optional Prepayment of Loans | 54 | ||
|
Section 2.14. |
Reserve Requirements; Change in Circumstances | 54 | ||
|
Section 2.15. |
Change in Legality | 56 | ||
|
Section 2.16. |
Indemnity | 57 | ||
|
Section 2.17. |
Pro Rata Treatment | 58 | ||
|
Section 2.18. |
Sharing of Setoffs | 59 | ||
|
Section 2.19. |
Taxes | 59 | ||
|
Section 2.20. |
Duty to Mitigate; Assignment of Commitments Under Certain Circumstances | 61 | ||
|
ARTICLE 3 | ||||
|
REPRESENTATIONS AND WARRANTIES | ||||
|
Section 3.01. |
Organization | 62 | ||
|
Section 3.02. |
Authorization | 62 | ||
|
Section 3.03. |
Absence of Conflicts | 62 | ||
|
Section 3.04. |
Governmental Approvals | 63 | ||
|
Section 3.05. |
Enforceability | 63 | ||
i
|
Section 3.06. |
Financial Statements | 63 | ||
|
Section 3.07. |
Material Adverse Effect | 64 | ||
|
Section 3.08. |
Litigation | 64 | ||
|
Section 3.09. |
Compliance with Law and Agreements. | 64 | ||
|
Section 3.10. |
Federal Reserve Regulations | 65 | ||
|
Section 3.11. |
Tax Returns | 65 | ||
|
Section 3.12. |
Employee Benefit Plans | 65 | ||
|
Section 3.13. |
Accuracy Of Information | 66 | ||
|
Section 3.14. |
Investment Company Act; Public Utility Holding Company Act | 66 | ||
|
Section 3.15. |
Environmental and Safety Matters | 67 | ||
|
Section 3.16. |
Title to Properties | 67 | ||
|
Section 3.17. |
Collateral | 67 | ||
|
Section 3.18. |
Subsidiaries | 67 | ||
|
Section 3.19. |
Insurance | 68 | ||
|
Section 3.20. |
Labor Matters | 68 | ||
|
Section 3.21. |
Solvency | 68 | ||
|
ARTICLE 4 | ||||
|
CONDITIONS OF LENDING | ||||
|
Section 4.01. |
All Borrowings | 68 | ||
|
Section 4.02. |
Effective Date | 69 | ||
|
ARTICLE 5 | ||||
|
AFFIRMATIVE COVENANTS | ||||
|
Section 5.01. |
Existence | 71 | ||
|
Section 5.02. |
Business and Properties | 71 | ||
|
Section 5.03. |
Maintenance of Insurance | 72 | ||
|
Section 5.04. |
Payment of Taxes | 72 | ||
|
Section 5.05. |
Financial Statements, Reports, Etc | 72 | ||
|
Section 5.06. |
Borrowing Base Reports | 75 | ||
|
Section 5.07. |
Litigation and Other Notices, Etc | 75 | ||
|
Section 5.08. |
ERISA | 76 | ||
|
Section 5.09. |
Books of Accounts; Examination of Records; Audits | 77 | ||
|
Section 5.10. |
Compliance with Laws, Etc | 77 | ||
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Section 5.11. |
Environmental Compliance | 77 | ||
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Section 5.12. |
Information Regarding Collateral | 77 | ||
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Section 5.13. |
Further Assurances | 77 | ||
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End of Preview |
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