as U.S. Borrower,
APPLIED BIOSYSTEMS FINANCE B.V., and
LIFE TECHNOLOGIES HOLDINGS B.V.,
as Foreign Borrowers,
as Administrative Agent, Swing Line Lender and L/C Issuer
and
J.P. MORGAN SECURITIES INC.,
as Co-Syndication Agents,
and
and
CITIBANK, N.A.,
as Co-Documentation Agents
DNB NOR BANK ASA
and
J.P. MORGAN SECURITIES INC.,
as Joint Lead Arrangers and Joint Book Managers
Page | ||||||
ARTICLE I | ||||||
DEFINITIONS AND ACCOUNTING TERMS | ||||||
Section 1.01 | Defined Terms | 2 | ||||
Section 1.02 | Other Interpretative Provisions | 38 | ||||
Section 1.03 | Accounting Terms and Determinations | 38 | ||||
Section 1.04 | Rounding | 39 | ||||
Section 1.05 | Times of Day | 39 | ||||
Section 1.06 | Letter of Credit Amounts | 39 | ||||
Section 1.07 | Classes and Types of Borrowings | 39 | ||||
Section 1.08 | Currency Equivalents Generally | 39 | ||||
Section 1.09 | Redenomination of Certain Foreign Currencies into Euros | 40 | ||||
Section 1.10 | Additional Alternative Currencies | 40 | ||||
ARTICLE II | ||||||
THE COMMITMENTS AND CREDIT EXTENSIONS | ||||||
Section 2.01 | The Loans | 41 | ||||
Section 2.02 | Borrowings, Conversions and Continuations of Loans | 41 | ||||
Section 2.03 | Letters of Credit | 43 | ||||
Section 2.04 | Swing Line Loans | 51 | ||||
Section 2.05 | Prepayments | 54 | ||||
Section 2.06 | Termination or Reduction of Commitments | 55 | ||||
Section 2.07 | Repayment of Loans | 55 | ||||
Section 2.08 | Interest | 56 | ||||
Section 2.09 | Fees | 56 | ||||
Section 2.10 | Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate | 57 | ||||
Section 2.11 | Evidence of Debt | 58 | ||||
Section 2.12 | Payments Generally; Administrative Agent’s Clawback | 58 | ||||
Section 2.13 | Sharing of Payments by Lenders | 60 | ||||
Section 2.14 | Additional Revolving Credit Commitments | 61 | ||||
Section 2.15 | Cash Collateral | 63 | ||||
Section 2.16 | Defaulting Lenders | 64 | ||||
ARTICLE III | ||||||
TAXES, YIELD PROTECTION AND ILLEGALITY | ||||||
Section 3.01 | Taxes | 66 | ||||
Section 3.02 | Illegality | 75 | ||||
Section 3.03 | Inability to Determine Rates | 75 | ||||
Section 3.04 | Increased Costs | 76 | ||||
Section 3.05 | Compensation for Losses | 77 | ||||
Section 3.06 | Mitigation Obligations; Replacement of Lenders | 78 | ||||
Section 3.07 | Survival | 78 |
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Page | ||||||
ARTICLE IV | ||||||
CONDITIONS PRECEDENT TO CREDIT EXTENSIONS | ||||||
Section 4.01 | Conditions to Effectiveness of Amendment and Restatement | 78 | ||||
Section 4.02 | Conditions to All Credit Extensions | 80 | ||||
ARTICLE V | ||||||
REPRESENTATIONS AND WARRANTIES | ||||||
Section 5.01 | Existence, Qualification and Power | 81 | ||||
Section 5.02 | Authorization; No Contravention | 82 | ||||
Section 5.03 | Governmental Authorization; Other Consents | 82 | ||||
Section 5.04 | Binding Effect | 82 | ||||
Section 5.05 | Financial Condition; No Material Adverse Effect | 82 | ||||
Section 5.06 | Litigation | 83 | ||||
Section 5.07 | No Default | 83 | ||||
Section 5.08 | Ownership of Property | 83 | ||||
Section 5.09 | Environmental Compliance | 83 | ||||
Section 5.10 | Insurance | 83 | ||||
Section 5.11 | Taxes | 84 | ||||
Section 5.12 | ERISA; Foreign Pension Plans; Employee Benefit Arrangements | 84 | ||||
Section 5.13 | Subsidiaries; Equity Interests; Loan Parties | 85 | ||||
Section 5.14 | Margin Regulations; Investment Company Act | 85 | ||||
Section 5.15 | Disclosure | 86 | ||||
Section 5.16 | Compliance with Law | 86 | ||||
Section 5.17 | Intellectual Property | 86 | ||||
Section 5.18 | Solvency | 86 | ||||
Section 5.19 | Labor Matters | 86 | ||||
ARTICLE VI | ||||||
AFFIRMATIVE COVENANTS | ||||||
Section 6.01 | Financial Statements | 87 | ||||
Section 6.02 | Certificates; Other Information | 87 | ||||
Section 6.03 | Notices | 89 | ||||
Section 6.04 | Payment of Obligations | 90 | ||||
Section 6.05 | Preservation of Existence Etc. | 90 | ||||
Section 6.06 | Maintenance of Properties | 90 | ||||
Section 6.07 | Maintenance of Insurance | 90 | ||||
Section 6.08 | Compliance with Laws | 90 | ||||
Section 6.09 | Books and Records | 91 | ||||
Section 6.10 | Inspection Rights | 91 | ||||
Section 6.11 | Use of Proceeds | 91 | ||||
Section 6.12 | Covenant to Guarantee Obligations | 91 | ||||
Section 6.13 | Compliance with Environmental Laws | 91 | ||||
Section 6.14 | Preparation of Environmental Reports | 92 | ||||
Section 6.15 | Further Assurances | 92 | ||||
Section 6.16 | Designation as “Senior Debt” | 92 | ||||
Section 6.17 | Taxpayer Identification Number | 92 | ||||
Section 6.18 | Maintenance of Ratings | 92 | ||||
Section 6.19 | Post-Closing Matters | 92 |
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Page | ||||||
ARTICLE VII | ||||||
NEGATIVE COVENANTS | ||||||
Section 7.01 | Restriction on Liens | 93 | ||||
Section 7.02 | Limitation on Indebtedness | 95 | ||||
Section 7.03 | Investments | 98 | ||||
Section 7.04 | Fundamental Changes | 100 | ||||
Section 7.05 | Dispositions | 102 | ||||
Section 7.06 | Restricted Payments, etc. | 103 | ||||
Section 7.07 | Change in Nature of Business | 104 | ||||
Section 7.08 | Transactions with Affiliates | 104 | ||||
Section 7.09 | Burdensome Agreements | 105 | ||||
Section 7.10 | Use of Proceeds | 105 | ||||
Section 7.11 | Financial Covenants | 106 | ||||
Section 7.12 | Amendment of Organization Documents | 106 | ||||
Section 7.13 | Accounting Changes | 106 | ||||
Section 7.14 | Prepayments of Indebtedness, etc. | 106 | ||||
Section 7.15 | Amendments of Indebtedness | 106 | ||||
Section 7.16 | Sale and Leaseback Transactions | 106 | ||||
Section 7.17 | Independence of Covenants | 107 | ||||
ARTICLE VIII | ||||||
DEFAULTS | ||||||
Section 8.01 | Events of Default | 107 | ||||
Section 8.02 | Remedies upon Event of Default | 109 | ||||
Section 8.03 | Application of Funds | 110 | ||||
ARTICLE IX | ||||||
AGENCY PROVISIONS | ||||||
Section 9.01 | Appointment and Authority | 111 | ||||
Section 9.02 | Rights as a Lender | 112 | ||||
Section 9.03 | Exculpatory Provisions | 112 | ||||
Section 9.04 | Reliance by Administrative Agent | 113 | ||||
Section 9.05 | Delegation of Duties | 113 | ||||
Section 9.06 | Resignation of Administrative Agent | 113 | ||||
Section 9.07 | Non-Reliance on Administrative Agent and Other Lenders | 114 | ||||
Section 9.08 | No Other Duties, Etc. | 114 | ||||
Section 9.09 | Administrative Agent May File Proofs of Claim | 114 | ||||
Section 9.10 | Guaranty Matters | 115 | ||||
Section 9.11 | Guaranteed Cash Management Agreements and Guaranteed Hedge Agreements | 115 | ||||
Section 9.12 | Special Provisions Relating to Foreign Borrower Jurisdictions | 115 | ||||
ARTICLE X | ||||||
MISCELLANEOUS | ||||||
Section 10.01 | Amendments, Etc. | 116 | ||||
Section 10.02 | Notices; Effectiveness; Electronic Communication | 118 | ||||
Section 10.03 | No Waiver; Cumulative Remedies; Enforcement | 120 |
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Section 10.04 | Expenses; Indemnity; Damage Waiver | 120 | ||||
Section 10.05 | Payments Set Aside | 122 | ||||
Section 10.06 | Successors and Assigns | 122 | ||||
Section 10.07 | Treatment of Certain Information; Confidentiality | 126 | ||||
Section 10.08 | Right of Setoff | 127 | ||||
Section 10.09 | Interest Rate Limitation | 128 | ||||
Section 10.10 | Counterparts; Integration; Effectiveness | 128 | ||||
Section 10.11 | Survival of Representations and Warranties | 128 | ||||
Section 10.12 | Severability | 128 | ||||
Section 10.13 | Replacement of Lenders | 129 | ||||
Section 10.14 | Governing Law; Jurisdiction Etc. | 129 | ||||
Section 10.15 | Waiver of Jury Trial | 130 | ||||
Section 10.16 | No Advisory or Fiduciary Responsibility | 131 | ||||
Section 10.17 | Electronic Execution of Assignments and Certain Other Documents | 131 | ||||
Section 10.18 | USA Patriot Act Notice | 131 | ||||
Section 10.19 | Judgment Currency | 132 | ||||
Section 10.20 | Termination of Revolving Credit Commitments and Repayment of Loans of Non-Continuing Lenders and Non-Consenting Lenders | 132 | ||||
Section 10.21 | Termination and Release of Liens | 133 | ||||
Section 10.22 | Effect of Amendment and Restatement of the Existing Credit Agreement | 133 |
Schedules: | ||||
Schedule 1.01A | – | Mandatory Cost | ||
Schedule 1.01B | – | Auction Rate Securities | ||
Schedule 1.01C | – | Cash Equivalents and Foreign Cash Equivalents | ||
Schedule 1.01D | – | Certain Existing Cash Management Banks and Hedge Banks | ||
Schedule 2.01 | – | Commitments and Applicable Percentage | ||
Schedule 2.03 | – | Existing Letters of Credit | ||
Schedule 5.03 | – | Certain Authorizations | ||
Schedule 5.06 | – | Litigation | ||
Schedule 5.09 | – | Environmental Matters | ||
Schedule 5.13 | – | Subsidiaries and Other Equity Investments; Loan Parties | ||
Schedule 5.17 | – | Intellectual Property Matters | ||
Schedule 6.19 | – | Post-Closing Matters | ||
Schedule 7.02 | – | Existing Indebtedness | ||
Schedule 10.02 | – | Administrative Agent’s Office; Certain Addresses for Notices | ||
Exhibits: | ||||
Exhibit A-1 | – | Form of Committed Loan Notice | ||
Exhibit A-2 | – | Form of Swing Line Loan Notice | ||
Exhibit B | – | Form of Note | ||
Exhibit C | – | Form of Assignment and Assumption |
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Exhibit D | – | Form of Compliance Certificate | ||
Exhibit E-1 | – | Form of Opinion of New York Counsel for certain Loan Parties | ||
Exhibit E-2 | – | Form of Opinion of Dutch Counsel for the Administrative Agent | ||
Exhibit F | – | Form of Amended and Restated Guaranty | ||
Exhibit G | – | Form of Loan Party Accession Agreement | ||
Exhibit H | – | Form of Solvency Certificate | ||
Exhibit I | – | Form of U.K. Borrower Accession Agreement |
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DEFINITIONS AND ACCOUNTING TERMS
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Applicable Rate | ||||||||||||||
Eurocurrency Rate | ||||||||||||||
and Letter of Credit | ||||||||||||||
Pricing Level | Total Leverage Ratio | Fees | Base Rate | Commitment Fee | ||||||||||
1 | ≥ 3.0:1 | 2.50 | % | 1.50 | % | 0.500 | % | |||||||
2 | < 3.0:1 but ≥ 2.5:1 | 2.25 | % | 1.25 | % | 0.375 | % | |||||||
3 | < 2.5:1 but ≥ 2.0:1 | 2.00 | % | 1.00 | % | 0.375 | % | |||||||
4 | < 2.0:1 | 1.50 | % | 0.50 | % | 0.250 | % |
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THE COMMITMENTS AND CREDIT EXTENSIONS
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TAXES, YIELD PROTECTION AND ILLEGALITY
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i. | a company so resident in the United Kingdom; or |
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ii. | a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; |
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CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
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REPRESENTATIONS AND WARRANTIES
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AFFIRMATIVE COVENANTS
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NEGATIVE COVENANTS
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Fiscal Quarter Ending | Maximum Total Leverage Ratio | |
March 31, 2010 | 3.75x | |
June 30, 2010 | 3.50x | |
September 30, 2010 and | 3.25x | |
each fiscal quarter thereafter |
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DEFAULTS
(i) | any Loan Party or any Subsidiary thereof (A) fails to make payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or |
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AGENCY PROVISIONS
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(a) | a necessary action to authorise where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s); |
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(b) | gross negligence meansgrove schuld; | ||
(c) | a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any rightin rem(beperkte recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); | ||
(d) | wilful misconduct meansopzet; | ||
(e) | a dissolution includes a Dutch entity being dissolved (ontbonden); | ||
(f) | a moratorium includessurseance van betalingand granted a moratorium includessurseance verleend; | ||
(g) | any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36(2) of the Dutch 1990 Tax Collection Act (Invorderingswet 1990); | ||
(h) | a receiver includes acurator; | ||
(i) | an administrator includes abewindvoerder; and | ||
(j) | an attachment includes abeslag. |
MISCELLANEOUS
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LIFE TECHNOLOGIES CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
APPLIED BIOSYSTEMS B.V. | ||||
By: | ||||
Name: | ||||
Title: | ||||
APPLIED BIOSYSTEMS FINANCE B.V. | ||||
By: | ||||
Name: | ||||
Title: | ||||
LIFE TECHNOLOGIES HOLDINGS B.V. | ||||
By: | ||||
Name: | ||||
Title: |
BANK OF AMERICA, N.A., as L/C Issuer | ||||
By: | ||||
Name: | ||||
Title: | ||||
BANK OF AMERICA, N.A., as Swing Line Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
BANK OF AMERICA, N.A., as Administrative Agent | ||||
By: | ||||
Name: | ||||
Title: |
Lender Signature Page NAME OF INSTITUTION: | ||||
By: | ||||
Name: | ||||
Title: | ||||