Berry Global (BERY) 8-K Entry into a Material Definitive Agreement

EXHIBIT 10.1

$850,000,000

THIRD AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

Dated as of May 1, 2019

Among

BERRY GLOBAL, INC.,as U.S. Borrower,

BERRY GLOBAL GROUP, INC.,as Holdings,

THE LENDERS PARTY HERETO,

BANK OF AMERICA, N.A.,as Collateral Agent and Administrative Agent,

BARCLAYS BANK PLC and WELLS FARGO BANK, NATIONAL ASSOCIATION,as Co-Syndication Agents,

CITIGROUP GLOBAL MARKETS INC., CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH and U.S. BANK, NATIONAL ASSOCIATION,as Co-Documentation Agents,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BARCLAYS CAPITAL and WELLS FARGO BANK, NATIONAL ASSOCIATION,as Joint Lead Arrangers

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BARCLAYS CAPITAL and WELLS FARGO BANK, NATIONAL ASSOCIATION,as Joint Bookrunners

TABLE OF CONTENTS

Page

ARTICLE I
DEFINITIONS

SECTION 1.01.	Defined Terms	1
SECTION 1.02.	Terms Generally	68
SECTION 1.03.	Effectuation of Transactions	69
SECTION 1.04.	Exchange Rates; Currency Equivalents	69
SECTION 1.05.	Senior Debt	69
SECTION 1.06.	Effect of Restatement	69
SECTION 1.07.	Interest Rates	70

ARTICLE II
THE CREDITS

SECTION 2.01.	Commitments	70
SECTION 2.02.	Loans and Borrowings	71
SECTION 2.03.	Requests for Borrowings	72
SECTION 2.04.	Swingline Loans and Agent Advances	74
SECTION 2.05.	Letters of Credit	78
SECTION 2.06.	Funding of Borrowings	83
SECTION 2.07.	Interest Elections	84
SECTION 2.08.	Termination and Reduction of Commitments	85
SECTION 2.09.	Repayment of Loans; Evidence of Debt	86
SECTION 2.10.	Repayment of Revolving Loans	87
SECTION 2.11.	Prepayment of Loans	87
SECTION 2.12.	Fees	88
SECTION 2.13.	Interest	90
SECTION 2.14.	Alternate Rate of Interest	91
SECTION 2.15.	Increased Costs	93
SECTION 2.16.	Break Funding Payments	94
SECTION 2.17.	Taxes	95
SECTION 2.18.	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	98
SECTION 2.19.	Mitigation Obligations; Replacement of Lenders	100
SECTION 2.20.	Illegality	101
SECTION 2.21.	Incremental Commitments	101
SECTION 2.22.	Cash Collateral for Defaulting Lenders	103
SECTION 2.23.	Defaulting Lenders	104

ARTICLE III
REPRESENTATIONS AND WARRANTIES

SECTION 3.01.	Organization; Powers	106
SECTION 3.02.	Authorization	106
SECTION 3.03.	Enforceability	106
SECTION 3.04.	Governmental Approvals	106
SECTION 3.05.	Financial Statements	107
SECTION 3.06.	No Material Adverse Effect	107
SECTION 3.07.	Title to Properties; Possession Under Leases	107
SECTION 3.08.	Subsidiaries	107
SECTION 3.09.	Litigation; Compliance with Laws	108
SECTION 3.10.	Federal Reserve Regulations	108
SECTION 3.11.	Investment Company Act	108
SECTION 3.12.	Use of Proceeds	108
SECTION 3.13.	Tax Returns	108
SECTION 3.14.	No Material Misstatements	109
SECTION 3.15.	Employee Benefit Plans	109
SECTION 3.16.	Environmental Matters	110
SECTION 3.17.	Security Documents	111
SECTION 3.18.	Location of Real Property and Leased Premises	112
SECTION 3.19.	Solvency	112
SECTION 3.20.	Labor Matters	113
SECTION 3.21.	Insurance	113
SECTION 3.22.	No Default	113
SECTION 3.23.	Intellectual Property; Licenses, Etc.	113
SECTION 3.24.	[Reserved]	113
SECTION 3.25.	Common Enterprise	113
SECTION 3.26.	Sanctioned Persons; Anti-Money Laundering; Etc.	114

ARTICLE IV
CONDITIONS OF LENDING

SECTION 4.01.	All Credit Events	115
SECTION 4.02.	Effectiveness of the Amendment and Restatement	116
SECTION 4.03.	Conditions Precedent to Initial Credit Event under Canadian Revolving Facility	119

ARTICLE V
AFFIRMATIVE COVENANTS

SECTION 5.01.	Existence; Businesses and Properties	121
SECTION 5.02.	Insurance	122
SECTION 5.03.	Taxes	122
SECTION 5.04.	Financial Statements, Reports, etc.	123
SECTION 5.05.	Litigation and Other Notices	125
SECTION 5.06.	Compliance with Laws	126
SECTION 5.07.	Maintaining Records; Access to Properties and Inspections	126
SECTION 5.08.	Use of Proceeds	126
SECTION 5.09.	Compliance with Environmental Laws	126
SECTION 5.10.	Further Assurances; Additional Security	127
SECTION 5.11.	Appraisals and Reports	128
SECTION 5.12.	Collateral Reporting	129
SECTION 5.13.	Accounts	129
SECTION 5.14.	Collection of Accounts; Payments	130
SECTION 5.15.	Inventory; Perpetual Inventory	132
SECTION 5.16.	Foreign Plans	132

SECTION 6.01.	Indebtedness	133
SECTION 6.02.	Liens	136
SECTION 6.03.	Sale and Lease-Back Transactions	140
SECTION 6.04.	Investments, Loans and Advances	141
SECTION 6.05.	Mergers, Consolidations, Sales of Assets and Acquisitions	144
SECTION 6.06.	Dividends and Distributions	147
SECTION 6.07.	Transactions with Affiliates	149
SECTION 6.08.	Business of the Borrowers and the Subsidiaries	151
SECTION 6.09	Limitation on Modification of Indebtedness; Modifications of Certificate of
	Incorporation, By-Laws and Certain Other Agreements;	151
SECTION 6.10.	Fiscal Year; Accounting	153
SECTION 6.11.	Availability Triggering Event	153
SECTION 6.12.	Qualified CFC Holding Companies	153
SECTION 6.13.	Canadian Defined Benefit Plans	153

ARTICLE VI
NEGATIVE COVENANTS

ARTICLE VII
EVENTS OF DEFAULT

SECTION 7.01.	Events of Default	154
SECTION 7.02.	Exclusion of Immaterial Subsidiaries	157
SECTION 7.03.	Holdings’ Right to Cure	157

ARTICLE VIII
THE AGENTS