EXHIBIT 10-D.5
[CONFORMED COPY]
ASSIGNMENT AND ASSUMPTION AGREEMENT
AGREEMENT dated as of July 6, 1999 among each institution listed on
Schedule 1 hereto under the heading "Assignor" (each, an "Assignor"), each
institution listed on Schedule 1 hereto under the heading "Assignee" (each, an
"Assignee"), U S WEST, Inc. (the "Company") and Morgan Guaranty Trust Company of
New York, as Administrative Agent (the "Agent").
W I T N E S S E T H
WHEREAS, this Assignment and Assumption Agreement (the "Agreement")
relates to the 364-Day Credit Agreement dated as of June 11, 1999 among the
Company, the Borrower named therein, the Assignors, as Banks, and the Agent (the
"Credit Agreement");
WHEREAS, as provided under the Credit Agreement, each Assignor has a
Commitment to make Loans to the Borrower;
WHEREAS, there are no Loans outstanding under the Credit Agreement at
the date hereof; and
WHEREAS, each Assignor proposes to assign to each Assignee a ratable
portion all of the rights of the Assignor under the Credit Agreement in respect
of a portion of its Commitment thereunder (the "Assigned Amount") such that,
after giving effect to such assignments, the Commitment of each Assignor shall
be the amount set forth on Schedule 1 hereto opposite such Assignor's name under
the heading "Commitment", and each Assignee proposes to accept such assignment
from each Assignor and assume the corresponding obligations of such Assignor on
such terms;
NOW, THEREFORE, in consideration of the foregoing and the mutual
agreements contained herein, the parties hereto agree as follows:
SECTION 1. Definitions. All capitalized terms not otherwise defined
herein shall have the respective meanings set forth in the Credit Agreement.
SECTION 2. Assignment. Each Assignor hereby assigns and sells to each
Assignee a ratable portion of such Assignor's Assigned Amount (and all of the
rights of such Assignor under the Credit Agreement with respect thereto and to
the extent thereof), and each Assignee hereby accepts such assignment from each
Assignor and assumes all of the obligations of each Assignor under the Credit
Agreement to the extent of the portion of such Assignor's Assigned Amount so
assigned to such Assignee. Upon the execution and delivery hereof by each
Assignor, each Assignee, the Company and the Agent, (i) each Assignee shall, as
of the date hereof, succeed to the rights and be obligated to perform the
obligations of a Bank under the Credit Agreement with a Commitment in an amount
equal to the amount set forth on Schedule 1 hereto opposite such Assignee's name
under the heading "Commitment", and (ii) each Assignor shall, as of the date
hereof, have a Commitment in an amount equal to the amount set forth on Schedule
1 hereto opposite such Assignor's name under the heading "Commitment". The
assignments provided for herein shall be without recourse to any Assignor.
SECTION 3. Fees. Facility fees accrued to the date hereof with respect
to the Assigned Amount of each Assignor are for the account of such Assignor and
such fees accruing from and including the date hereof with respect to the
portion of the Assigned Amount of each Assignor assigned to each Assignee in
accordance with Section 2 are for the account of such Assignee. Each Assignor
and Assignee hereby agrees to that if it receives any amount under the Credit
Agreement which is for the account of another party hereto, it shall receive the
same for the account of such other party to the extent of such other party's
interest therein and shall promptly pay the same to such other party.
SECTION 4. Consent of the Company and the Agent. This Agreement is
conditioned upon the consent of the Company and the Agent pursuant to Section
10.06(c) of the Credit Agreement. The execution of this Agreement by the Company
and the Agent is evidence of this consent. Pursuant to Section 10.06(c), the
Company agrees to cause the Borrower to execute and deliver a Note payable to
the order of each Assignee to evidence the assignment and assumption provided
for herein.
SECTION 5. Non-Reliance on Assignors. No Assignor makes any
representation or warranty in connection with, and shall have no responsibility
with respect to, the solvency, financial condition, or statements of the Company
or the Borrower, or the validity and enforceability of the obligations of the
Company or the Borrower in respect of the Credit Agreement or any Note. Each
Assignee acknowledges that it has, independently and without reliance on any
Assignor, and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this
Agreement and will continue to be responsible for making its own independent
appraisal of the business, affairs and financial condition of the Company and
the Borrower.
SECTION 6. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.
SECTION 7. Counterparts. This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.
IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed and delivered by their duly authorized officers as of the date first
above written.
ASSIGNORS
MORGAN GUARANTY TRUST
COMPANY OF NEW YORK
By /s/ Robert Bottamedi
Title: Vice President
BANK OF AMERICA NATIONAL
TRUST AND SAVINGS ASSOCIATION
By /s/ Douglas T. Meckelnburg
Title: Vice President
THE CHASE MANHATTAN BANK
By /s/ Edmond DeForest
Title: Vice President
CITIBANK, N.A.
By /s/ Maureen Maroney
Title: Vice President
ABN AMRO BANK N.V.
By /s/ Joanna Riopelle
Title: Senior Vice President
By /s/ Sang W. Lee
Title: Assistant Vice President
THE BANK OF NEW YORK
By /s/ James Whitaker
Title: Vice President
COMMERZBANK AG LOS ANGELES
AND GRAND CAYMAN BRANCHES
By /s/ Christian Jagenberg
Title: Senior Vice President
and Manager
By /s/ Steven F. Larsen
Title: Vice President
THE FIRST NATIONAL BANK OF
CHICAGO
By /s/ Lori J. Thomas
Title: Vice President
MELLON BANK, N.A.
By /s/ Henry S. Beukema
Title: Assistant Vice President
ASSIGNEES
BAYERISCHE LANDESBANK
GIROZENTRALE CAYMAN
ISLANDS BRANCH
By /s/ Peter Obermann
Title: Senior Vice President
By /s/ James H. Boyle
Title: Vice President
BANQUE NATIONALE DE PARIS
By /s/ Clive Bettles
Title: Senior Vice President
& Manager
By /s/ Mitchell M. Ozawa
Title: Vice President
FLEET NATIONAL BANK
By /s/ Sue Anderson
Title: Vice President
HSBC BANK USA
By /s/ Steve Trepiccione
Title: Vice President
Officer # 9435
THE INDUSTRIAL BANK OF JAPAN, LTD.
By /s/ Mike Oakes
Title: Senior Vice President,
Houston Office
KBC BANK N.V.
By /s/ Robert Snauffer
Title: First Vice President
By /s/ Michael V. Curran
Title: Vice President
ROYAL BANK OF CANADA
By /s/ Stephanie Babich
Title: Senior Manager
THE ROYAL BANK OF SCOTLAND PLC
By /s/ K. C. Barclay
Title: Head of Media and
Telecommunications
THE SANWA BANK, LIMITED
By /s/ Kenneth C. Eichwald
Title: First Vice President
and Assistant General Manager
TORONTO DOMINION (TEXAS), INC.
By /s/ Anne C. Favoriti
Title: Vice President
WELLS FARGO BANK, NATIONAL
ASSOCIATION
By /s/ Donald A. Hartmann
Title: Senior Vice President
By /s/ Catherine M. Wallace
Title: Vice President
WESTDEUTSCHE LANDESBANK
GIROZENTRALE, NEW YORK BRANCH
By /s/ Lisa Walker
Title: Vice President
By /s/ Barry Wadler
Title: Associate
ARAB BANK PLC
By /s/ Nofal S. Barbar
Title: EVP & Regional Manager
THE BANK OF TOKYO-MITSUBISHI
TRUST COMPANY
By /s/ Hidekazu Kojima
Title: Vice President
BW CAPITAL MARKETS, INC.
By /s/ Thomas A. Lowe
Title: Vice President
By /s/ Robert B. Herber
Title: Managing Director
KEYBANK NATIONAL ASSOCIATION
By /s/ Mary K. Young
Title: Assistant Vice President
BANK HAPOALIM B.M.
By /s/ Shaun Breidbart
Title: Vice President
By /s/ Conrad Wagner
Title: First Vice President
ARAB BANKING CORPORATION B.S.C.
By /s/ Richard B. Whelan
Title: Chief Representative
CARIPLO-CASSA DI RISPARMIO
DELLE PROVINCIE LOMBARDE S.P.A.
By /s/ Maria Elena Greene
Title: Assistant Vice President
By /s/ Giancarlo Baiocchi
Title: Assistant Vice President
FIRST NATIONAL BANK OF OMAHA
By /s/ James P. Bonham
Title: Vice President
U S WEST, INC.
By /s/ Sean P. Foley
Title: Vice President - Treasurer
MORGAN GUARANTY TRUST
COMPANY OF NEW YORK, as
Administrative Agent
By /s/ Robert Bottamedi
Title: Vice President
SCHEDULE 1
Assignors: Commitment
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Morgan Guaranty Trust Company of New York $65,000,000
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Bank of America National Trust and Savings $65,000,000
Association
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The Chase Manhattan Bank $65,000,000
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Citibank, N.A. $65,000,000
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ABN AMRO Bank N.V. $57,000,000
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The Bank of New York $57,000,000
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Commerzbank AG Los Angeles and Grand Cayman $57,000,000
Branches
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The First National Bank of Chicago $57,000,000
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Mellon Bank, N.A. $57,000,000
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Assignees: Commitment
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Bayerische Landesbank Girozentrale Cayman $55,000,000
Islands Branch
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Banque Nationale De Paris $55,000,000
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Fleet National Bank $55,000,000
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HSBC Bank USA $55,000,000
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The Industrial Bank of Japan, Ltd. $55,000,000
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KBC Bank N.V. $55,000,000
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Royal Bank of Canada $55,000,000
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The Royal Bank of Scotland PLC $55,000,000
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The Sanwa Bank, Limited $55,000,000
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Toronto Dominion (Texas), Inc. $55,000,000
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Wells Fargo Bank, National Association $55,000,000
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Westdeutsche Landesbank Girozentrale, New York $55,000,000
Branch
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Arab Bank Plc $45,000,000
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The Bank of Tokyo-Mitsubishi Trust Company $45,000,000
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BW Capital Markets, Inc. $45,000,000
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KeyBank National Association $45,000,000
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Bank Hapoalim B.M. $40,000,000
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Arab Banking Corporation B.S.C. $25,000,000
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Cariplo-Cassa di Risparmio Delle Provincie $25,000,000
Lombarde S.p.A.
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First National Bank of Omaha $25,000,000
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