Maryland Credit Agreement between Unilab Corp, Various Lending Institutions, Bankers Trust Co and Merrill Lynch Capital Corp

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9197
• Format: Word; Rich Text

Description

Credit Agreement between Unilab Corporation, Various Lending Institutions, Bankers Trust Company and Merrill Lynch Capital Corporation dated November 23, 1999. 110 pages The Maryland Credit Agreement between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp is a comprehensive and legally binding contract that outlines the terms and conditions governing the extension of credit to Unilab Corp by the lending institutions. This agreement serves as a critical financial arrangement, facilitating access to capital for Unilab Corp's operations and growth initiatives. It establishes the rights, responsibilities, and obligations of the involved parties, ensuring transparency and clarity in the credit relationship. Key components of the Maryland Credit Agreement may include: 1. Loan Amount and Purpose: The agreement specifies the total amount of credit extended by the lending institutions to Unilab Corp, as well as the purpose for which the funds will be used. This could include working capital requirements, investments in research and development, or other business needs. 2. Interest Rates and Fees: The agreement outlines the interest rates, fees, and charges applicable to the credit facility. It details the basis for calculating interest, any fixed or variable interest rate provisions, and the frequency of interest payments. 3. Repayment Terms: The Maryland Credit Agreement delineates the repayment schedule, including the principal repayment timeline and any interest payment requirements. It may also specify provisions for early repayment, prepayment penalties, or refinancing options. 4. Security and Collateral: To secure the credit facility, the agreement defines the collateral provided by Unilab Corp to the lending institutions. This may include physical assets such as real estate, equipment, or inventory, or intangible assets like intellectual property or accounts receivable. 5. Events of Default and Remedies: The agreement lists the events that will trigger a default, such as non-payment, breach of covenants, or insolvency. It outlines the remedies available to the lending institutions in case of default, which may include acceleration of the debt, imposition of penalties, or the right to seize and sell collateral. 6. Covenants and Conditions: The Maryland Credit Agreement details any financial or non-financial covenants that Unilab Corp must comply with during the term of the credit facility. These could include maintaining certain financial ratios, providing audited financial statements, or obtaining the lenders' consent for significant business transactions. 7. Guarantees and Indemnities: The agreement specifies any guarantees or indemnities provided by Unilab Corp's directors, shareholders, or affiliates. These provisions offer additional assurance to the lending institutions and protect their interests in case of default. 8. Amendment and Termination: The agreement outlines the conditions under which it can be modified, amended, or terminated by mutual consent of the parties involved. It may also include provisions for early termination due to specific events or by either party's notification. It's important to note that the specific terms and variations of the Maryland Credit Agreement may differ depending on the individual negotiations between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. Consultation with legal and financial professionals is recommended to ensure the accuracy and suitability of the agreement for these specific entities.

The Maryland Credit Agreement between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp is a comprehensive and legally binding contract that outlines the terms and conditions governing the extension of credit to Unilab Corp by the lending institutions. This agreement serves as a critical financial arrangement, facilitating access to capital for Unilab Corp's operations and growth initiatives. It establishes the rights, responsibilities, and obligations of the involved parties, ensuring transparency and clarity in the credit relationship. Key components of the Maryland Credit Agreement may include: 1. Loan Amount and Purpose: The agreement specifies the total amount of credit extended by the lending institutions to Unilab Corp, as well as the purpose for which the funds will be used. This could include working capital requirements, investments in research and development, or other business needs. 2. Interest Rates and Fees: The agreement outlines the interest rates, fees, and charges applicable to the credit facility. It details the basis for calculating interest, any fixed or variable interest rate provisions, and the frequency of interest payments. 3. Repayment Terms: The Maryland Credit Agreement delineates the repayment schedule, including the principal repayment timeline and any interest payment requirements. It may also specify provisions for early repayment, prepayment penalties, or refinancing options. 4. Security and Collateral: To secure the credit facility, the agreement defines the collateral provided by Unilab Corp to the lending institutions. This may include physical assets such as real estate, equipment, or inventory, or intangible assets like intellectual property or accounts receivable. 5. Events of Default and Remedies: The agreement lists the events that will trigger a default, such as non-payment, breach of covenants, or insolvency. It outlines the remedies available to the lending institutions in case of default, which may include acceleration of the debt, imposition of penalties, or the right to seize and sell collateral. 6. Covenants and Conditions: The Maryland Credit Agreement details any financial or non-financial covenants that Unilab Corp must comply with during the term of the credit facility. These could include maintaining certain financial ratios, providing audited financial statements, or obtaining the lenders' consent for significant business transactions. 7. Guarantees and Indemnities: The agreement specifies any guarantees or indemnities provided by Unilab Corp's directors, shareholders, or affiliates. These provisions offer additional assurance to the lending institutions and protect their interests in case of default. 8. Amendment and Termination: The agreement outlines the conditions under which it can be modified, amended, or terminated by mutual consent of the parties involved. It may also include provisions for early termination due to specific events or by either party's notification. It's important to note that the specific terms and variations of the Maryland Credit Agreement may differ depending on the individual negotiations between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. Consultation with legal and financial professionals is recommended to ensure the accuracy and suitability of the agreement for these specific entities.