New Jersey 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 New Jersey Credit Agreement between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp is a comprehensive financial arrangement that outlines the terms and conditions for credit facilities extended to Unilab Corp by multiple lending institutions. This credit agreement serves as a legally binding contract specifying the borrowing terms, repayment schedules, interest rates, and other crucial details governing the credit relationship between Unilab Corp and the lending institutions, namely Bankers Trust Co and Merrill Lynch Capital Corp. Key provisions of the New Jersey Credit Agreement typically include: 1. Loan amount: The agreement will state the total credit amount made available to Unilab Corp, which may be disbursed in multiple tranches depending on the specific requirements of the business. 2. Interest rates: The agreement will specify the interest rate charged by the lending institutions on the borrowed funds. These rates may be fixed or variable based on prevailing market conditions. 3. Repayment terms: Detailed repayment terms will be outlined, including the duration of the credit facility, the frequency of payments, and any special provisions such as balloon payments or the option to prepay. 4. Collateral and security: The agreement may require Unilab Corp to provide collateral or security, such as assets or accounts receivable, to secure the credit facility. This offers protection to the lending institutions in case of default. 5. Financial covenants: The credit agreement may set specific financial performance metrics that Unilab Corp must meet during the term of the credit facility. These may include maintaining certain financial ratios or meeting predetermined revenue or profitability targets. 6. Restrictive covenants: The agreement may impose restrictions on Unilab Corp's activities, such as limiting their ability to incur additional debt, make significant investments, or merge with other companies without prior consent from the lending institutions. Different types of New Jersey Credit Agreements between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp may include: 1. Revolving Credit Agreement: This type of credit facility allows Unilab Corp to repeatedly borrow funds up to a predetermined limit during a specified period. The borrower can repay and redraw the funds according to their needs. This offers flexibility and ensures ongoing access to credit. 2. Term Loan Agreement: Under this agreement, Unilab Corp receives a lump sum of funds for a fixed term with a predetermined repayment schedule. The interest rate may be fixed or variable, and the loan must be repaid within the agreed-upon timeframe. 3. Syndicated Credit Agreement: In this arrangement, multiple lending institutions, such as Bankers Trust Co and Merrill Lynch Capital Corp, collaborate to extend a larger credit facility to Unilab Corp. Each lender may contribute a portion of the overall credit amount, and the agreement will outline their respective roles and responsibilities. It is important for all parties involved in the New Jersey Credit Agreement to thoroughly understand its terms and comply with the obligations outlined. Failure to adhere to the agreement can result in penalties, legal disputes, or even default on the credit facility.

The New Jersey Credit Agreement between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp is a comprehensive financial arrangement that outlines the terms and conditions for credit facilities extended to Unilab Corp by multiple lending institutions. This credit agreement serves as a legally binding contract specifying the borrowing terms, repayment schedules, interest rates, and other crucial details governing the credit relationship between Unilab Corp and the lending institutions, namely Bankers Trust Co and Merrill Lynch Capital Corp. Key provisions of the New Jersey Credit Agreement typically include: 1. Loan amount: The agreement will state the total credit amount made available to Unilab Corp, which may be disbursed in multiple tranches depending on the specific requirements of the business. 2. Interest rates: The agreement will specify the interest rate charged by the lending institutions on the borrowed funds. These rates may be fixed or variable based on prevailing market conditions. 3. Repayment terms: Detailed repayment terms will be outlined, including the duration of the credit facility, the frequency of payments, and any special provisions such as balloon payments or the option to prepay. 4. Collateral and security: The agreement may require Unilab Corp to provide collateral or security, such as assets or accounts receivable, to secure the credit facility. This offers protection to the lending institutions in case of default. 5. Financial covenants: The credit agreement may set specific financial performance metrics that Unilab Corp must meet during the term of the credit facility. These may include maintaining certain financial ratios or meeting predetermined revenue or profitability targets. 6. Restrictive covenants: The agreement may impose restrictions on Unilab Corp's activities, such as limiting their ability to incur additional debt, make significant investments, or merge with other companies without prior consent from the lending institutions. Different types of New Jersey Credit Agreements between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp may include: 1. Revolving Credit Agreement: This type of credit facility allows Unilab Corp to repeatedly borrow funds up to a predetermined limit during a specified period. The borrower can repay and redraw the funds according to their needs. This offers flexibility and ensures ongoing access to credit. 2. Term Loan Agreement: Under this agreement, Unilab Corp receives a lump sum of funds for a fixed term with a predetermined repayment schedule. The interest rate may be fixed or variable, and the loan must be repaid within the agreed-upon timeframe. 3. Syndicated Credit Agreement: In this arrangement, multiple lending institutions, such as Bankers Trust Co and Merrill Lynch Capital Corp, collaborate to extend a larger credit facility to Unilab Corp. Each lender may contribute a portion of the overall credit amount, and the agreement will outline their respective roles and responsibilities. It is important for all parties involved in the New Jersey Credit Agreement to thoroughly understand its terms and comply with the obligations outlined. Failure to adhere to the agreement can result in penalties, legal disputes, or even default on the credit facility.