New York Amended and Restated Credit Agreement between ADAC Laboratories, various financial institution and ABN AMRO Bank

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9230
• Format: Word; Rich Text

Description

Amended and Restated Credit Agreement between ADAC Laboratories, various financial institution and ABN AMRO Bank, N.V. regarding the addition of a new person as a lender and to increase the amount available for borrowing dated March 29, 1999. 63 pages. The New York Amended and Restated Credit Agreement between ADAC Laboratories, various financial institutions, and ABN AFRO Bank is a legally binding document that outlines the terms and conditions under which ADAC Laboratories can borrow funds from the participating financial institutions with ABN AFRO Bank as the administrative agent. This agreement is crucial for financing ADAC Laboratories' operations and expansion plans and involves the following key elements: 1. Participants: The agreement involves multiple financial institutions, such as commercial banks, credit unions, and other lending entities, which collectively provide the credit facility to ADAC Laboratories. ABN AFRO Bank acts as the administrative agent, responsible for managing the agreement and coordinating activities among the participants. 2. Purpose: The agreement sets out the purpose for which ADAC Laboratories can utilize the borrowed funds, which may include working capital requirements, funding acquisitions or mergers, research and development initiatives, capital expenditures, or general corporate purposes. 3. Credit Facility: The New York Amended and Restated Credit Agreement defines the size of the credit facility, which represents the total amount that ADAC Laboratories can borrow. It may include both revolving credit and term loan components. A revolving credit facility allows ADAC Laboratories to borrow, repay, and re-borrow funds within a specified period, while a term loan facility offers funds for a fixed period. 4. Interest Rates and Fees: The agreement outlines the interest rates applicable to the borrowed funds and specifies the calculation method. It also includes information about commitment fees, upfront fees, and other charges associated with the credit facility. 5. Repayment Terms: The agreement prescribes the repayment schedule, repayment frequency, and installment amounts, ensuring ADAC Laboratories meets its financial obligations within the agreed timeframe. It may also include provisions related to prepayment options, early repayment penalties, and default interest rates. 6. Collateral and Guarantees: To secure the credit facility, ADAC Laboratories may be required to provide collateral assets or guarantees. Collateral can include real estate, equipment, inventory, or other valuable assets. Guarantees may involve personal or corporate guarantees from ADAC Laboratories' stakeholders or key personnel. 7. Representations and Warranties: The agreement includes representations and warranties provided by ADAC Laboratories, confirming the accuracy of its financial statements, legal compliance, absence of litigation or disputes, and other relevant matters. These representations and warranties ensure transparency and protect the interests of the lending institutions. 8. Covenants: The agreement lays out certain financial and non-financial covenants that ADAC Laboratories must adhere to during the term of the agreement. These may include maintaining certain financial ratios, restrictions on additional borrowings or acquisitions, and limitations on asset sales or liens. 9. Events of Default: The agreement specifies events that would constitute a default, such as failure to make timely payments, breaches of covenants, or bankruptcy filings. It outlines the consequences of default, including the rights of the lenders to accelerate repayment, demand additional collaterals, or take legal actions. 10. Amendments and Termination: The New York Amended and Restated Credit Agreement provides provisions for making amendments to the agreement with the consent of all parties involved. It also outlines circumstances under which the agreement can be terminated, such as repayment in full, expiration of the agreed term, or mutual agreement. Different types or versions of the New York Amended and Restated Credit Agreement may exist, depending on the specific requirements of ADAC Laboratories, the participating financial institutions, and ABN AFRO Bank. These may include agreements with different credit limits, interest rates, collateral arrangements, or term structures. Each version is tailored to suit the unique financial needs and circumstances of all involved parties.

The New York Amended and Restated Credit Agreement between ADAC Laboratories, various financial institutions, and ABN AFRO Bank is a legally binding document that outlines the terms and conditions under which ADAC Laboratories can borrow funds from the participating financial institutions with ABN AFRO Bank as the administrative agent. This agreement is crucial for financing ADAC Laboratories' operations and expansion plans and involves the following key elements: 1. Participants: The agreement involves multiple financial institutions, such as commercial banks, credit unions, and other lending entities, which collectively provide the credit facility to ADAC Laboratories. ABN AFRO Bank acts as the administrative agent, responsible for managing the agreement and coordinating activities among the participants. 2. Purpose: The agreement sets out the purpose for which ADAC Laboratories can utilize the borrowed funds, which may include working capital requirements, funding acquisitions or mergers, research and development initiatives, capital expenditures, or general corporate purposes. 3. Credit Facility: The New York Amended and Restated Credit Agreement defines the size of the credit facility, which represents the total amount that ADAC Laboratories can borrow. It may include both revolving credit and term loan components. A revolving credit facility allows ADAC Laboratories to borrow, repay, and re-borrow funds within a specified period, while a term loan facility offers funds for a fixed period. 4. Interest Rates and Fees: The agreement outlines the interest rates applicable to the borrowed funds and specifies the calculation method. It also includes information about commitment fees, upfront fees, and other charges associated with the credit facility. 5. Repayment Terms: The agreement prescribes the repayment schedule, repayment frequency, and installment amounts, ensuring ADAC Laboratories meets its financial obligations within the agreed timeframe. It may also include provisions related to prepayment options, early repayment penalties, and default interest rates. 6. Collateral and Guarantees: To secure the credit facility, ADAC Laboratories may be required to provide collateral assets or guarantees. Collateral can include real estate, equipment, inventory, or other valuable assets. Guarantees may involve personal or corporate guarantees from ADAC Laboratories' stakeholders or key personnel. 7. Representations and Warranties: The agreement includes representations and warranties provided by ADAC Laboratories, confirming the accuracy of its financial statements, legal compliance, absence of litigation or disputes, and other relevant matters. These representations and warranties ensure transparency and protect the interests of the lending institutions. 8. Covenants: The agreement lays out certain financial and non-financial covenants that ADAC Laboratories must adhere to during the term of the agreement. These may include maintaining certain financial ratios, restrictions on additional borrowings or acquisitions, and limitations on asset sales or liens. 9. Events of Default: The agreement specifies events that would constitute a default, such as failure to make timely payments, breaches of covenants, or bankruptcy filings. It outlines the consequences of default, including the rights of the lenders to accelerate repayment, demand additional collaterals, or take legal actions. 10. Amendments and Termination: The New York Amended and Restated Credit Agreement provides provisions for making amendments to the agreement with the consent of all parties involved. It also outlines circumstances under which the agreement can be terminated, such as repayment in full, expiration of the agreed term, or mutual agreement. Different types or versions of the New York Amended and Restated Credit Agreement may exist, depending on the specific requirements of ADAC Laboratories, the participating financial institutions, and ABN AFRO Bank. These may include agreements with different credit limits, interest rates, collateral arrangements, or term structures. Each version is tailored to suit the unique financial needs and circumstances of all involved parties.