South Carolina Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., Several Banks and Financial Institutions

• Category: Corporations - Public - Credit
• State: Multi-State
• Control #: US-EG-9414
• Format: Word; Rich Text

Description

Second Amended and Restated Credit Agreement among SBA Communications, Corporation, SBA Telecommunications, Inc., Several Banks and Other Financial Institutions or Entities, Lehman Brothers, Inc., General Electric Capital Corporation, Toronto Dominion, The South Carolina Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., Several Banks and Financial Institutions is a legally binding agreement that outlines the terms and conditions of credit provided by the banks and financial institutions to SBA Communications, Corp., and SBA Telecommunications, Inc. This agreement serves as a comprehensive document that updates and revises the previous credit agreement between the parties involved. It includes various provisions and clauses that govern the borrowing and lending process, setting forth the obligations and rights of each party. The key elements covered in the South Carolina Second Amended and Restated Credit Agreement include: 1. Parties Involved: The agreement specifically lists the participants, which include SBA Communications, Corp., and SBA Telecommunications, Inc. as the borrowers, and multiple banks and financial institutions as the lenders. The lenders may include national or local banks, financial organizations, or credit institutions. 2. Purpose of Credit: The agreement outlines the purpose for which the credit is being extended, such as financing ongoing operations, capital expenditures, acquisitions, or refinancing existing debt. It may also specify any restrictions on the use of funds. 3. Loan Amount and Terms: The agreement details the maximum loan amount available to the borrowers, as well as any borrowing base requirements. It also provides information on the repayment terms, including interest rates, maturity dates, and any applicable fees or penalties. 4. Security and Collateral: In order to secure the credit, the agreement may require the borrowers to provide collateral, such as real estate, equipment, inventory, or other assets. It outlines the rights and obligations of both the lenders and borrowers regarding the collateral. 5. Representations and Warranties: The agreement contains representations and warranties made by the borrowers, reassuring the lenders that the information provided is accurate and complete. It also specifies any ongoing reporting requirements that the borrowers must adhere to during the term of the credit facility. 6. Events of Default and Remedies: The agreement highlights various events that would be considered defaults, such as non-payment, breach of covenants, or insolvency. It outlines the rights and remedies available to the lenders in case of default, which may include acceleration of the debt, imposition of higher interest rates, or foreclosure on collateral. It's worth noting that while the South Carolina Second Amended and Restated Credit Agreement is a standard term used to describe this type of agreement, there may be other variations specific to different loan facilities or credit arrangements. These may include variations in the loan amount, term, or specific provisions tailored to the particular financial needs and circumstances of the borrowers and lenders involved.

The South Carolina Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., Several Banks and Financial Institutions is a legally binding agreement that outlines the terms and conditions of credit provided by the banks and financial institutions to SBA Communications, Corp., and SBA Telecommunications, Inc. This agreement serves as a comprehensive document that updates and revises the previous credit agreement between the parties involved. It includes various provisions and clauses that govern the borrowing and lending process, setting forth the obligations and rights of each party. The key elements covered in the South Carolina Second Amended and Restated Credit Agreement include: 1. Parties Involved: The agreement specifically lists the participants, which include SBA Communications, Corp., and SBA Telecommunications, Inc. as the borrowers, and multiple banks and financial institutions as the lenders. The lenders may include national or local banks, financial organizations, or credit institutions. 2. Purpose of Credit: The agreement outlines the purpose for which the credit is being extended, such as financing ongoing operations, capital expenditures, acquisitions, or refinancing existing debt. It may also specify any restrictions on the use of funds. 3. Loan Amount and Terms: The agreement details the maximum loan amount available to the borrowers, as well as any borrowing base requirements. It also provides information on the repayment terms, including interest rates, maturity dates, and any applicable fees or penalties. 4. Security and Collateral: In order to secure the credit, the agreement may require the borrowers to provide collateral, such as real estate, equipment, inventory, or other assets. It outlines the rights and obligations of both the lenders and borrowers regarding the collateral. 5. Representations and Warranties: The agreement contains representations and warranties made by the borrowers, reassuring the lenders that the information provided is accurate and complete. It also specifies any ongoing reporting requirements that the borrowers must adhere to during the term of the credit facility. 6. Events of Default and Remedies: The agreement highlights various events that would be considered defaults, such as non-payment, breach of covenants, or insolvency. It outlines the rights and remedies available to the lenders in case of default, which may include acceleration of the debt, imposition of higher interest rates, or foreclosure on collateral. It's worth noting that while the South Carolina Second Amended and Restated Credit Agreement is a standard term used to describe this type of agreement, there may be other variations specific to different loan facilities or credit arrangements. These may include variations in the loan amount, term, or specific provisions tailored to the particular financial needs and circumstances of the borrowers and lenders involved.