Utah 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 A Utah Credit Agreement is an important legal document that outlines the terms and conditions of a credit facility between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. This agreement serves as a vital tool in establishing a structured financial relationship and providing access to funds for Unilab Corp's business operations and expansion plans. The agreement typically consists of several key provisions, including but not limited to: 1. Parties involved: The agreement explicitly states the names and roles of all parties involved, namely Unilab Corp (as the borrower), Various Lending Institutions (as the lenders), Bankers Trust Co (as the administrative agent), and Merrill Lynch Capital Corp (as the syndication agent). 2. Purpose and scope: It defines the primary purpose of the credit facility, such as financing working capital, capital expenditures, acquisitions, or other specific business needs. Additionally, it establishes the scope of the agreement, including the maximum credit limit and any limitations or restrictions on the borrower's usage of funds. 3. Terms and conditions: This section covers various aspects of the credit facility, including interest rates, fees, and repayment terms. It may also outline any security interests or collateral requirements that the lenders may have over Unilab Corp's assets. 4. Representations and warranties: Both the borrower and the lenders make certain representations and warranties to ensure the accuracy of the information provided and the compliance with applicable laws and regulations. This helps establish a basis of trust and transparency between the parties involved. 5. Covenants: The agreement usually includes affirmative and negative covenants that impose certain obligations and restrictions on Unilab Corp. These may include financial reporting requirements, limitations on dividend payments or share repurchases, and restrictions on incurring additional debt or entering into significant transactions without lender consent. 6. Events of default: This section outlines the circumstances under which the agreement may be considered in default, such as non-payment of principal or interest, breach of covenants, or material adverse changes in the borrower's financial condition. It also highlights the available remedies for the lenders in case of default, such as acceleration of repayment or exercising their security interests. 7. Amendments and waivers: The agreement may provide a mechanism for the parties to amend or waive certain provisions under specific circumstances. It typically requires written consent from all parties involved to make any changes or waivers. There may be different types of Utah Credit Agreements between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp, based on factors such as the credit facility amount, duration, purpose, or specific terms negotiated between the parties. Examples include a long-term revolving credit agreement, a term loan agreement, or a short-term bridge loan agreement. In summary, a Utah Credit Agreement ensures a structured financial relationship between Unilab Corp and the lending institutions involved, providing essential funding for business operations and growth. It establishes the rights, obligations, and responsibilities of all parties involved, while also safeguarding the interests of the lenders through various provisions, covenants, and remedies in case of default.

A Utah Credit Agreement is an important legal document that outlines the terms and conditions of a credit facility between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. This agreement serves as a vital tool in establishing a structured financial relationship and providing access to funds for Unilab Corp's business operations and expansion plans. The agreement typically consists of several key provisions, including but not limited to: 1. Parties involved: The agreement explicitly states the names and roles of all parties involved, namely Unilab Corp (as the borrower), Various Lending Institutions (as the lenders), Bankers Trust Co (as the administrative agent), and Merrill Lynch Capital Corp (as the syndication agent). 2. Purpose and scope: It defines the primary purpose of the credit facility, such as financing working capital, capital expenditures, acquisitions, or other specific business needs. Additionally, it establishes the scope of the agreement, including the maximum credit limit and any limitations or restrictions on the borrower's usage of funds. 3. Terms and conditions: This section covers various aspects of the credit facility, including interest rates, fees, and repayment terms. It may also outline any security interests or collateral requirements that the lenders may have over Unilab Corp's assets. 4. Representations and warranties: Both the borrower and the lenders make certain representations and warranties to ensure the accuracy of the information provided and the compliance with applicable laws and regulations. This helps establish a basis of trust and transparency between the parties involved. 5. Covenants: The agreement usually includes affirmative and negative covenants that impose certain obligations and restrictions on Unilab Corp. These may include financial reporting requirements, limitations on dividend payments or share repurchases, and restrictions on incurring additional debt or entering into significant transactions without lender consent. 6. Events of default: This section outlines the circumstances under which the agreement may be considered in default, such as non-payment of principal or interest, breach of covenants, or material adverse changes in the borrower's financial condition. It also highlights the available remedies for the lenders in case of default, such as acceleration of repayment or exercising their security interests. 7. Amendments and waivers: The agreement may provide a mechanism for the parties to amend or waive certain provisions under specific circumstances. It typically requires written consent from all parties involved to make any changes or waivers. There may be different types of Utah Credit Agreements between Unilab Corp, Various Lending Institutions, Bankers Trust Co, and Merrill Lynch Capital Corp, based on factors such as the credit facility amount, duration, purpose, or specific terms negotiated between the parties. Examples include a long-term revolving credit agreement, a term loan agreement, or a short-term bridge loan agreement. In summary, a Utah Credit Agreement ensures a structured financial relationship between Unilab Corp and the lending institutions involved, providing essential funding for business operations and growth. It establishes the rights, obligations, and responsibilities of all parties involved, while also safeguarding the interests of the lenders through various provisions, covenants, and remedies in case of default.