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

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Broward
• 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 Title: Broward Florida Credit Agreement: A Comprehensive Overview Keywords: Broward Florida, Credit Agreement, Unilab Corp, Lending Institutions, Bankers Trust Co, Merrill Lynch Capital Corp Introduction: The Broward Florida Credit Agreement is a legally binding contract between Unilab Corp and various lending institutions, namely Bankers Trust Co and Merrill Lynch Capital Corp. This comprehensive agreement outlines the terms, conditions, and provisions under which the lending facilities are extended to Unilab Corp in Broward County, Florida. Types of Broward Florida Credit Agreements: 1. Term Loan Agreement: The term loan agreement is a specific type of Broward Florida Credit Agreement that defines the terms and conditions for the lending of a fixed amount of money to Unilab Corp by the participating lending institutions. Borrowed funds are repaid over a predetermined period with agreed-upon interest rates and repayment terms. 2. Revolving Credit Agreement: The revolving credit agreement enables Unilab Corp to access a specified credit limit from the lending institutions in Broward Florida. This type of agreement allows Unilab to borrow, repay, and re-borrow funds as needed, providing flexibility in managing their working capital requirements and financial liquidity. 3. Security Agreement: The security agreement is an essential component of the Broward Florida Credit Agreement, providing collateral to the lending institutions for the funds extended to Unilab Corp. This agreement outlines the assets that Unilab Corp pledges as security, ensuring the repayment of the borrowed funds. These assets may include inventory, accounts receivable, equipment, or real estate properties. Key Elements of the Broward Florida Credit Agreement: 1. Loan Purpose: The agreement specifies the purpose for which the credit is granted, whether it is for refinancing existing debt, supporting expansion, funding acquisitions, or meeting other specific business requirements. 2. Loan Amount and Drawdown Procedures: The credit agreement outlines the maximum loan amount that Unilab can access and the specific procedures for drawing down funds. This ensures proper coordination between Unilab and the lending institutions. 3. Interest Rates and Repayment Terms: The agreement details the applicable interest rates, whether fixed or variable, and the duration of the loan. It also outlines the repayment terms, including the frequency of payments, principal amortization, and any balloon payment arrangements. 4. Financial Covenants: Financial covenants are included in the Broward Florida Credit Agreement to ensure that Unilab maintains certain financial ratios or performance metrics, such as debt-to-equity ratio, liquidity ratios, or operating income targets. Compliance with these covenants helps protect the lending institutions' interests. 5. Default and Remedies: The agreement specifies the events or circumstances that would constitute a default by Unilab, such as non-payment, breach of covenants, or bankruptcy. It also outlines the remedies available to the lending institutions in case of default, including acceleration of repayment or foreclosure on secured assets. Conclusion: The Broward Florida Credit Agreement between Unilab Corp, Various Lending Institutions (such as Bankers Trust Co and Merrill Lynch Capital Corp), encompasses various types of credit agreements, including term loans, revolving credit, and security agreements. It provides Unilab Corp with necessary funding, while setting out the terms, conditions, and obligations of all parties involved. This comprehensive agreement ensures financial stability for Unilab Corp while safeguarding the interests of the lending institutions.

Title: Broward Florida Credit Agreement: A Comprehensive Overview Keywords: Broward Florida, Credit Agreement, Unilab Corp, Lending Institutions, Bankers Trust Co, Merrill Lynch Capital Corp Introduction: The Broward Florida Credit Agreement is a legally binding contract between Unilab Corp and various lending institutions, namely Bankers Trust Co and Merrill Lynch Capital Corp. This comprehensive agreement outlines the terms, conditions, and provisions under which the lending facilities are extended to Unilab Corp in Broward County, Florida. Types of Broward Florida Credit Agreements: 1. Term Loan Agreement: The term loan agreement is a specific type of Broward Florida Credit Agreement that defines the terms and conditions for the lending of a fixed amount of money to Unilab Corp by the participating lending institutions. Borrowed funds are repaid over a predetermined period with agreed-upon interest rates and repayment terms. 2. Revolving Credit Agreement: The revolving credit agreement enables Unilab Corp to access a specified credit limit from the lending institutions in Broward Florida. This type of agreement allows Unilab to borrow, repay, and re-borrow funds as needed, providing flexibility in managing their working capital requirements and financial liquidity. 3. Security Agreement: The security agreement is an essential component of the Broward Florida Credit Agreement, providing collateral to the lending institutions for the funds extended to Unilab Corp. This agreement outlines the assets that Unilab Corp pledges as security, ensuring the repayment of the borrowed funds. These assets may include inventory, accounts receivable, equipment, or real estate properties. Key Elements of the Broward Florida Credit Agreement: 1. Loan Purpose: The agreement specifies the purpose for which the credit is granted, whether it is for refinancing existing debt, supporting expansion, funding acquisitions, or meeting other specific business requirements. 2. Loan Amount and Drawdown Procedures: The credit agreement outlines the maximum loan amount that Unilab can access and the specific procedures for drawing down funds. This ensures proper coordination between Unilab and the lending institutions. 3. Interest Rates and Repayment Terms: The agreement details the applicable interest rates, whether fixed or variable, and the duration of the loan. It also outlines the repayment terms, including the frequency of payments, principal amortization, and any balloon payment arrangements. 4. Financial Covenants: Financial covenants are included in the Broward Florida Credit Agreement to ensure that Unilab maintains certain financial ratios or performance metrics, such as debt-to-equity ratio, liquidity ratios, or operating income targets. Compliance with these covenants helps protect the lending institutions' interests. 5. Default and Remedies: The agreement specifies the events or circumstances that would constitute a default by Unilab, such as non-payment, breach of covenants, or bankruptcy. It also outlines the remedies available to the lending institutions in case of default, including acceleration of repayment or foreclosure on secured assets. Conclusion: The Broward Florida Credit Agreement between Unilab Corp, Various Lending Institutions (such as Bankers Trust Co and Merrill Lynch Capital Corp), encompasses various types of credit agreements, including term loans, revolving credit, and security agreements. It provides Unilab Corp with necessary funding, while setting out the terms, conditions, and obligations of all parties involved. This comprehensive agreement ensures financial stability for Unilab Corp while safeguarding the interests of the lending institutions.