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

• Category: Corporations - Public - Credit
• State: Multi-State
• County: Cook
• 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 Cook Illinois Credit Agreement is a legal contract established between Unilab Corp, various lending institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. This agreement outlines the terms and conditions for the provision of credit facilities to Unilab Corp by the lending institutions throughout the duration of the agreement. Key Terms and Provisions: 1. Borrower: Unilab Corp serves as the borrower, representing the entity seeking credit facilities. 2. Lending Institutions: Various lending institutions participate in this credit agreement, including but not limited to commercial banks, investment banks, and other financial institutions. 3. Lead Arrangers: Bankers Trust Co and Merrill Lynch Capital Corp act as the lead arrangers for the credit agreement, coordinating and facilitating the negotiation process. 4. Credit Facilities: This agreement establishes the type and amount of credit facilities that will be made available to Unilab Corp. These may include revolving credit lines, term loans, and other financial instruments. 5. Interest Rates: The credit agreement specifies the interest rates applicable to the borrowed funds, which may be fixed or variable based on industry benchmarks such as LIBOR. 6. Repayment Terms: The repayment terms outline the schedule and method by which Unilab Corp will repay the borrowed funds, including interest payments and principal repayments. 7. Security: The credit agreement may require Unilab Corp to provide collateral or security for the borrowed funds, which serves as a form of assurance for the lending institutions. 8. Covenants: The agreement may contain various covenants that Unilab Corp must adhere to, such as financial reporting obligations, limitations on additional borrowing, restrictions on asset disposals, and maintenance of certain financial ratios. 9. Syndication: In some cases, the credit agreement may involve syndication, wherein the lead arrangers transfer portions of the credit facilities to other participating lending institutions. 10. Amendments and Termination: The agreement may allow for amendments or modifications to its terms with the consent of all parties involved. It also outlines the circumstances under which the agreement can be terminated. Types of Cook Illinois Credit Agreement: 1. Revolving Credit Agreement: This type of credit agreement provides Unilab Corp with a revolving line of credit that can be drawn upon as needed, repaid, and redrawn during the term of the agreement. 2. Term Loan Agreement: This agreement provides Unilab Corp with a lump sum loan that is to be repaid over a fixed period of time, usually through regular installment payments. 3. Secured Credit Agreement: In this arrangement, Unilab Corp provides collateral to the lending institutions, reducing the risk for lenders and potentially allowing for more favorable interest rates or higher borrowing amounts. 4. Syndicated Credit Agreement: In syndicated credit agreements, multiple lenders, including the lead arrangers, provide credit facilities to Unilab Corp under the same terms and conditions, increasing the available borrowing capacity. Overall, the Cook Illinois Credit Agreement serves as a critical instrument that governs the relationship between Unilab Corp, the lending institutions, Bankers Trust Co, and Merrill Lynch Capital Corp, ensuring a transparent and mutually beneficial borrowing arrangement.

The Cook Illinois Credit Agreement is a legal contract established between Unilab Corp, various lending institutions, Bankers Trust Co, and Merrill Lynch Capital Corp. This agreement outlines the terms and conditions for the provision of credit facilities to Unilab Corp by the lending institutions throughout the duration of the agreement. Key Terms and Provisions: 1. Borrower: Unilab Corp serves as the borrower, representing the entity seeking credit facilities. 2. Lending Institutions: Various lending institutions participate in this credit agreement, including but not limited to commercial banks, investment banks, and other financial institutions. 3. Lead Arrangers: Bankers Trust Co and Merrill Lynch Capital Corp act as the lead arrangers for the credit agreement, coordinating and facilitating the negotiation process. 4. Credit Facilities: This agreement establishes the type and amount of credit facilities that will be made available to Unilab Corp. These may include revolving credit lines, term loans, and other financial instruments. 5. Interest Rates: The credit agreement specifies the interest rates applicable to the borrowed funds, which may be fixed or variable based on industry benchmarks such as LIBOR. 6. Repayment Terms: The repayment terms outline the schedule and method by which Unilab Corp will repay the borrowed funds, including interest payments and principal repayments. 7. Security: The credit agreement may require Unilab Corp to provide collateral or security for the borrowed funds, which serves as a form of assurance for the lending institutions. 8. Covenants: The agreement may contain various covenants that Unilab Corp must adhere to, such as financial reporting obligations, limitations on additional borrowing, restrictions on asset disposals, and maintenance of certain financial ratios. 9. Syndication: In some cases, the credit agreement may involve syndication, wherein the lead arrangers transfer portions of the credit facilities to other participating lending institutions. 10. Amendments and Termination: The agreement may allow for amendments or modifications to its terms with the consent of all parties involved. It also outlines the circumstances under which the agreement can be terminated. Types of Cook Illinois Credit Agreement: 1. Revolving Credit Agreement: This type of credit agreement provides Unilab Corp with a revolving line of credit that can be drawn upon as needed, repaid, and redrawn during the term of the agreement. 2. Term Loan Agreement: This agreement provides Unilab Corp with a lump sum loan that is to be repaid over a fixed period of time, usually through regular installment payments. 3. Secured Credit Agreement: In this arrangement, Unilab Corp provides collateral to the lending institutions, reducing the risk for lenders and potentially allowing for more favorable interest rates or higher borrowing amounts. 4. Syndicated Credit Agreement: In syndicated credit agreements, multiple lenders, including the lead arrangers, provide credit facilities to Unilab Corp under the same terms and conditions, increasing the available borrowing capacity. Overall, the Cook Illinois Credit Agreement serves as a critical instrument that governs the relationship between Unilab Corp, the lending institutions, Bankers Trust Co, and Merrill Lynch Capital Corp, ensuring a transparent and mutually beneficial borrowing arrangement.