AMOUNTS AND TERMS OF. THE ADVANCES 16 SECTION 2.01. The Revolving Credit Advances 16 SECTION 2.02. Making the Revolving Credit Advances and Swing Line Advances 17 SECTION 2.03. The Competitive Bid Advances 19 SECTION 2.04. Fees 23 SECTION 2.05. Optional Termination, Reduction, Increase or Extension of the Commitments 24 SECTION 2.06. Repayment 27 SECTION 2.07. Interest on Revolving Credit Advances and Swing Line Advances 27 SECTION 2.08. Interest Rate Determination 28 SECTION 2.09. Optional Conversion of Revolving Credit Advances 29 SECTION 2.10. Prepayments of Revolving Credit Advances and Swing Line Advances 29 SECTION 2.11. Increased Costs 30 SECTION 2.12. Illegality 31 SECTION 2.13. Payments and Computations 31 SECTION 2.14. Taxes 33 SECTION 2.15. Sharing of Payments, Etc. 35 SECTION 2.16. Evidence of Debt 35 SECTION 2.17. Use of Proceeds 36 SECTION 2.18. Letters of Credit 36 SECTION 2.19 Defaulting Lenders 40 ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING 42 SECTION 3.01. Conditions Precedent to Effectiveness of Sections 2.01, 2.03 and 2.18 42 SECTION 3.02. Conditions Precedent to the Initial Borrowing of Each Designated Subsidiary 43 SECTION 3.03. Conditions Precedent to Each Revolving Credit Borrowing, Swing Line Borrowing or Letter of Credit Issuance 44 SECTION 3.04. Conditions Precedent to Each Competitive Bid Borrowing 45 SECTION 3.05. Determinations Under Section 3.01 46 ARTICLE IV REPRESENTATIONS AND WARRANTIES 46 SECTION 4.01. Representations and Warranties of PPG 46 ARTICLE V COVENANTS OF THE BORROWERS 49 SECTION 5.01. Affirmative Covenants 49 SECTION 5.02. Negative Covenants 50 ARTICLE VI EVENTS OF DEFAULT 53 SECTION 6.01. Events of ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ SECTION 7.01. Guaranty 55 SECTION 7.02. Guaranty Absolute 55 SECTION 7.03. Waivers and Acknowledgments 56 SECTION 7.04. Subrogation 57 SECTION 7.05. Subordination 58 SECTION 7.06. Continuing Guaranty; Assignments 58 ARTICLE VIII THE ADMINISTRATIVE AGENT 59 SECTION 8.01. Authorization and Action 59 SECTION 8.02. Administrative Agent’s Reliance, Etc. 59 SECTION 8.03. JPMCB and Affiliates 60 SECTION 8.04. Lender Credit Decision 60 SECTION 8.05. Indemnification 60 SECTION 8.06. Successor Administrative Agent 60 SECTION 8.07. Other Agents 61 ARTICLE IX MISCELLANEOUS 61 SECTION 9.01. Amendments, Etc. 61 SECTION 9.02. Notices, Etc. 62 SECTION 9.03. No Waiver; Remedies 63 SECTION 9.04. Costs and Expenses 63 SECTION 9.05. Right of Set-off 64 SECTION 9.06. Binding Effect 64 SECTION 9.07. Assignments and Participations 65 SECTION 9.08. Confidentiality 68 SECTION 9.09. Governing Law 68 SECTION 9.10. Execution in Counterparts 68 SECTION 9.11. Judgment 68 SECTION 9.12. Jurisdiction, Etc. 69 SECTION 9.13. Substitution of Currency 70 SECTION 9.14. Designated Subsidiaries 70 SECTION 9.15. Waiver of Jury Trial 71 SECTION 9.16. USA PATRIOT ACT 71 SECTION 9.17. No Fiduciary Duty 71 Schedule I - List of Pre-Approved Designated Subsidiaries Exhibit A-1 - Form of Revolving Credit Note Exhibit A-2 - Form of Competitive Bid Note Exhibit B-1 - Form of Notice of Revolving Credit Borrowing Exhibit B-2 - Form of Notice of Competitive Bid Borrowing Exhibit B-3 - Form of Designation of Existing Letters of Credit Exhibit C - Form of Assignment and Acceptance Exhibit D - Form of Designation Letter Exhibit E-1 - Form of Opinion of Counsel for PPG Exhibit E-2 - Form of Opinion of K&L Gates LLP Exhibit E-3 - Form of Opinion of Special Counsel for a Designated Subsidiary PPG INDUSTRIES, INC., a Pennsylvania corporation (“PPG”), each Subsidiary of PPG who becomes a borrower hereunder pursuant to Section 9.14 (each, a “Borrower” and, collectively with PPG, the “Borrowers”) the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, JPMORGAN CHASE BANK, N.A. (“JPMCB”), as Administrative Agent for the Lenders, THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. (“BTMU”), BNP PARIBAS, CITIGROUP GLOBAL MARKETS INC. (“Citi”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as syndication agents, and ▇.▇. ▇▇▇▇▇▇ SECURITIES LLC, BTMU, BNP PARIBAS SECURITIES CORP., CITI and PNC CAPITAL MARKETS LLC, as co-lead arrangers and co-bookrunners, agree as follows:
Appears in 1 contract
AMOUNTS AND TERMS OF. THE ADVANCES 16 TERM LOAN 48 SECTION 2.01. The Revolving Credit Term Loan; Protective Advances 16 48 SECTION 2.02. Making Borrowing of the Revolving Credit Advances and Swing Line Advances 17 Term Loan 49 SECTION 2.03. The Competitive Bid Advances 19 [Intentionally Omitted] 50 SECTION 2.04. Fees 23 Prepayment Premium 50 SECTION 2.05. Optional Termination, Reduction, Increase or Extension Repayment of the Commitments 24 Loans; Amortization 50 SECTION 2.06. Repayment 27 Prepayments 50 SECTION 2.07. Interest on Revolving Credit Advances and Swing Line Advances 27 51 SECTION 2.08. Interest Rate Determination 28 Fees 51 SECTION 2.09. Optional Conversion of Revolving Credit Advances 29 [Intentionally Omitted] 51 SECTION 2.10. Prepayments of Revolving Credit Advances and Swing Line Advances 29 Increased Costs, Etc. 51 SECTION 2.11. Increased Costs 30 SECTION 2.12. Illegality 31 SECTION 2.13. Payments and Computations 31 54 SECTION 2.142.12. Taxes 33 56 SECTION 2.152.13. Sharing of Payments, Etc. 35 59 SECTION 2.14. Use of Proceeds 59 SECTION 2.15. [Intentionally Omitted] 60 SECTION 2.16. Evidence of Debt 35 60 SECTION 2.17. Use of Proceeds 36 SECTION 2.18. Letters of Credit 36 SECTION 2.19 Defaulting Lenders 40 Net Orderly Liquidation Value; Reserves and Eligibility Criteria 61 ARTICLE III CONDITIONS TO EFFECTIVENESS AND OF LENDING 42 61 SECTION 3.01. Conditions Precedent to Effectiveness Borrowing of Sections 2.01, 2.03 and 2.18 42 Term Loan 61 SECTION 3.02. Conditions Precedent to the Initial Borrowing of Each Designated Subsidiary 43 SECTION 3.03. Conditions Precedent to Each Revolving Credit Borrowing, Swing Line Borrowing or Letter of Credit Issuance 44 SECTION 3.04. Conditions Precedent to Each Competitive Bid Borrowing 45 SECTION 3.05. Determinations Under under Section 3.01 46 65 ARTICLE IV REPRESENTATIONS AND WARRANTIES 46 65 SECTION 4.01. Representations and Warranties of PPG 46 65 ARTICLE V COVENANTS OF THE BORROWERS 49 LOAN PARTIES 71 SECTION 5.01. Affirmative Covenants 49 71 SECTION 5.02. Negative Covenants 50 79 SECTION 5.03. Reporting Requirements 92 SECTION 5.04. Holding Company Status 99 ARTICLE VI EVENTS OF DEFAULT 53 99 SECTION 6.01. Events of ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ Default 99 ARTICLE VII THE AGENTS 103 SECTION 7.01. Guaranty 55 Authorization and Action 103 SECTION 7.02. Agents’ Reliance, Etc. 104 SECTION 7.03. Agents and Affiliates 105 SECTION 7.04. Lender Credit Decision 105 SECTION 7.05. Indemnification 106 SECTION 7.06. Successor Agents 106 SECTION 7.07. [Intentionally Omitted] 107 SECTION 7.08. Collateral and Guaranty Matters 107 SECTION 7.09. Notice of Transfer 108 SECTION 7.10. Reports and Financial Statements 108 SECTION 7.11. Agency for Perfection 108 ARTICLE VIII GUARANTY 109 SECTION 8.01. Guaranty; Limitation of Liability 109 SECTION 8.02. Guaranty Absolute 55 110 SECTION 7.038.03. Waivers and Acknowledgments 56 111 SECTION 7.048.04. Subrogation 57 111 SECTION 7.058.05. Guaranty Supplements 112 SECTION 8.06. Subordination 58 112 SECTION 7.068.07. Continuing Guaranty; Assignments 58 ARTICLE VIII THE ADMINISTRATIVE AGENT 59 SECTION 8.01. Authorization and Action 59 SECTION 8.02. Administrative Agent’s Reliance, Etc. 59 SECTION 8.03. JPMCB and Affiliates 60 SECTION 8.04. Lender Credit Decision 60 SECTION 8.05. Indemnification 60 SECTION 8.06. Successor Administrative Agent 60 SECTION 8.07. Other Agents 61 113 ARTICLE IX MISCELLANEOUS 61 113 SECTION 9.01. Amendments, Etc. 61 113 SECTION 9.02. Notices, Etc. 62 115 SECTION 9.03. No Waiver; Remedies 63 116 SECTION 9.04. Costs and Expenses 63 116 SECTION 9.05. Right of Set-off 64 117 SECTION 9.06. Binding Effect 64 118 SECTION 9.07. Assignments and Participations 65 118 SECTION 9.08. Confidentiality 68 Execution in Counterparts; Integration 121 SECTION 9.09. Governing Law 68 Intercreditor Agreements 121 SECTION 9.10. Execution in Counterparts 68 Confidentiality 122 SECTION 9.11. Judgment 68 Release of Collateral 123 SECTION 9.12. Replacement of Holdout Lender 123 SECTION 9.13. Patriot Act Notice, Etc. 123 SECTION 9.14. Jurisdiction, Etc. 69 SECTION 9.13. Substitution of Currency 70 SECTION 9.14. Designated Subsidiaries 70 124 SECTION 9.15. Governing Law 124 SECTION 9.16. Waiver of Jury Trial 71 SECTION 9.16. USA PATRIOT ACT 71 124 SECTION 9.17. No Fiduciary Duty 71 Schedule I - List [Intentionally Omitted] 125 SECTION 9.18. Keepwell 125 SECTION 9.19. [Intentionally Omitted] 125 SECTION 9.20. Acknowledgment and Consent to Bail-In of Pre-Approved Designated Subsidiaries Exhibit A-1 - Form of Revolving Credit Note Exhibit A-2 - Form of Competitive Bid Note Exhibit B-1 - Form of Notice of Revolving Credit Borrowing Exhibit B-2 - Form of Notice of Competitive Bid Borrowing Exhibit B-3 - Form of Designation of Existing Letters of Credit Exhibit C - Form of Assignment and Acceptance Exhibit D - Form of Designation Letter Exhibit E-1 - Form of Opinion of Counsel for PPG Exhibit E-2 - Form of Opinion of K&L Gates LLP Exhibit E-3 - Form of Opinion of Special Counsel for a Designated Subsidiary PPG INDUSTRIES, INC., a Pennsylvania corporation (“PPG”), each Subsidiary of PPG who becomes a borrower hereunder pursuant to Section 9.14 (each, a “Borrower” and, collectively with PPG, the “Borrowers”) the banks, financial institutions and other institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, JPMORGAN CHASE BANK, N.A. (“JPMCB”), as Administrative Agent for the Lenders, THE BANK OF TOKYO-MITSUBISHI UFJ, LTDAffected Financial Institutions 125 SECTION 9.21. (“BTMU”), BNP PARIBAS, CITIGROUP GLOBAL MARKETS INCAcknowledgment Regarding Any Supported QFCs 125 SECTION 9.22. (“Citi”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as syndication agents, and ▇.▇Severability 126 SECTION 9.23. ▇▇▇▇▇▇ SECURITIES LLC, BTMU, BNP PARIBAS SECURITIES CORP., CITI and PNC CAPITAL MARKETS LLC, as co-lead arrangers and co-bookrunners, agree as follows:Erroneous Payments 126
Appears in 1 contract