Financing. Attached as Annex 5.2(e)(i) to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 3 contracts
Sources: Merger Agreement (McJunkin Red Man Corp), Merger Agreement (Goldman Sachs Group Inc), Merger Agreement (McJunkin Red Man Holding Corp)
Financing. Attached as Annex 5.2(e)(i) to the Parent Disclosure Letter is a true and complete copy As of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedParent has delivered to the Company true, complete and correct copies of the fully executed Commitment Letter and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees executed Fee Letter executed in connection with the Financing Commitments that are payable on (with only fee amounts, dates and certain other economic terms, including in respect of the “market flex” and “securities demand” provisions, redacted) (none of which would adversely affect the amount or prior to availability of the Financing other than through original issue discount). As of the date hereof, and the Financing Commitments are Commitment Letter is in full force and effect and are constitutes the legal, valid, binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge Knowledge of Parent, the other parties theretothereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity). As of the date hereof, the Commitment Letter and Fee Letter have not been amended or modified in any respect and, to the Knowledge of Parent, the commitments in the Commitment Letter have not been withdrawn or terminated. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing on the terms set forth in the Commitment Letter (as such terms may be altered in accordance with the “market flex” provisions set forth in the Fee Letter executed in connection with the Financing, ) other than as expressly set forth in or contemplated by the Financing CommitmentsCommitment Letter. No As of the date hereof, no event has occurred whichthat, with or without notice, lapse of time or both, would constitute a default on breach by Parent or, to the part Knowledge of Parent or Merger Sub Parent, any other party thereto under any the Commitment Letter. Subject to the terms and conditions of the Financing CommitmentsCommitment Letter, as of the date hereof, assuming satisfaction of the conditions set forth in Section 8.1 and Section 8.2, the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Commitment Letter, together with other financial resources of Parent, including its cash on hand and marketable securities, and cash on hand of the Company and its Subsidiaries, will, in the aggregate, be sufficient to fund the Cash Consideration, the cash payable to holders of Company RSU Awards, pursuant to Section 1.8, the payment of any debt required to be repaid, redeemed, retired, canceled, terminated or otherwise satisfied or discharged in connection with the Combination as of the date hereof (including all Indebtedness of the Company and its Subsidiaries required to be repaid, redeemed, retired, canceled, terminated or otherwise satisfied or discharged in connection with the Combination, including premiums and fees incurred in connection therewith (the “Required Indebtedness”)), and all other fees and expenses incurred by Parent, Merger Sub 1 and Merger Sub 2 in connection with the Combination and the other transactions contemplated hereby. Assuming the satisfaction of the conditions set forth in Sections 8.1 and 8.2, if the Closing were to occur on the date hereof, the incurrence of the indebtedness contemplated by the Commitment Letter to be incurred on the Closing Date, including the liens and guarantees provided in connection therewith as set forth in the Commitment Letter, and the consummation of the transactions contemplated by this Agreement would not result in a default or event of default under the Parent Existing Notes or the indenture governing the Parent Existing Notes. As of the date hereof, assuming satisfaction of the conditions set forth in Sections 8.1 and 8.2, Parent has no reason to believe that either it or any other party will be unable to satisfy on a timely basis any condition of the conditions to Financing under the Commitment Letter or any related Fee Letter or that the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing Commitment Letter will not be made available to Parent on the Closing Date. Subject to As of the terms date of this Agreement, other than the Commitment Letter and conditions contained in this Agreement Fee Letter, there are no other letters, agreements or understandings (other than customary non-disclosure agreements and diligence non-reliance letters) between Parent, on the one hand, and the Financing CommitmentsSources, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Dateother hand, funds sufficient to pay that could have an Adverse Effect on the cash portion of the aggregate Per Share Merger Consideration (Financing. Parent has fully paid all fees and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) expenses and any other amounts required to be paid in connection with on or prior to the consummation date of this Agreement pursuant to the transactions contemplated hereby, and to pay all related fees and expensesCommitment Letter.
Appears in 3 contracts
Sources: Merger Agreement, Merger Agreement (Centurylink, Inc), Merger Agreement (Level 3 Communications Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy fully-executed copies of a debt the commitment letter, other than dated as of January 23, 2011, by and among Parent, WF Investments Holdings, LLC, ▇▇▇▇▇ Fargo Bank, National Association, ▇▇▇▇▇ Fargo Securities, LLC, SunTrust Bank, SunTrust ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Inc., and Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland”, New York Branch, including all exhibits, schedules, annexes and amendments to such letter, in effect as of the date of this Agreement (the “Commitment Letter”), together with a redacted copy of the fee letter relating thereto (collectively, the “Debt Financing CommitmentFee Letter”). Pursuant to the Commitment Letter, pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinthereof, each of the parties thereto (other than Parent) have severally agreed and committed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached provision of such funds as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)) for the purposes set forth in such Commitment Letter. None of the Financing Commitments The Commitment Letter has not been amended amended, restated or otherwise modified or waived prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn withdrawn, modified or rescinded (and no party thereto indicated an intent to so withdraw, modify or rescind) in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date hereofof this Agreement. As of the date of this Agreement, and the Financing Commitments are Commitment Letter is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations obligation of Parenteach of Parent and, Merger Sub and to the knowledge of Parent, the other parties thereto, subject to applicable bankruptcy, insolvency, moratorium or other similar Laws relating to creditors’ rights and subject to general principles of equity. There As of the date of this Agreement, except for the Fee Letter and an engagement letter with respect to the Financing, there are no side letters or other contracts or arrangements related to the Financing other than the Commitment Letter. As of the date of this Agreement, there are no conditions precedent or other contingencies related relating to the funding of the full amount of the Financing, other than as expressly set forth in the Commitment Letter. The net proceeds contemplated from the Financing, together with cash on hand of Parent and Merger Sub on the Closing Date, will, in the aggregate, be sufficient for (i) the payment of the aggregate Cash Consideration and any other amounts required to be paid pursuant to Article II, the aggregate amount of cash to be deposited pursuant to Section 1.7(b) in respect of the Reserved Company Common Stock, and the aggregate amount of cash to be paid pursuant to the terms of Section 1.9 in respect of the Company RSU Awards, (ii) the funding of any required refinancings or contemplated repayments of any existing indebtedness of the Company or Parent in connection with the Merger or the Financing, and (iii) the payment of all fees and expenses and other payment obligations required to be paid or satisfied by Parent, Merger Sub and the Financing CommitmentsSurviving Entity in connection with the Merger and the Financing. No As of the date of this Agreement, (i) no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default) on the part of Parent under the Commitment Letter or, to the knowledge of Parent or Merger Sub, any other party to the Commitment Letter and (ii) Parent and Merger Sub under do not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing or any other funds necessary for the satisfaction of all of Parent’s obligations under this Agreement, the funding of any required refinancings or repayments of any existing indebtedness of the Company or Parent in connection with the Merger or the Financing and the payment of all fees and expenses reasonably expected to be incurred in connection therewith will not be made available to Parent and Merger Sub on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at fully paid all commitment fees or other fees required to be paid prior to the Closing, together with date of this Agreement pursuant to the available cash Commitment Letter. Each of Parent and Merger Sub understands that the Company and its Subsidiaries on obligations to effect the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt transactions contemplated by this Agreement or are not conditioned upon the availability of the Financing Commitments) to Parent and any other amounts required to be paid in connection with Merger Sub at the consummation of the transactions contemplated hereby, and to pay all related fees and expensesClosing.
Appears in 3 contracts
Sources: Merger Agreement (Rock-Tenn CO), Merger Agreement (SMURFIT-STONE CONTAINER Corp), Merger Agreement (Rock-Tenn CO)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true and complete copy of a debt commitment letterCompany, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fundtrue, L.P. complete and accurate copies of (i) an executed commitment letter and the Redacted Fee Letter, each dated the date hereof, among Parent, Merger Sub and the financial institutions party thereto, providing for the debt financing described therein (being collectively referred to as the “Senior Financing”) (the “Equity Senior Commitment Letters”) and (ii) an executed Series A Preferred Stock Purchase Agreement, dated the date hereof, between Parent and the investor party thereto, providing for the financing described therein (being collectively referred to as the “Preferred Financing”) (the “Financing CommitmentAgreement” and and, together with the Debt Financing CommitmentSenior Commitment Letters, the “Financing Commitments”). The Financing Commitments are in full force and effect as of the date hereof, pursuant to which the parties thereto have committedand are legal, subject valid and binding obligations of Parent, Merger Sub (with respect to the terms Senior Commitment Letter), and conditions set forth thereinto the Knowledge of Parent, to invest each of the amount set forth therein other parties thereto. As of the date hereof, (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None A) no amendment or modification of the Financing Commitments has been amended made or modified prior to the date of this Agreement, no such amendment or modification is contemplated, contemplated and (B) the respective commitments contained in the Financing Commitments have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent or Merger Sub has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof. As of the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There there are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in or expressly contemplated by the Financing Commitments (including any “market flex” provisions applicable to the Financing Commitments). No Assuming (x) the Financing is funded in accordance with the Financing Commitments and (y) the Company is not in breach of any of its representations, warranties, covenants or agreements contained in this Agreement such that the conditions to Closing set forth in Section 6.1 and Section 6.3 are not capable of being satisfied, the net proceeds contemplated from the financing described in the Financing Commitments (the “Financing”), together with cash on hand of the Company and its Subsidiaries on the Closing Date, will, in the aggregate, be sufficient for the satisfaction of all of Parent’s and Merger Sub’s obligations under this Agreement, including the payment of all amounts required to be paid pursuant to Article II and the payment of any debt required to be repaid, refinanced, redeemed, retired, cancelled, terminated or otherwise satisfied in connection with the Merger and of all fees, expenses and amounts required to be paid in connection with consummating the Merger and the Financing. As of the date of this Agreement, no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a default or breach on the part of Parent or Merger Sub or, to the Knowledge of Parent, any other party thereto, under any of the Financing Commitments, provided that Parent is not making any representation or warranty regarding the effect of any inaccuracy of the representations and as warranties in Article III or breach by the Company of any of its covenants hereunder. As of the date hereof of this Agreement, Parent has no does not have any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on or Merger Sub as of the Closing DateEffective Time, provided that Parent is not making any representation regarding the accuracy of the representations and warranties set forth in Article III, or compliance by the Company of its covenants hereunder. Subject As of the date of this Agreement, there are no side letters or other Contracts to which Parent or any of its Affiliates is a party related to the terms and conditions contained funding or investing, as applicable, of the full amount of the Financing other than (1) as expressly set forth in this Agreement and the Financing Commitments, Parent (2) any customary engagement letter(s) and Merger Sub will have at non-disclosure agreements(s), and (3) as do not impact the Closingconditionality, together with the available cash availability or aggregate amount of the Company and its Subsidiaries on Financing. Promptly following the Closing Datefunding thereof, funds sufficient to pay Parent will contribute the cash portion proceeds of the aggregate Per Share Preferred Financing to Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesSub.
Appears in 3 contracts
Sources: Merger Agreement (American Greetings Corp), Merger Agreement (American Greetings Corp), Merger Agreement (American Greetings Corp)
Financing. Attached as Annex 5.2(e)(i) Assuming the satisfaction of the conditions set forth in Section 7.01 and Section 7.02(b), Parent will have available to it at the Closing, sufficient cash, available lines of credit or other sources of immediately available funds to consummate the Merger and to pay the aggregate Merger Consideration to the Exchange Agent and any other amounts required to be paid by Parent Disclosure Letter in connection with the consummation of the transactions contemplated hereby to which it is a true party and complete copy to pay all related fees and expenses of a debt commitment letterParent and Merger Sub, other than including any repayment or refinancing of any outstanding indebtedness of Parent, the fee letter relating thereto Company, and their respective Subsidiaries contemplated by, or required in connection with the transactions described in, this Agreement or the Commitment Letter (collectivelysuch amounts, the “Debt Financing CommitmentMerger Amounts”), pursuant to which and there is no restriction on the lenders party thereto have agreeduse of such cash, subject available lines of credit or other sources of immediately available funds for such purposes. Parent has accepted and delivered to the terms Company a true, complete and conditions set forth thereincorrect copy, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy including all exhibits, schedules or amendments thereto, of the equity fully executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, L.P. Inc. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, Commitment Parties”) to Parent (the “Financing CommitmentsCommitment Letter”), pursuant to which the parties thereto Commitment Parties have committed, upon the terms and subject to the terms and conditions set forth therein, to invest the amount set forth therein (subject to any “market flex” provisions included in the fee letters dated the date hereof referred to therein (collectively, the “Equity FinancingFee Letter”), true and complete copies of each of which have been delivered to the Company redacted only with respect to fees, economic terms, pricing caps, “market flex” and together other provisions that are customarily redacted in connection with transactions of this type and that would not in any event adversely affect the Debt Financing Commitmentconditionality, enforceability, availability, termination or amount of the Financing), to provide the financing set forth in the Commitment Letter (the “Financing”). None The Financing, when funded in accordance with the Commitment Letter and giving effect to any “market flex” provision in or related to the Commitment Letter (including with respect to fees and original issue discount), shall provide Parent with cash proceeds on the Closing Date in an amount at least equal to the Merger Amounts As of the Financing Commitments date of this Agreement, the Commitment Letter has not been amended or modified in any manner prior to the date of this Agreement, no Agreement (nor is any such amendment or modification is contemplatedcontemplated except (i) to add additional commitment parties as expressly contemplated in the Commitment Letter or (ii) to include commitments with respect to a revolving credit facility (or an amendment of Parent’s existing revolving credit facility)), and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn withdrawn, terminated or rescinded in any respect. Neither Parent nor Merger Sub has entered into any agreement, side letter, contract or other understandings or arrangement relating to the Financing other than as set forth in the Commitment Letter and the Fee Letter or as permitted under Section 6.11. The Commitment Letter is in full force and effect and represents a valid, binding and enforceable obligation of Parent and, to the Knowledge of Parent and Merger Sub, a valid, binding and enforceable obligation of the Commitment Parties, to provide the financing contemplated thereby subject only to the satisfaction or waiver of the conditions precedent set forth in the Commitment Letter and, in each case, subject to the qualification that such enforceability may be limited by bankruptcy, insolvency, reorganization or other laws of general application relating to or affecting rights of creditors or by general principles of equity. Parent has fully paid (or caused to be paid) any and all commitment fees or and other fees in connection with the Financing Commitments amounts, if any, that are due and payable on or prior to the date hereofof this Agreement in connection with the Financing. As of the date of this Agreement, assuming the accuracy of the representations and warranties of the Company set forth in Article III such that the condition set forth in Section 7.02(a) is satisfied, the performance by the Company of its obligations under this Agreement such that the condition set forth in Section 7.02(b) is satisfied, and the Financing Commitments are satisfaction of the conditions set forth in full force Section 7.01, and effect and are assuming completion of the validMarketing Period, binding and enforceable obligations no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a breach or default on the part of Parent, or, to the Knowledge of Parent or Merger Sub, any other party thereto under the Commitment Letter. As of the date of this Agreement, assuming the accuracy of the representations and warranties set forth in Article III such that the condition set forth in Section 7.02(a) is satisfied, the performance by the Company of its obligations under this Agreement such that the condition set forth in Section 7.02(b) is satisfied, and the satisfaction of the conditions set forth in Section 7.01, and assuming completion of the Marketing Period, neither Parent nor Merger Sub and has any reason to believe that Parent will be unable to satisfy on a timely basis any of the conditions to the knowledge Financing to be satisfied pursuant to the Commitment Letter on or prior to the Closing Date, nor does Parent have Knowledge that any of Parent, the other parties theretoFinancing Sources will not perform its obligations thereunder. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingFinancing (including pursuant to any “market flex” provisions included in the Fee Letter), other than as the conditions precedent expressly set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default Commitment Letter delivered to the Company on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Datehereof. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at understand and acknowledge that under the Closingterms of this Agreement, together with Parent’s and Merger Sub’s obligations to consummate the available cash Merger are not in any way contingent upon or otherwise subject to Parent’s or Merger Sub’s consummation of the Company and its Subsidiaries on the Closing Dateany financing arrangements, funds sufficient to pay the cash portion Parent’s or Merger Sub’s obtaining of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement financing or the Financing Commitments) and availability, grant, provision or extension of any other amounts required financing to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesParent or Merger Sub.
Appears in 3 contracts
Sources: Merger Agreement (CMC Materials, Inc.), Merger Agreement (CMC Materials, Inc.), Merger Agreement (Entegris Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has made available to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of a debt (i) the executed commitment letter, other than dated March 26, 2018, among Parent (or its applicable Affiliate) and the fee letter relating financial institutions party thereto (including all exhibits, schedules and annexes thereto, collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreedcommitted, subject to the terms and conditions set forth therein, to lend the amounts set forth therein (the “Committed Financing”) for the purposes of financing of, among other things, funding the transactions contemplated by this Agreement Transactions and related fees and expenses and (ii) the executed fee letter associated therewith; provided, such fee letter may be redacted as described below (as so redacted, the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letterFee Letter” and, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “FinancingCommitment Papers”). None of the The Financing Commitments has Commitment Papers have not been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, Agreement and as of the date of this Agreement the respective commitments contained in the Financing Commitments Commitment have not been withdrawn or rescinded in any respect. Except for the Fee Letter (with only fee amounts and market flex provisions and other customary threshold amounts redacted; provided, that the market flex provisions in such Fee Letter may not permit the imposition of any new conditions (or the modification or expansion of any existing conditions) with respect to the availability of the Committed Financing or any reduction in the amount of the Committed Financing), certain “back-to-back” letters between Financing Sources and customary engagement letters with respect to the Committed Financing (none of which adversely affect, or impose additional conditions upon, the aggregate amount, enforceability or availability of the Committed Financing), as of the date hereof there are no side letters or Contracts or any other arrangements or understandings to which Parent is a party related to the funding or investing, as applicable, of the Committed Financing or the transactions contemplated hereby other than as expressly set forth in the Financing Commitment Papers delivered to the Company on or prior to the date hereof. Parent has fully paid any and all commitment fees or other fees required to be paid by it in connection with the Financing Commitments Commitment that are payable on or prior to the date hereof, Parent will, directly or indirectly, continue to pay in full any such amounts required to be paid as and when they become due and payable on or prior to the Charter Closing Date and as of the date hereof, each of the Financing Commitments are Commitment Papers is in full force and effect and are is the legal, valid, binding and enforceable obligations of ParentParent or its applicable Affiliate party thereto, Merger Sub as applicable, and to the knowledge Knowledge of Parent, each of the other parties thereto, except that (x) enforceability may be subject to the Enforceability Limitations and (y) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. There As of the date hereof, there are no conditions precedent or other contingencies related to the funding of the full amount of the Committed Financing, other than as expressly set forth in or contemplated by the Financing CommitmentsCommitment Papers delivered to the Company on or prior to the date hereof. No As of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach, or failure to satisfy a condition precedent to the availability of the Committed Financing, on the part of Parent or Merger Sub or, to the Knowledge of Parent, any other party thereto under any the Financing Commitment, in each case, under the terms of the Committed Financing, other than any such default, breach or failure that has been waived by the lenders or otherwise cured in a timely manner by Parent (or its Affiliate) to the satisfaction of the applicable Financing CommitmentsSources. Assuming (i) the accuracy of the representations and warranties set forth in Article III, (ii) the performance by the Company and its Subsidiaries of the covenants contained in this Agreement and (iii) the conditions set forth in Article VII are satisfied at the Charter Closing Date, as of the date hereof hereof, Parent has no reason to believe that any of the conditions to the availability of the Committed Financing contemplated by the Financing Commitments Commitment applicable to it will not be satisfied on the Charter Closing Date or that the Committed Financing will not be made available to Parent on the Charter Closing Date. Subject Parent affirms that it is not a condition to the terms Charter Closing, the Merger Closing and conditions contained in the Pre-Closing Dividend or any of its other obligations under this Agreement and that Parent obtain the Committed Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash or any other financing for or related to any of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesTransactions.
Appears in 3 contracts
Sources: Merger Agreement (Brookfield Property Partners L.P.), Merger Agreement (Brookfield Asset Management Inc.), Merger Agreement (GGP Inc.)
Financing. Attached as Annex 5.2(e)(i) Acquiror has delivered to the Parent Disclosure Letter is a Company and Seller true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy copies of the equity commitment letter, dated executed Commitment Letters in effect as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment and each fee letter associated with the Debt Financing (a “Debt Financing Fee Letter”) that contain any terms regarding the terms and conditions to funding or modification “market flex” provisions or other similar provisions (with all economic and non-conditionality terms being redacted). The Equity Financing Commitment Letter provides that Seller is contemplated, a third party beneficiary of the equity commitments and other terms contained therein. The Commitment Letters have not been withdrawn or rescinded and the respective commitments contained in the Financing Commitments Commitment Letters have not been withdrawn or rescinded in any respect. Parent As of the date of this Agreement, Acquiror has not entered into any Contract or other arrangement relating to the financing of the transactions contemplated by this Agreement, other than as set forth in the Commitment Letters and any executed Debt Financing Fee Letter. Subject to the terms and conditions of the Commitment Letters and this Agreement and assuming that all of Company’s and Seller’s representations and warranties in this Agreement are true and correct, the aggregate proceeds of the Financing (including after giving effect to the exercise of any or all “market flex” provisions related thereto) will be sufficient to consummate the transactions contemplated by this Agreement, including the making of the Closing Date Payment on the Closing Date and any fees and expenses otherwise payable by Acquiror. Assuming the due authorization, execution and delivery of the other parties thereto, the Commitment Letters are in full force and effect and represent a valid, binding and enforceable obligation of the financing sources named therein to provide the financing contemplated thereby subject only to the satisfaction or waiver of the conditions set forth therein; except as the enforceability thereof may be limited by (i) bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and (ii) general principles of equity (regardless of whether such enforcement is sought in a proceeding at law or in equity). Acquiror has fully paid (or caused to be paid) any and all commitment fees or and other fees in connection with amounts that are required by the Financing Commitments that and are due and payable on or prior to the date hereof, and the Financing Commitments are of this Agreement in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of connection with the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a breach or default on the part of Parent or Merger Sub Acquiror or, to the knowledge of Acquiror, any other party thereto under any of the Financing Commitments, and as Commitment Letters. There are no contractual conditions precedent related to the funding of the date hereof Parent has no reason to believe that any full amount of the Financing, other than the conditions to set forth in the Commitment Letters or any executed Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesFee Letter.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Pinafore Holdings B.V.), Stock Purchase Agreement (Gates Global Inc.), Stock Purchase Agreement (Pinafore Holdings B.V.)
Financing. Attached as Annex 5.2(e)(i) to Parent has provided the Parent Disclosure Letter is Company a true and complete copy copy, as of a debt the date hereof, of an executed commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”) from the financial institutions identified therein (the “Commitment Parties”), pursuant to which the lenders party thereto have agreedprovide, subject to the terms and conditions set forth therein, to lend debt financing in the amounts set forth therein for the purposes purpose of financing funding in part the transactions contemplated by this Agreement Cash Consideration and replacing and refinancing any credit facility or other Indebtedness of the Company, Parent or any of their respective Subsidiaries that will not continue after the Effective Time (the “Debt Financing”). Attached as Annex 5.2(e)(ii) The Debt Financing Commitment is valid, binding and, to the Knowledge of Parent, enforceable by Parent Disclosure Letter is a true against the other parties thereto in accordance with its terms, subject to the Bankruptcy and complete copy of the equity commitment letter, dated as Equity Exception. As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification Commitment is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the validrespective obligations and commitments therein have not been withdrawn, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretorescinded or terminated or otherwise amended or modified in any respect. There are no conditions precedent or other contingencies related to the funding As of the full amount of the Financingdate hereof, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, which (with or without notice, lapse of time time, or both, ) would reasonably be expected to constitute a breach in any material respect or default on the part of Parent or Merger Sub under or, to the Knowledge of Parent, any of the other parties to the Debt Financing CommitmentsCommitment. Subject to the satisfaction of the conditions contained in Section 7.01 and Section 7.03 hereof and the commencement and completion of the Marketing Period, and as of the date hereof hereof, Parent has no reason to believe that any of the conditions to in the Debt Financing contemplated by the Financing Commitments Commitment will not be satisfied satisfied, or that the Debt Financing will not be made available on a timely basis in order to consummate the Merger. As of the date hereof, no Commitment Party has notified Parent on of its intention to terminate any of the Closing DateDebt Financing Commitment or not to provide the Debt Financing. Subject to Assuming (i) the terms satisfaction of the conditions in Sections 7.01 and conditions contained 7.03 hereof and (ii) that the Debt Financing is funded in this Agreement and accordance with its terms, the Financing Commitments, Parent and Merger Sub will have at net proceeds from the ClosingDebt Financing, together with cash on hand, will be sufficient to fund the available cash Cash Consideration, the refinancing of any credit facility or other Indebtedness of the Company Company, Parent or any of their respective Subsidiaries that will not continue after the Effective Time, the payment of any fees and its Subsidiaries on the Closing Dateexpenses of or payable by Parent, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid by Parent in connection with the consummation of the transactions contemplated herebyMerger. Parent has paid in full any and all commitment or other fees required by the Debt Financing Commitment that are due as of the date hereof, and will pay, after the date hereof, all such fees as they become due. There are no side letters or other Contracts (except for any customary fee letters and/or engagement letters, true and complete copies of which have been provided to pay all related fees and expensesthe Company, with customary redactions (none of which redacted terms would reasonably be expected to adversely affect the principal amount or availability of the Debt Financing) relating to the Debt Financing to which Parent or any of its subsidiaries is a party other than as expressly set forth in the Debt Financing Commitment.
Appears in 3 contracts
Sources: Merger Agreement (Cincinnati Bell Inc), Merger Agreement (Hawaiian Telcom Holdco, Inc.), Merger Agreement (Cincinnati Bell Inc)
Financing. Attached as Annex 5.2(e)(i(a) At the Closing, Parent and Merger Sub will have immediately available funds sufficient to pay the aggregate Merger Consideration and any other payments contemplated by this Agreement and to pay all fees and expenses related to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectivelyFinancing, the Merger or any other transactions contemplated by this Agreement. True, complete and correct copies of the fully executed Purchase Agreement by and between HSS and Stanford International Bank Ltd., (“Debt Financing CommitmentSIBL”) dated as of the date of this Agreement (the “Purchase Agreement”), pursuant to which the lenders party thereto have SIBL has agreed, subject to the terms and conditions set forth thereinthereof, to lend provide to Parent and/or Merger Sub the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”), have been provided to the Company. None The Purchase Agreement is the only agreement that has been entered into by Parent or its Affiliates with respect to the Financing that contain conditions to the closing of the Financing Commitments Financing. Except to the extent permitted by Section 5.12(c), the Purchase Agreement has not been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and the respective commitments obligations contained in the Financing Commitments Purchase Agreement have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior Except to the date hereofextent permitted by Section 5.12(c), and the Financing Commitments are Purchase Agreement, in the form so delivered, is in full force and effect and are the validis a legal, valid and binding and enforceable obligations obligation of Parent, Parent and/or Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing CommitmentsSub. No event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or and/or Merger Sub under any term or condition of the Purchase Agreement. Parent and/or Merger Sub has fully paid any and all commitment fees or other fees incurred in connection with the Purchase Agreement that have become due and payable. In the event a New Purchase Agreement is entered into, references in this Agreement to the Purchase Agreement shall be deemed to be references to the New Purchase Agreement.
(b) Subject to its terms and conditions, the Financing, when funded in accordance with the Purchase Agreement, will provide funds at the Closing and at the Effective Time sufficient to consummate the Merger upon the terms contemplated by this Agreement and to pay all related fees and expenses associated therewith, including payment of all amounts under Article II of this Agreement. There are no conditions precedent or other contingencies to the funding of the full amount of the Financing Commitments, other than as set forth in the Purchase Agreement. Parent and as of the date hereof Parent has Merger Sub have no reason to believe that any of the conditions precedent to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained satisfied in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid full in connection with the consummation of the transactions contemplated hereby, and by this Agreement or that the Financing will not be available to pay all related fees and expensesParent and/or Merger Sub on the Closing Date.
Appears in 3 contracts
Sources: Merger Agreement (Emageon Inc), Merger Agreement (Health Systems Solutions Inc), Merger Agreement (Health Systems Solutions Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true Company complete and correct copies of executed commitment letters from ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank USA, together with related fee letters (with respect to such fee letters, complete copy of a debt commitment letter, other than copies with only the fee letter relating thereto amounts, interest rates, original issue discount, and economic and other “market flex” terms redacted, none of which redacted provisions would adversely affect the amount or availability of the Financing on the Closing Date) of which have been provided to the Company (collectively, the “Debt Financing CommitmentCommitments”), pursuant to which the lenders Financing Sources party thereto have agreedcommitted, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement Transactions and related Expenses (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt any Alternative Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitmentany capital markets debt or equity financing in replacement thereof or supplemental thereto, the “Financing”). None Subject to Parent’s rights with respect to Alternative Financing pursuant to and subject to the terms and conditions of Section 7.18, as of the date hereof, (i) none of the Financing Commitments has been amended or modified prior to as of the date of this Agreement, no such amendment or modification is contemplated, hereof in any material respect and (ii) the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respectmaterial respect (it being understood that the exercise of “market flex” provisions under any fee letter shall not be deemed an amendment, modification, withdrawal or rescission). Except for engagement letters with respect to the Financing, there are no side letters or contracts, agreements or understandings to which Parent, First Merger Sub or Second Merger Sub is a party related to the funding or investing, as applicable, of the Financing other than as expressly set forth in the Financing Commitments. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date of this Agreement. As of the date hereof, and the Financing Commitments are in full force and effect and are the legal, valid, binding and enforceable obligations of Parent, First Merger Sub and Second Merger Sub, as the case may be, and, to the knowledge of Parent, First Merger Sub and Second Merger Sub, each of the other parties thereto, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors’ rights and to general equity principles. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingFinancing Commitments, other than as expressly set forth in or contemplated by the Financing Commitments. No Assuming the accuracy of the representations and warranties of the Company set forth in this Agreement, compliance by the Company with the covenants set forth in this Agreement and the satisfaction of the conditions set forth in Article VIII, no event has occurred as of the date hereof which, with or without notice, lapse of time or both, would constitute constitute, or would reasonably be expected to constitute, a default or breach of the Financing Commitments on the part of Parent or Parent, First Merger Sub under or Second Merger Sub or, to the knowledge of Parent, First Merger Sub and Second Merger Sub, any other party thereto. Subject to the accuracy of the Financing Commitmentsrepresentations and warranties of the Company set forth in this Agreement and compliance by the Company with the covenants set forth in this Agreement, and as of the date hereof hereof, Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that satisfied. Assuming the Financing will not be made available to Parent on is funded in accordance with the Closing Date. Subject to Financing Commitments (and assuming the terms accuracy of the representations and conditions contained warranties of the Company set forth in this Agreement, compliance by the Company with the covenants set forth in this Agreement and the Financing Commitmentssatisfaction of the conditions set forth in Article VIII), Parent Parent, First Merger Sub and Second Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, Date sufficient funds sufficient to (i) pay the cash portion of the aggregate Per Share Merger Consideration Consideration; (ii) pay any and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts all Expenses required to be paid by Parent, First Merger Sub, Second Merger Sub, the Surviving Corporation and the Surviving Entity in connection with the consummation Mergers and the Financing; and (iii) satisfy all of the transactions other payment obligations of Parent, First Merger Sub, Second Merger Sub, the Surviving Corporation and the Surviving Entity contemplated hereby, and to pay all related fees and expenseshereunder.
Appears in 3 contracts
Sources: Merger Agreement (Grail, LLC), Merger Agreement (Grail, LLC), Merger Agreement (Illumina, Inc.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true Company an accurate and complete copy of a an executed debt commitment letterletter dated July 21, other than 2008, related term sheets and the fee letter relating thereto exhibits attached thereto, from Bank of America N.A. and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and certain of their respective affiliates (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreedwhich, subject to on the terms and subject to conditions set forth thereinof the Debt Commitment Letter, certain lenders have committed to lend provide Parent with loans in the amounts set forth therein for described in the purposes of financing the transactions contemplated by this Agreement Debt Commitment Letter (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy As of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedthe Debt Commitment Letter, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respectform so delivered, is a legal, valid and binding obligation of Parent and, to Parent’s Knowledge, the other parties thereto. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereofof this Agreement, and the Financing Commitments are Debt Commitment Letter is in full force and effect and has not been withdrawn or terminated or otherwise amended or modified in any material respect. As of the date of this Agreement, Parent is not in material breach of any of its covenants set forth in the Debt Commitment Letter. Parent has paid any and all commitment or other fees payable by it under the Debt Commitment Letter that are due as of the validdate of this Agreement. Except for side letters, binding agreements, arrangements or understandings that would not reasonably be expected to materially impair the validity of the Debt Commitment Letter or the ability of Parent to consummate the Merger or materially decrease the amount of financing expected to be provided under the Debt Commitment Letter, there are no side letters or other agreements, arrangements or understandings with any lender relating to the Debt Financing to which Parent, Merger Sub or any of their affiliates is a party as of the date of this Agreement. Subject to its terms and enforceable conditions, the Debt Financing, if and when funded in accordance with the Debt Commitment Letter, will, when taken together with funds (including funds on hand) otherwise available to Parent and, assuming the accuracy of the Company’s representations and warranties set forth in this Agreement and the Company’s compliance with its covenants and obligations set forth in this Agreement, funds (including funds on hand) otherwise available to the Acquired Corporations, provide Parent with financing on the Closing Date sufficient to pay all cash amounts required to be paid by Parent and Merger Sub under this Agreement in connection with the Merger, together with any fees and expenses of or payable by Parent, Merger Sub and the Surviving Corporation with respect to the knowledge Merger and the Debt Financing on the Closing Date. Assuming that the Debt Financing is funded in accordance with the terms of Parentthe Debt Financing Letter, and assuming the accuracy of the Company’s representations and warranties set forth in this Agreement and the Company’s compliance with its covenants and obligations set forth in this Agreement, neither Parent nor Merger Sub will require any additional debt or financing other than as contemplated by the Debt Commitment Letter to satisfy its obligations under this Agreement. As of the date of this Agreement, the other parties thereto. There are no conditions precedent or other contingencies related obligations of the lenders under the Debt Commitment Letter to make the Debt Financing available to Parent and Merger Sub pursuant to the funding terms of the full amount of the FinancingDebt Commitment Letter are not subject to any conditions, other than as those set forth in or contemplated by the Financing CommitmentsDebt Commitment Letter. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as As of the date hereof of this Agreement, assuming the accuracy of the Company’s representations and warranties set forth in this Agreement and the Company’s compliance with its covenants and obligations set forth in this Agreement, Parent (i) is not aware of any fact or occurrence that makes the Specified Representations (as that term is defined in Annex III to the Debt Commitment Letter) inaccurate in any material respect, (ii) has no reason to believe that it will be unable to comply on a timely basis with any covenant, or satisfy on a timely basis any condition, contained in the Debt Commitment Letter required to be complied with or satisfied by Parent or its affiliates, and (iii) has no reason to believe that any portion of the conditions Debt Financing required to consummate the Financing transactions contemplated by the Financing Commitments will not be satisfied or that the Financing hereby will not be made available to Parent or Merger Sub on the Closing Date. Subject to Sections 1.3, 8.1 and 8.3(f), in no event shall the terms and conditions contained in this Agreement and receipt of the Debt Financing Commitmentsby Parent, Parent and Merger Sub will have at the Closing, together with the available cash or any of their respective affiliates be a condition to any of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion obligations of the aggregate Per Share Parent or Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesSub hereunder.
Appears in 2 contracts
Sources: Merger Agreement (Foundry Networks Inc), Merger Agreement (Foundry Networks Inc)
Financing. Attached as Annex 5.2(e)(i) to the Parent Disclosure Letter is a true and complete copy of a debt commitment letterPurchaser has, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereofof this Agreement, from GS Capital Partners V Fund, L.P. committed financing (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None ) pursuant to an executed commitment letter (the “Commitment Letter”) to which an agreed version of the Financing Commitments has been amended an interim loan agreement is attached, and an executed fee letter, in each case dated on or modified prior to the date of this Agreement, no such amendment among one or modification is contemplated, more substantially wholly owned Affiliates controlled by Purchaser (the “Purchaser Financing Parties”) and the respective commitments contained Financing Sources, copies of which have been provided to Seller (with the fee letter redacted in a customary manner solely with respect to fee amounts and economic terms (and none of the redacted provisions would allow the Financing Sources to reduce the amount of funding to be provided under the Financing Documents or the conditions on which such funding is available)) (the “Financing Documents”), the proceeds of which shall be on-lent or otherwise transferred by the Purchaser Financing Parties to Purchaser or each substantially wholly owned Affiliate controlled by Purchaser that will purchase Purchased Assets at or prior to Closing in accordance with the terms of this Agreement (the “Purchasing Entities”), in each case pursuant to Section 4.18(b)(B) and the terms of one or more intercompany financing agreements. All conditions precedent to the funding (the “Financing Conditions Precedent”) are set forth in the Financing Commitments have not been withdrawn Documents, and at Closing Purchaser or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the applicable Purchasing Entities will (subject to satisfaction of the Financing Commitments that are payable on or prior Conditions Precedent) have the necessary cash resources to pay the Closing Purchase Price and meet all of Purchaser’s financial obligations under this Agreement and the Ancillary Agreements. As of the date hereofof this Agreement, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There (i) there are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, and (ii) there are no, and there are not contemplated to be any, agreements, side letters or arrangements relating to (a) the conditions precedent to the funding of the full amount of the Financing or (b) any reduction of the amount of the Financing, in each case other than as expressly set forth in or contemplated by the Financing CommitmentsDocuments. No None of the Financing Documents have been amended, restated or otherwise modified or waived prior to the execution and delivery of this Agreement, and the respective commitments contained therein have not been withdrawn, rescinded, amended, restated or otherwise modified in any respect prior to the execution and delivery of this Agreement. As of the date of this Agreement, each of the Financing Documents is in full force and effect and constitutes the legal, valid and binding obligations of the Purchaser Financing Parties (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity), and to the Knowledge of Purchaser, each of the other parties thereto, and enforceable against the Purchaser Financing Parties, and, to the Knowledge of Purchaser, each of the other parties thereto, in accordance with its terms. As of the date of this Agreement, no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default) or prevent any of the Financing Conditions Precedent from being satisfied, in each case on the part of Parent or Merger Sub the Purchaser Financing Parties, or, to the Knowledge of Purchaser, any other parties thereto, under the Financing Documents. As of the date of this Agreement, Purchaser does not have any reason to believe that (x) any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Conditions Precedent will not be satisfied satisfied, or that (y) the Financing will not be made available to Parent any of Purchaser, the Purchaser Financing Parties and the Purchasing Entities at Closing. Purchaser has fully paid, or caused to be fully paid, all commitment fees and other fees to the extent required to be paid on or prior to the date of this Agreement in connection with the Financing. Except as permitted by Section 4.18, Purchaser shall not agree, nor shall it allow any of its Affiliates or Representatives to agree, to amend the terms of, or waive any term of or right under, any of the Financing Documents and shall not take any action or omit to take any action, and shall cause its Affiliates and Representatives not to take any action or omit to take any action, which would impair or restrict its ability to enforce its rights or the rights of the Purchaser Financing Parties thereunder in any manner. Notwithstanding anything in this Agreement to the contrary, Purchaser acknowledges and agrees that the obtaining of the Financing is not a condition to Closing or the consummation of the Transaction, and that, irrespective and independently of the availability of the Financing, Purchaser shall be obligated to pay the Closing Date. Subject to the terms Purchase Price and conditions contained in meet all its financial obligations under this Agreement and the Financing CommitmentsAncillary Agreements, Parent and Merger Sub will have at subject only to the Closing, together with the available cash satisfaction or waiver of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid conditions set forth in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesArticle VII.
Appears in 2 contracts
Sources: Equity and Asset Purchase Agreement (Ardagh Finance Holdings S.A.), Equity and Asset Purchase Agreement (Ball Corp)
Financing. Attached as Annex 5.2(e)(i) As of the date of this Agreement, P▇▇▇▇▇ has delivered to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is Company a true and complete copy of the equity commitment letterexecuted Debt Commitment Letter and the Debt Fee Letters, dated as which Debt Fee Letters have been redacted for fees, pricing terms, “market flex” provisions (if any) and other terms that are customarily redacted (including any dates related thereto), none of which would reasonably be expected to reduce the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with aggregate principal amount of the Debt Financing Commitment, to be funded on the “Financing Commitments”), pursuant to which the parties thereto have committed, subject Closing Date or impose additional conditions precedent to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with funding of the Debt Financing Commitment, on the “Financing”)Closing Date. None of the Financing Commitments The Debt Commitment Letter has not been amended or modified in any manner prior to the date of this Agreement. As of the date of this Agreement, no such amendment neither Parent nor any of its Affiliates has entered into any agreement, side letter or modification is contemplatedother commitment or arrangement relating to the financing of the transactions contemplated by this Agreement, including the Offer and the respective Merger, that imposes conditions precedent to the funding of the Debt Financing on the Closing Date or would otherwise affect the availability of the Debt Financing on the Closing Date, in each case, other than the Debt Commitment Letter and the Debt Fee Letters or any customary engagement letters or non-disclosure agreements which do not impact the conditionality or amount of the Debt Financing and that, in the case of such customary engagement letters, copies of which (that may include customary redactions) have been delivered to the Parent as of the date hereof. Assuming satisfaction of the Offer Conditions and that the Debt Financing is funded on the Closing Date in accordance with the Debt Commitment Letter, as of the date of this Agreement, the aggregate proceeds of the Debt Financing (both before and after giving effect to the exercise of any or all “market flex” provisions (if any) related thereto), together with any cash on hand, available lines of credit (including under Borrower’s existing revolving credit and securitization facilities) and other sources of immediately available funds of Parent, will be sufficient to finance (i) the payment of the aggregate Per Share Price, the Company PSU Consideration and Company RSA Consideration to which holders of Company Common Stock, Company PSUs and Single-Trigger RSAs will be entitled at the Effective Time pursuant to this Agreement and (ii) the payment of all fees and expenses, in the case of each of clauses (i) and (ii), to the extent required to be paid by Parent or Merger Sub on the Closing Date in connection with consummation of the transactions contemplated by this Agreement, including the Offer, the Merger, repaying all principal, interest and fees outstanding under the Company Credit Agreement and the Redemption and/or Discharge (the minimum amount sufficient to finance such payments, the “Required Amount”). As of the date of this Agreement, the commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn or rescinded in any respect. As of the date of this Agreement, the Debt Commitment Letter is in full force and effect and represent valid, binding and enforceable obligations (subject to the Enforceability Limitations) of Parent and, to the Knowledge of Parent, each other party thereto to provide the financing contemplated thereby subject only to the satisfaction or waiver of the Financing Conditions. Parent has fully paid (or caused to be paid) any and all commitment fees or other fees in connection with the Financing Commitments that are due and payable on or prior to the date hereofof this Agreement in connection with the Debt Financing. Assuming performance by the Company and its Affiliates of their respective obligations under this Agreement, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding as of the full amount date of the Financingthis Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would constitute a breach or default on the part of Parent or Merger Sub or, to the Knowledge of Parent, any other party thereto under any term of the Financing CommitmentsDebt Commitment Letter. As of the date of this Agreement, and P▇▇▇▇▇ has no reason to believe that it or any other party thereto will be unable to satisfy on a timely basis any term of the Debt Commitment Letter. Assuming satisfaction of the Offer Conditions, as of the date hereof of this Agreement, Parent has no reason to believe that (i) any of the conditions to the Financing contemplated by the Financing Commitments Conditions will not be satisfied or that (ii) the Debt Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at expressly agree and acknowledge that their obligations hereunder, including P▇▇▇▇▇’s and Merger Sub’s obligations to consummate the ClosingOffer and the Merger, together with the available cash are not subject to, or conditioned on, Parent’s or Merger Sub’s consummation of the Company and its Subsidiaries on the Closing Dateany financing arrangements, funds sufficient to pay the cash portion Parent’s or Merger Sub’s obtaining of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement financing or the Financing Commitments) and availability, grant, provision or extension of any other amounts required financing to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesParent or Merger.
Appears in 2 contracts
Sources: Merger Agreement (United Rentals, Inc.), Merger Agreement (United Rentals North America Inc)
Financing. Attached as Annex 5.2(e)(i(i) The Buyer will have available to it at the Parent Disclosure Letter is a true Closing all funds necessary for its payment of the Closing Merger Consideration in accordance with this Agreement and complete copy of a debt commitment letter, for all other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant actions necessary for Buyer to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing consummate the transactions contemplated by in this Agreement Agreement. The Buyer understands that its obligations to consummate the transactions
(ii) Buyer has delivered to the Company a true, complete and correct copy of (i) an executed debt commitment letter from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and Barclays Bank PLC (the “Debt FinancingCommitment Letter”). Attached as Annex 5.2(e)(ii) and (ii) each related fee letter (with customary redactions only with respect to fee amounts and the Parent Disclosure Letter is a true and complete copy economic terms of the equity commitment letter“market flex” provisions and nothing which would affect the amount or availability of the Financing), dated in each case of the foregoing clauses (i) and (ii), in effect as of the date hereofhereof (such Debt Commitment Letter and related fee letters, from GS Capital Partners V Fundas they may be amended, L.P. (the “Equity Financing Commitment” and together modified or replaced in accordance with the Debt Financing CommitmentSection 4.9, collectively, the “Financing Commitments”), pursuant which establish commitments to which the parties thereto have committed, provide debt financing in an aggregate amount set forth therein and subject only to the terms and conditions set forth therein, to invest the amount set forth therein (such debt financing described in the “Equity Financing” and together with the Debt Financing CommitmentCommitments of such aggregate amount described therein, the “Financing”). None .
(iii) As of the date hereof, none of the Financing Commitments has have been amended or modified prior to the date of this Agreement, and no such amendment or modification to the Financing Commitments is contemplated; provided that, and for purposes of the foregoing, the existence or exercise of the “flex” provisions contained in one or more fee letters with respect to the Financing Commitments shall not constitute an amendment or modification of the Financing Commitments. The respective commitments contained in the Financing Commitments have not been terminated, reduced, withdrawn or rescinded in any respectrespect and, other than any replacement of the Financing Commitments permitted pursuant to Section 4.9, no such termination, reduction, withdrawal or rescission is contemplated. Parent There are no side letters or other contracts or arrangements related to the funding of the Financing other than as expressly set forth in the Financing Commitments delivered to the Company pursuant to this Section 3.2(e). The Buyer has fully paid any and all commitment fees or other fees fees, amounts or expenses in connection with the Financing Commitments that are payable on or prior to the date hereof, hereof and the Buyer is unaware of any fact or occurrence existing on the date hereof that would reasonably be expected to cause any of the assumptions or any of the statements set forth in the Financing Commitments to be ineffective or inaccurate. The Financing Commitments are in full force and effect and the obligations set forth therein (including, for the avoidance of doubt, the obligation to provide the Financing upon satisfaction or waiver of the Limited Financing Conditions) are the legal, valid, binding and enforceable obligations of Parentthe Buyer and, Merger Sub and to the knowledge Buyer’s Knowledge, each of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount (or any portion) of the Financing, including any condition relating to the availability of the Financing pursuant to any “flex” provision, other than as expressly set forth in or contemplated by the Debt Commitment Letter (such conditions, the “Limited Financing CommitmentsConditions”). No event has occurred which, with or without notice, lapse of time or both, would constitutes or could reasonably be expected to constitute a default or breach on the part of Parent or Merger Sub the Buyer or, to the Buyer’s Knowledge, any other party thereto under any of the Financing Commitments, and as of the date hereof Parent . The Buyer has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied on a timely basis or that the Financing will not be made available to Parent the Buyer on the Closing Date. Subject or prior to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with and the available cash Buyer is not aware of the Company and its Subsidiaries existence of any current or anticipated fact or event as of the date hereof that would reasonably be expected to cause such conditions to funding not be satisfied on a timely basis or the Closing Datenot to occur. The Buyer has not incurred any obligation, commitment, restriction or other liability of any kind, and is not contemplating or aware of any obligation, commitment, restriction or other liability of any kind, in either case which could reasonably be expected to impair or adversely affect the resources, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated capabilities addressed by this Agreement or Section 3.2(e) (including the Financing Commitments) Commitments and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesFinancing).
Appears in 2 contracts
Sources: Merger Agreement (Zayo Group LLC), Merger Agreement (Zayo Group LLC)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy copies, as of a the date of this Agreement, of an executed debt financing commitment letterletter and the related fee letter (provided, other than that provisions in the fee letter relating thereto related to fees, pricing, economic “flex” terms, “securities demand”, thresholds, caps and other items not affecting conditionality have been redacted) from the financial institutions identified therein (collectivelyas the same may be amended, supplemented or otherwise modified or replaced as contemplated herein, the “Debt Financing CommitmentCommitment Letter”), pursuant ) to which the lenders party thereto have agreedprovide, subject to the terms and conditions set forth therein, to lend debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(b) to the Parent Disclosure The Debt Commitment Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has not been amended or modified prior to the date hereof (other than amendments or modifications that are expressly permitted by Section 6.14(c)), and, as of this Agreementthe date hereof, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn or rescinded rescinded. Assuming the Debt Financing is funded in any respect. accordance with the Debt Commitment Letter, the aggregate proceeds contemplated by the Debt Commitment Letter will, together with Parent’s immediately available and unrestricted cash, be sufficient when funded for Parent has fully and the Surviving Corporation to consummate the Merger and the other transactions contemplated by this Agreement, including without limitation, to pay the aggregate Merger Consideration to be paid any to the holders of shares of Common Stock, the aggregate Preferred Share Merger Consideration to be paid to the holders of shares of Series A Convertible Preferred Stock, and the aggregate consideration to be paid to holders of Options and Restricted Shares as a result of the Merger, and all commitment fees and expenses related to the Merger and the other transactions contemplated by this Agreement. The Debt Commitment Letter is not subject to any conditions precedent or other fees in connection with the Financing Commitments that are payable on or prior to contingencies other than as set forth therein and, as of the date hereof, and is the Financing Commitments are in full force and effect and are the legal, valid, binding and enforceable obligations of Parent and Sub and, insofar as is known to Parent, Merger Sub and to the knowledge each of Parent, the other parties thereto. There are no conditions precedent or All commitments and other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid under the Debt Commitment Letter prior to the date hereof have been paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesfull.
Appears in 2 contracts
Sources: Merger Agreement (NetSpend Holdings, Inc.), Merger Agreement (Total System Services Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has available cash resources and financing in an amount sufficient to enable Purchaser to purchase Company Shares pursuant to the Parent Disclosure Letter is Offer and to consummate the Merger. Without limiting the foregoing: (a) Purchaser has delivered to the Company a true and complete copy of a debt an executed commitment letterletter dated March 24, other than the fee letter relating thereto 2007 from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and CitiGroup Global Market, Inc. (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the lender parties thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest lend the amount amounts set forth therein for the purpose of funding the consideration payable by Parent and the Purchaser in respect of the Company Shares and Company Options (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment : (i) the Debt Commitment Letter has not been amended or modification is contemplated, modified; and (ii) none of the respective commitments contained in the Financing Commitments have not Debt Commitment Letter has been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding by such lenders of the full amount of the Debt Financing, other than as set forth in or contemplated by the Financing CommitmentsDebt Commitment Letter. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as As of the date hereof Parent has no reason to believe that any of this Agreement, and assuming the accuracy of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained Company’s representations set forth in this Agreement and the Company’s compliance with its covenants set forth in this Agreement, in each case such that the conditions to the Debt Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement the Debt Commitment Letter are satisfied, neither Parent nor Purchaser has any reason to believe that it will be unable to satisfy on a timely basis any term or the Financing Commitments) and any other amounts required condition to be paid satisfied by it contained in the Debt Commitment Letter. Parent or Purchaser will fully pay any and all commitment fees that are incurred and are due and payable in connection with the consummation of the transactions contemplated hereby, Debt Financing as and to pay all related fees and expenseswhen they become payable.
Appears in 2 contracts
Sources: Merger Agreement (Beckman Coulter Inc), Merger Agreement (Biosite Inc)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is a true party to and complete copy has accepted a fully executed commitment letter dated as of a debt commitment letterAugust 10, other than 2023 (together with all exhibits and schedules thereto, the fee letter relating “Debt Commitment Letter”) from the lenders party thereto (collectively, the “Debt Financing CommitmentLenders”), ) pursuant to which the lenders party thereto Lenders have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide debt financing in the amounts set forth therein for therein. The debt financing contemplated pursuant to the purposes of financing the transactions contemplated by Debt Commitment Letter is collectively referred to in this Agreement (as the “Debt Financing.”). Attached as Annex 5.2(e)(ii
(b) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of the equity commitment letterexecuted Debt Commitment Letter and fee letters related thereto, dated as subject, in the case of such fee letters, to redaction solely of fee amounts, the rates and amounts included in the “market flex” and other economic provisions that are customarily redacted in connection with transactions of this type and that could not in any event affect the conditionality, enforceability, availability, termination or amount of the date hereofDebt Financing.
(c) Except as expressly set forth in the Debt Commitment Letter, from GS Capital Partners V Fund, L.P. (there are no conditions precedent to the “Equity Financing Commitment” and together with obligations of the Lenders to provide the full amount of the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto Debt Commitment Letter. Parent does not have committed, subject any reason to the believe that it will be unable to satisfy on a timely basis all terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with be satisfied by it in any of the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable Commitment Letter on or prior to the date hereofClosing Date, nor does Parent have Knowledge that any Lender will not perform its obligations thereunder, in each case, assuming the accuracy of the Company’s representations and warranties contained in Article III and compliance by the Company with its covenants contained in Article V and Article VI, in each case, in all material respects. There are no side letters, understandings or other Contracts of any kind relating to the Debt Commitment Letter or the Debt Financing that could adversely affect the conditionality, enforceability, availability, termination or amount of the Debt Financing.
(d) The Debt Financing, when funded in accordance with the Debt Commitment Letter and giving effect to any “flex” provision in or related to the Debt Commitment Letter (including with respect to fees and original issue discount), and assuming the accuracy of the Company’s representations and warranties contained in Article III and compliance by the Company with its covenants contained in Article V and Article VI, in each case, in all material respects, together with cash on hand at Parent, shall provide Parent with cash proceeds on the Closing Date sufficient for the satisfaction of all of Parent’s obligations under this Agreement and the Debt Commitment Letter, including the payment of the Merger Consideration, and any fees and expenses of or payable by Parent or Merger Sub or the other Parent Subsidiaries, and for any repayment or refinancing of any outstanding indebtedness of the Company and/or the Company Subsidiaries contemplated by, or required in connection with the transactions described in, this Agreement or the Debt Commitment Letter (such amounts, collectively, the “Financing Commitments are in full force and effect and are Amounts”).
(e) The Debt Commitment Letter constitutes the legal, valid, binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge Knowledge of Parent, all the other parties thereto. There thereto and are no conditions precedent in full force and effect, subject to (a) the effect of bankruptcy, fraudulent conveyance, reorganization, moratorium and other similar Laws relating to or other contingencies related to affecting the funding enforcement of the full amount of the Financing, other than as set forth creditors’ rights generally and (b) general equitable principles (whether considered in an Action in equity or contemplated by the Financing Commitmentsat law). No event has occurred which, which (with or without notice, lapse of time or both, ) would reasonably be expected to constitute a default on default, breach or failure to satisfy a condition by Parent under the part of Parent or Merger Sub under any terms and conditions of the Financing Commitments, and as of the date hereof Debt Commitment Letter. Parent has no does not have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied by Parent on a timely basis or that the Debt Financing will not be made available to Parent on the Closing Date. Subject to , assuming the terms accuracy of the Company's representations and conditions warranties contained in this Agreement Article III and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of compliance by the Company with its covenants contained in Article V and its Subsidiaries on the Closing DateArticle VI, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (in each case, in all material respects. Parent has paid in full any and any repayment all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with pursuant to the consummation terms of the Debt Commitment Letter on or before the entry into this Agreement. The Debt Commitment Letter has not been modified, amended or altered prior to the execution and delivery of this Agreement and none of the respective commitments under the Debt Commitment Letter have been terminated, reduced, withdrawn or rescinded in any respect.
(f) In no event shall the receipt or availability of any funds or financing (including the Debt Financing) by Parent or any Parent Subsidiaries or any other financing or other transactions contemplated hereby, and be a condition to pay all related fees and expensesany of the Parent or Merger Sub’s obligations under this Agreement.
Appears in 2 contracts
Sources: Merger Agreement, Merger Agreement (Tapestry, Inc.)
Financing. Attached as Annex 5.2(e)(i(a) The Buyer Parties shall use their commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary to arrange the Debt Refinancing on the terms and conditions described in the Refinancing Commitment Letter, including using their commercially reasonable efforts to (i) maintain in effect the Refinancing Commitment Letter; (ii) satisfy on a timely basis all conditions applicable to the Parent Disclosure Buyer Parties to obtaining the Debt Refinancing as set forth in the Refinancing Commitment Letter is a true that are within its control; (iii) negotiate and complete copy of a debt commitment letterenter into definitive agreements with respect thereto on the terms and conditions (including, other than the fee letter relating thereto (collectivelyif necessary, the “Debt Financing Commitment”), pursuant flex provisions) contemplated by the Refinancing Commitment Letter or on other terms no less favorable to which Buyer; (iv) comply with the lenders party thereto have agreed, Buyer’s obligations under the Refinancing Commitment Letter and the definitive agreements with respect thereto; (v) subject to the terms and conditions set forth thereincontemplated in the Refinancing Commitment Letter, to lend consummate the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) Refinancing at or prior to the Parent Disclosure Letter is a true Effective Time; and complete copy (vi) enforce its rights under the Refinancing Commitment Letter. If any portion of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to Refinancing becomes unavailable on the terms and conditions set forth therein(including the flex provisions) contemplated in the Refinancing Commitment Letter or the definitive agreements with respect thereto, the Buyer Parties shall promptly notify the MLP Parties and use their commercially reasonable efforts to invest the amount set forth therein (the “Equity Financing” and together with amend, modify, supplement, alter, restate, substitute or replace the Debt Financing CommitmentRefinancing with other alternative financing, on terms no less favorable to Buyer, as promptly as possible; provided, however, that the Buyer Parties shall not permit any amendment, modification, supplement, alteration, restatement, substitution or replacement of the Refinancing Commitment Letter or the Debt Refinancing on terms that are less favorable to Buyer, without the prior consent of the MLP Parties, such consent not to be unreasonably withheld, delayed or conditioned. In such event, the term “Financing”)Refinancing Commitment Letter” as used herein shall be deemed to include the amended, modified, supplemented, altered, restated, substituted or replacement, commitment letter. None The Buyer Parties shall promptly (and in any event within two Business Days) notify the MLP Parties: (A) of any default or breach by any party to the Refinancing Commitment Letter or definitive documents related to the Debt Refinancing of which the Buyer Parties are aware; (B) of the Financing Commitments has been amended or modified prior receipt of any written notice from any party to the date Refinancing Commitment Letter with respect to (1) any default, breach, termination or repudiation by any party to the Refinancing Commitment Letter or definitive documents related to the Debt Refinancing or (2) any material dispute or disagreement between or among parties to the Refinancing Commitment Letter or definitive documents related to the Debt Refinancing of this Agreementwhich the Buyer Parties become aware; and (C) if for any reason the Buyer Parties determine in good faith that they will not be able to obtain all or any portion of the Debt Refinancing on the terms, in the manner or from the sources contemplated by the Refinancing Commitment Letters. The Buyer Parties shall keep the MLP Parties informed on a reasonably current basis of the status of their efforts to arrange the Debt Refinancing and provide copies of all draft and executed documents related to the Debt Refinancing to the MLP Parties. In the event that the Buyer Parties are unable to obtain the Debt Refinancing or alternative financing on terms no such less favorable to Buyer, the Buyer Parties will obtain an amendment or modification is contemplatedto the Buyer Credit Agreement so that the Buyer will be permitted thereunder to, and will have sufficient funds available thereunder to, refinance the respective commitments contained in MLP Credit Agreements at the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid Closing; provided, however, that the Buyer Parties shall be permitted to pay any and all commitment fees or other fees to the lenders and administrative agent in connection with any such amendment without the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding consent of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesMLP Parties.
Appears in 2 contracts
Sources: Merger Agreement (Inergy L P), Merger Agreement (Inergy Midstream, L.P.)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is a true party to and complete copy of has accepted a debt fully executed commitment letterletter dated November 5, other than the fee letter relating thereto 2021 (collectivelytogether with all exhibits and schedules thereto, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders Financing Entities party thereto have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide debt financing in the amounts set forth therein for therein. The debt financing committed pursuant to the purposes of financing the transactions contemplated by Commitment Letter is collectively referred to in this Agreement (as the “Debt Financing”). Attached as Annex 5.2(e)(ii) .” Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of the equity commitment letterfully executed Commitment Letter.
(b) Except as expressly set forth in the Commitment Letter, dated there are no conditions precedent to the obligations of the Financing Entities to provide the Financing or any contingencies that could permit the Financing Entities to reduce the total amount of the Financing, including any condition or other contingency relating to the amount of availability of the Financing pursuant to any “flex” provision. Assuming satisfaction or waiver (to the extent permitted by applicable Law) of the conditions in Section 7.1 and Section 7.2, as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant Parent does not have any reason to which the parties thereto have committed, subject believe that it will be unable to the satisfy on a timely basis all material terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained be satisfied by it in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable Commitment Letter on or prior to the date hereofClosing Date or that the Financing will not be available to Parent on the Closing Date, nor does Parent have knowledge that any of the Financing Entities will not perform its obligations thereunder. There are no side letters, understandings or other agreements, contracts or arrangements of any kind relating to the Commitment Letter that could affect the availability, conditionality, enforceability, termination or amount of the Financing.
(c) The Financing, when funded in accordance with the Commitment Letter and giving effect to any “flex” provision in or related to the Commitment Letter (including with respect to fees and original issue discount), shall provide Parent with cash proceeds on the Closing Date sufficient for the satisfaction of all of Parent’s and Merger Sub’s obligations under this Agreement and under the Commitment Letter, including the payment of the Merger Consideration and any fees and expenses of or payable by Parent or Merger Sub pursuant to the terms of this Agreement and the Financing Commitments are in full force Commitment Letter and effect to prepay, repay, refinance or satisfy and are discharge all outstanding indebtedness of the Company and the Company Subsidiaries that is required pursuant to its terms to be prepaid, repaid, refinanced or satisfied and discharged at the Closing (such amounts, collectively, the “Merger Amounts”).
(d) The Commitment Letter constitutes a legal, valid, binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties theretoparty thereto and is in full force and effect subject to Bankruptcy and Equity Exceptions. There are no conditions precedent or other contingencies related to To the funding knowledge of Parent, as of the full amount of the Financingdate hereof, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time time, or both, would constitute constitutes, or could reasonably be expected to constitute, a default default, breach or a failure to satisfy a condition precedent on the part of Parent or Merger Sub under any the terms and conditions of the Financing CommitmentsCommitment Letter. Parent or an Affiliate thereof on its behalf has paid in full any and all commitment fees and other fees required to be paid pursuant to the terms of the Commitment Letter on or before the date of this Agreement, and will pay in full any such amounts due after the date of this Agreement as and when due. The Commitment Letter has not been materially modified, amended or altered as of the date hereof Parent has no reason to believe that any of hereof; the conditions to the Financing contemplated by the Financing Commitments Commitment Letter will not be satisfied amended, modified or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have altered at any time through the Closing, together except as permitted by Section 6.20 (with any such amendment, modification or alteration promptly notified in writing to the available cash Company); and, as of the Company and its Subsidiaries on date hereof, the Closing Datecommitment under the Commitment Letter has not been terminated, reduced, withdrawn or rescinded in any respect, and, to the knowledge of Parent, no termination, reduction, withdrawal or rescission thereof is contemplated.
(e) In no event shall the receipt or availability of any funds sufficient to pay or financing (including, for the cash portion avoidance of doubt, the aggregate Per Share Merger Consideration (and Financing) by Parent or any repayment Affiliate or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required financing or other transactions be a condition to be paid in connection with the consummation any of the transactions contemplated hereby, and to pay all related fees and expensesParent’s obligations under this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Industrial Logistics Properties Trust), Merger Agreement (Monmouth Real Estate Investment Corp)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt (i) fully executed commitment letter, other than the fee letter relating thereto letters (collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant ) from Silicon Valley Bank and Apollo Investment Corporation confirming their respective commitments to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of provide Parent with debt financing in connection with the transactions contemplated by this Agreement hereby (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is and (ii) a true and complete copy of the equity fully executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. letter (the “Equity Financing CommitmentCommitment Letter” and together with the Debt Financing CommitmentCommitment Letters, the “Financing CommitmentsCommitment Letters”), pursuant to which ) from each of the parties thereto have committed, subject listed on Annex II hereto confirming the respective counterparties’ commitments to provide Parent with equity financing in connection with the terms and conditions set forth therein, to invest the amount set forth therein transactions contemplated hereby (the “Equity Financing” and together with the Debt Financing CommitmentFinancing, the “Financing”).
(b) The Equity Commitment Letter (i) is in full force and effect and is a valid, legal and binding obligation of Parent and the other parties thereto and (ii) is enforceable in accordance with its respective terms against Parent and the other parties thereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity). None Each of the Financing Commitments has been amended or modified prior Debt Commitment Letters (i) is in full force and effect and is a valid, legal and binding obligation of Parent and, to the date knowledge of this AgreementParent, no such amendment or modification the other parties thereto and (ii) is contemplatedenforceable in accordance with their respective terms against Parent and to the knowledge of Parent, the other parties thereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respectother laws affecting creditors’ rights generally and general principles of equity). Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments Commitment Letters that are payable on or prior to the date hereof. As of the date hereof, none of the Financing Commitment Letters have been amended or modified in any respect, no such amendment or modification is contemplated and the Financing Commitments are respective obligations and commitments contained therein have not been withdrawn, rescinded or otherwise modified in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretoany respect. There are no conditions precedent or other contingencies related to the funding As of the full amount of the Financingdate hereof, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would constitute a default or material breach on the part of Parent or Merger Sub under any Financing Commitment Letter or, to the knowledge of Parent, any other parties thereto. There are no conditions precedent to the funding of the full amount of the Financing, other than the conditions precedent set forth in the Financing CommitmentsCommitment Letters, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments it will not be able to satisfy any term or condition of closing of the Financing that is required to be satisfied as a condition of the Financing, or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement of the Financing Commitment Letters and the Financing CommitmentsRollover Agreements, Parent and Merger Sub will have at the Closing, together with the available cash aggregate proceeds of the Company and its Subsidiaries on the Closing Date, funds Financings are in an amount sufficient to pay consummate the cash portion of Merger upon the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt terms contemplated by this Agreement or (assuming contribution of the Financing Commitments) and Rollover Shares to Parent pursuant to the terms of the Rollover Agreements), to pay any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, by this Agreement and to pay all related fees and expenses. There are no side letters or other agreements, arrangements or understandings relating to the Financing Commitment Letters.
Appears in 2 contracts
Sources: Merger Agreement (ChyronHego Corp), Merger Agreement (ChyronHego Corp)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt (i) an executed commitment letterletter dated as of the date hereof (the “Commitment Letter” and, together with the Fee Letter (as defined below), as they may be amended, modified or replaced in accordance with Section 5.2 and together with all annexes, exhibits, schedules and other than the fee letter relating thereto (collectivelyattachments thereto, the “Debt Financing CommitmentCommitments”), ) pursuant to which the lenders party lender parties thereto have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide or cause to be provided the debt amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (such amounts, the “Debt Financing”) and (ii) any fee letters related to the Debt Financing (with only fee amounts, dates, pricing caps, “market flex” and other economic terms redacted, none of which would adversely affect the amount, conditionality, termination or availability of the Debt Financing) (collectively, the “Fee Letter”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereofof this Agreement, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with none of the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and the respective commitments contained in the Debt Financing Commitments have not been withdrawn or rescinded and, to the knowledge of Parent, no withdrawal or rescission thereof is contemplated as of the date of this Agreement. As of the date of this Agreement, the Debt Financing Commitments are in full force and effect and constitute the legal, valid and binding obligation of Parent and, to the knowledge of Parent, the other parties thereto (except to the extent that enforceability may be limited by the applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws affecting the enforcement of creditors’ rights generally or by general principles of equity). There are no conditions precedent related to the funding of the full amount of the Debt Financing other than as expressly set forth in the Debt Financing Commitments. As of the date of this Agreement, no event has occurred that (with or without notice or lapse of time, or both) would constitute a breach or default under the Debt Financing Commitments by Parent or Merger Sub or, to the knowledge of Parent, any respectother party to the Debt Financing Commitments. As of the date of this Agreement, assuming the satisfaction of the conditions contained in Section 6.1 and Section 6.3, Parent has no reason to believe that it will be unable to satisfy on a timely basis any term or condition to be satisfied by it and contained in the Debt Financing Commitments. Parent has fully paid any and all commitment fees or other fees in connection with required by the terms of the Debt Financing Commitments that are payable to be paid on or prior to before the date hereof, and of this Agreement. Assuming the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any satisfaction of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or contained in Section 6.1 and Section 6.3 and that the Debt Financing will not be made available to Parent on the Closing Date. Subject to is funded in accordance with the terms and conditions contained in this Agreement and of the Financing CommitmentsCommitment Letter, Parent and Merger Sub will have have, at the ClosingEffective Time, together with sufficient cash, available lines of credit or other sources of immediately available funds to consummate the available cash Merger and the other transactions contemplated hereby, including payment of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other all amounts required to be paid in connection with the consummation of the transactions contemplated herebypursuant to Article II, and to pay all related fees and expenses. In no event shall the receipt or availability of any funds or financing, including under the Debt Financing Commitments, by Parent or Merger Sub or any Affiliate thereof be a condition to any of Parent’s or Merger Sub’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (MKS Instruments Inc), Merger Agreement (Electro Scientific Industries Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt commitment letter, other than (i) the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fundby and among Parent and the financial institutions party thereto including all exhibits, L.P. schedules and annexes to such letter in effect as of the execution and delivery of this Agreement and (ii) the “Equity Financing Commitment” and together with the Debt Financing Commitmentexecuted fee letters related thereto (together, the “Financing Commitments”), pursuant to which the parties thereto have committedDebt Commitment Letter,” and, subject to the terms and conditions last sentence of Section 7.13(c), the provision of funds as set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”) (it being understood that such fee letters have been redacted to remove fees, the rates and amounts in the “market flex,” if any, and other economic terms that would not adversely affect the amount, conditionality, availability or termination of the Financing). None As of the Financing Commitments has been amended or modified prior to the date execution and delivery of this Agreement, other than the Debt Commitment Letter, there are no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees side letters or other fees in connection with the Financing Commitments written agreements, contracts or arrangements that are payable on impose conditions or prior other contingencies related to the date hereoffunding of the full amount of the Financing. As of the execution and delivery of this Agreement, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There there are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in the Debt Commitment Letter. The commitments contained in the Debt Commitment Letter have not been withdrawn or contemplated rescinded in any respect prior to the date of this Agreement. As of the execution and delivery of this Agreement, the Debt Commitment Letter represents (A) a valid, binding and enforceable obligation of Parent and (B) to the Knowledge of Parent, a valid, binding and enforceable obligation of each other party thereto, in the case of each of clauses (A) and (B), except as may be limited by the Financing CommitmentsEnforceability Limitations. No As of the execution and delivery of this Agreement, (1) the Debt Commitment Letter has not been amended, restated, supplemented or otherwise modified, or compliance with any of the terms waived and (2) no commitment under the Debt Commitment Letter has been withdrawn, terminated or rescinded in any respect. Parent or the Parent Subsidiaries have fully paid (or caused to be paid) any and all commitment fees and other amounts that are required to be paid pursuant to the terms of the Debt Commitment Letter on or prior to the execution and delivery of this Agreement, and will fully pay (or cause to be paid) any such amounts due at or before the Effective Time. As of the execution and delivery of this Agreement, no event has occurred occurred, which, with or without notice, lapse of time or both, would reasonably be expected to (x) constitute a breach or default on the part of Parent or, to the Knowledge of Parent, any other party to the Debt Commitment Letter, (y) to the Knowledge of Parent, provide a basis for termination of the Debt Commitment Letter by any other party thereto, or Merger Sub under (z) result in a failure of any condition to the funding of the full amount of the Financing Commitments, and as or otherwise result in any portion of the date hereof Financing being unavailable at the Effective Time. Assuming satisfaction of the conditions set forth in Section 8.1 and Section 8.2, Parent has no reason to believe that any of the conditions to funding set forth in the Financing contemplated by the Financing Commitments Debt Commitment Letter will not be satisfied or satisfied, nor does Parent have knowledge, as of the execution and delivery of this Agreement, that the Financing will not be made available to Parent on the Closing Date. Subject to Date in accordance with the terms of the Debt Commitment Letter.
(b) Assuming the accuracy of the representations and conditions contained warranties set forth in Article IV and the Company’s compliance with its obligations in this Agreement Agreement, the proceeds of the Financing, if funded, together with any available cash of Parent, the Company and the Financing Commitmentstheir respective Subsidiaries, shall constitute sufficient funds for Parent and Merger Sub will have to (i) make all cash payments contemplated to be made by them under this Agreement at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation Merger (including the repayment or prepayment of the transactions contemplated herebyobligations under the Company Credit Agreement in an amount up to the obligations (other than obligations which, by the terms of the Company Credit Agreement (and any related loan documents), survive termination thereof) outstanding thereunder as of the date hereof plus any additional amounts permitted to be incurred thereunder after the date hereof in accordance with the terms of this Agreement) and (ii) pay all related fees and expensesexpenses required to be paid by them on the Closing Date (the “Financing Amounts”).
Appears in 2 contracts
Sources: Merger Agreement (Sterling Check Corp.), Merger Agreement (First Advantage Corp)
Financing. Attached as Annex 5.2(e)(i(a) The Buyer has delivered to the Parent Seller and the Company (i) executed commitment letters dated as of the date hereof from the parties listed in Section 5.07 of the Buyer Disclosure Letter is a true Schedules (including all exhibits, schedules and complete copy of a debt commitment letterannexes to such letters, other than the fee letter relating thereto (collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant to which the lenders party thereto have agreedwhich, and subject to the terms and conditions set forth thereinthereof, the parties thereto have committed to lend provide the amounts debt financing set forth therein for the purposes purpose of financing funding the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the (ii) an executed equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. letter (the “Equity Financing CommitmentCommitment Letter” and and, together with the Debt Financing CommitmentCommitment Letters, the “Financing CommitmentsCommitment Letters”), pursuant to which the parties thereto have Griffon has committed, subject to the terms and conditions set forth therein, thereof to invest the amount set forth therein (the “Equity Financing” and and, together with the Debt Financing CommitmentFinancing, the “FinancingFinancings”). None .
(b) As of the Financing Commitments has date hereof, the Commitment Letters, in the form so delivered, are in full force and effect, have not been terminated or otherwise amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained set forth in the Financing Commitments Commitment Letters have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, respect and the Financing Commitments are in full force Equity Commitment Letter constitutes a legal, valid and effect and are the validbinding obligation of Buyer, binding and enforceable obligations of Parent, Merger Sub and to the knowledge Knowledge of Parentthe Buyer, the Commitment Letters constitute a legal, valid and binding obligation of the other parties thereto, in each case, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other Laws from time to time in effect relating to creditors’ rights and remedies generally and general principles of equity. There Except as expressly set forth in the Commitment Letters, there are no conditions precedent or other contingencies related to the funding respective obligations of the lenders specified in the Commitment Letters to fund the full amount of the Financing, other than as Financings. Subject to the accuracy of the representations and warranties of the Seller and the Company set forth in or contemplated by Articles III and IV hereof, as of the Financing Commitments. No date hereof, no event has occurred which, with or without notice, lapse of time or both, would constitute a material default or material breach on the part of Parent or Merger Sub the Buyer under any the Commitment Letters. Subject to the terms and conditions of this Agreement, assuming the funding of the Financing CommitmentsFinancings in accordance with the terms and conditions of the Commitment Letters, the aggregate proceeds from the Financings constitute all of the financing required to be provided by the Buyer for the consummation of the transactions contemplated hereby and as will, in the aggregate, be sufficient to make payment of all amounts required to be paid by Buyer or on its behalf hereunder on the Closing Date. As of the date hereof Parent hereof, the Buyer has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Financings will not be satisfied or that the Financing Financings will not be made available to Parent Buyer on the Closing Date. Subject As of the date hereof, there are no side letters or other Contracts or arrangements related to the terms and conditions contained in this Agreement and the Financing Commitmentsfunding or investing, Parent and Merger Sub will have at the Closingas applicable, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion full amount of the aggregate Per Share Merger Consideration (Financings other than as expressly set forth in the Commitment Letters. As of the date hereof, all commitment and any repayment other fees, costs and expenses that have been incurred and are due or refinancing of debt contemplated by this Agreement payable on or prior to the Financing Commitments) and any other amounts required to be paid date hereof in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesCommitment Letters has been paid.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Griffon Corp), Stock Purchase Agreement (Ames True Temper, Inc.)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is has received a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. of this Agreement (the “Equity Financing Commitment” Letter”) from Banc of America Securities LLC, Banc of America Bridge LLC, Bank of America, N.A. and together with the Debt Financing CommitmentBank of Nova Scotia (collectively, the “Financing CommitmentsLenders”), pursuant relating to the financing (including all exhibits, schedules and amendments to the Financing Letter in effect as of the date of this Agreement) required to consummate the Merger and the other Transactions on the terms contemplated by this Agreement, to refinance certain existing indebtedness of the Parent and the Company and to pay related fees and expenses, which Financing Letter includes terms and conditions for (i) a $1.950 billion senior secured credit facility (the parties thereto “Senior Facility”) and (ii) a $750.0 million unsecured “bridge” loan facility (the “Bridge Facility”) (or Senior Notes as defined in the Financing Letter (“Senior Notes”) in lieu thereof). The Lenders have committed, committed to provide and arrange the financing contemplated by the Financing Letter upon and subject to the terms and conditions set forth therein, to invest in the amount set forth therein Financing Letter (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None Parent has provided the Company with true, complete and correct copies of the Financing Commitments has been amended or modified prior to Letter. As of the date of this Agreement, (i) the Financing Letter is in full force and effect, is a valid, binding and enforceable obligation of the Parent, and to the Knowledge of the Parent, the other parties thereto, and has not been withdrawn or terminated or otherwise amended or modified in any respect without the prior written consent of the Company and no such amendment or modification is contemplatedcontemplated by Parent or Sub or, to Parent’s Knowledge, any other party thereto, and the respective commitments contained (ii) neither Parent nor Sub is in the Financing Commitments have not been withdrawn or rescinded in breach of any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as terms or conditions set forth in or contemplated by the Financing Commitments. No therein and no event has occurred which, with or without notice, lapse of time or both, would could reasonably be expected to constitute a default on the part of Parent breach or Merger Sub under any of failure to satisfy a condition precedent set forth in the Financing Commitments, Letter. Parent and as Sub have paid any and all commitment fees or other fees in connection with the Financing Letter that are payable on or prior to the date of this Agreement.
(b) As of the date hereof of this Agreement, subject to the accuracy of the representations and warranties of the Company set forth in Article III, and the satisfaction of the conditions set forth in Sections 7.01 and 7.02, neither Parent nor Sub has no any reason to believe that any of it will be unable to satisfy the conditions of closing to be satisfied by it set forth in the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent Letter on the Closing Date. Subject to Assuming the terms and conditions contained funding of the Financing in this Agreement accordance with the Financing Letter, the proceeds from such Financing constitute all of the financing required for the consummation of the Merger and the Financing Commitmentsother Transactions, Parent and Merger Sub will have at the Closingand, together with the available Stock Consideration, Parent’s cash on hand, and cash on hand from operations of the Company Company, are sufficient for the satisfaction of all of Parent’s and its Subsidiaries on Sub’s obligations under this Agreement, including the Closing Date, funds sufficient to pay the cash portion payment of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and Consideration, any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, Merger and the other Transactions and to pay all related fees and expensesexpenses (including any repayment or refinancing of debt contemplated by this Agreement or the Financing Letter). There are no conditions precedent (i) to the availability of the “flex” provisions set forth in the Financing Letter or (ii) other than as expressly set forth in the Financing Letter, to the Lenders’ obligation to fund that portion of the Financing required for the consummation of the Merger and other Transactions. As of the date of this Agreement, there are no side letters or other agreements, arrangements or understandings (written or oral) relating to the Financing (other than fee letters and an engagement letter with respect to the Senior Notes with the providers of the Financing) to which Parent or Sub or any of their Affiliates is a party.
Appears in 2 contracts
Sources: Merger Agreement (Hercules Inc), Merger Agreement (Ashland Inc.)
Financing. Attached as Annex 5.2(e)(i(a) (i) Each of Parent and Sub shall use reasonable best efforts to the Parent Disclosure Letter is a true take, or cause to be taken, all actions and complete copy of a debt commitment letterto do, other than the fee letter relating thereto (collectivelyor cause to be done, the “Debt Financing Commitment”)all things necessary, pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth thereinproper or advisable, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true consummate and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with obtain the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, Closing Date on the terms and subject only to the conditions contained in the Debt Financing Commitment (or with other terms and conditions agreed by Parent and the Financing Commitments are in full force and effect and are the validSources, binding and enforceable obligations of Parent, Merger Sub and subject to the knowledge restrictions on amendments of Parentthe Debt Financing Commitment set forth below), including using its reasonable best efforts to (A) negotiate and enter into definitive agreements with respect to the Debt Financing on the terms and subject only to the conditions contained in the Debt Financing Commitment (or with other parties thereto. There are no terms and conditions precedent agreed by Parent and the Financing Sources, subject to the restrictions on amendments of the Debt Financing Commitment set forth below), (B) satisfy (or other contingencies obtain the waiver of), and cause its Affiliates to satisfy (or obtain the waiver of), on a timely basis all conditions, and comply with all obligations applicable to Parent or Sub, contained in the Debt Financing Commitment or the definitive agreements related to the funding Debt Financing Commitment that are within the control of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under or any of its or their Affiliates or (C) maintain in effect the Debt Financing Commitments, Commitment. If all conditions to the Debt Financing have been satisfied and as of the date hereof Parent has no reason to believe that any of the conditions to Parent’s and Sub’s obligation to consummate the Financing contemplated by the Financing Commitments will not be Merger have been satisfied or that (to the extent permitted by Law) waived, each of Parent and Sub shall use their reasonable best efforts to cause the financial institutions providing the Debt Financing will not be made available to Parent fund the Debt Financing on the Closing Date. Subject For the avoidance of doubt and notwithstanding anything to the contrary in this Section 5.08, Parent acknowledges and agrees that its obligations to consummate the Transactions on the terms and subject to the conditions contained in set forth herein is not conditioned upon the availability or consummation of the Debt Financing, the availability of any replacement commitments or receipt of the proceeds therefrom, and its obligations under this Agreement and include its obligation to take such actions as may be necessary to have at Closing the Financing Commitments, Parent and Merger Sub will have cash resources to consummate the Transactions at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Merger Agreement (Covance Inc), Merger Agreement (Laboratory Corp of America Holdings)
Financing. Attached At the Closing, assuming the funding of the Debt Financing in accordance with the Debt Commitment Letter and after giving effect to any “flex” provision in the Debt Commitment Letter or the related fee letters (including with respect to fees and original issue discount), Parent will have immediately available funds in an amount as Annex 5.2(e)(i) is necessary to consummate the Transactions, including the payment by Parent, Merger Sub and the Surviving Corporation of the aggregate amount of the Merger Consideration, other amounts payable pursuant to Article II (including all amounts payable in respect of Company Stock Options, Company Restricted Shares and Company RSUs under this Agreement), any fees and expenses of or payable by Parent, Merger Sub or the Surviving Corporation and any other amounts, including Indebtedness of the Company and its Subsidiaries, required to be paid in connection with, or as a result of, the consummation of the Transactions (the “Required Amount”). As of the date hereof, ▇▇▇▇▇▇ has delivered to the Parent Disclosure Letter is Company (a) a true correct and complete fully executed copy of a the debt commitment letter, other than dated as of even date herewith, including all exhibits, schedules, annexes and amendments to such letter in effect as of the fee letter relating thereto date of this Agreement (collectivelyas may be amended or modified in accordance with the terms hereof, the “Debt Commitment Letter”) and (b) a copy of any fee letters related to the Debt Commitment Letter (the “Fee Letters” and, together with the Debt Commitment Letter, the “Financing CommitmentLetters”) (which may be redacted to remove the fee amounts, economic terms and the terms of any “flex” provisions that are customarily redacted in transactions of this type, none of which redactions covers terms that reduce the amount of the Debt Financing below the Required Amount or adversely affect the conditionality, enforceability, termination or availability of the Debt Financing). Pursuant to, pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinof, the Debt Commitment Letter, the lender thereunder has committed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement set forth in such Debt Commitment Letter (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with neither the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment Letter nor any Fee Letter has been amended amended, restated or otherwise modified or waived prior to the date execution and delivery of this Agreement, no such amendment amendment, restatement or other modification is contemplated, contemplated and the respective commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn withdrawn, rescinded, amended, restated or rescinded otherwise modified in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the execution and delivery of this Agreement (in each case, other than to add lenders, financial institutions, lead arrangers, bookrunners, syndication agents or other similar entities in a manner contemplated by the Debt Commitment Letter). As of the date hereofof this Agreement, and the Financing Commitments are Debt Commitment Letter is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations obligation of Parent and, to the Knowledge of Parent, Merger Sub and to the knowledge each of Parent, the other parties thereto, enforceable in accordance with its terms against Parent and, to the Knowledge of Parent, each of the other parties thereto, subject to the Bankruptcy and Equity Exception. There are no conditions precedent or other contingencies related to the funding of obligation to make the full amount of Debt Financing available to Parent pursuant to the FinancingDebt Commitment Letter, other than as expressly set forth in the Debt Commitment Letter. Assuming the satisfaction of the conditions set forth in Section 6.01 and 6.02, the net proceeds of the Debt Financing will, in the aggregate and together with any cash or contemplated by other funds available to Parent and Merger Sub, be sufficient (after netting out any fees, original issue discount, expenses and similar premiums and charges payable pursuant to the Financing CommitmentsLetters, including after giving effect to the maximum amount of any “flex” provisions) for the payment of the Required Amount. No As of the date of this Agreement, (i) no event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to constitute a default or breach or result in a failure to satisfy a condition precedent, in each case, on the part of Parent or Merger Sub or, to the Knowledge of Parent, any other parties thereto under any term or condition of the Financing CommitmentsDebt Commitment Letter, and as (ii) assuming the satisfaction or waiver of the date hereof conditions set forth in Section 6.01 and Section 6.02 and taking into account the Marketing Period, Parent has no does not have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing or any other funds necessary to pay the Required Amount will not be made available to Parent on the Closing Date. Subject Parent has fully paid (or caused to be paid) all commitment fees or other fees to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts extent required to be paid on or prior to the date of this Agreement in connection with the consummation Debt Financing. Except for the Fee Letters and customary engagement letters with respect to the Debt Financing (none of which reduces the amount of the transactions contemplated herebyDebt Financing below the Required Amount or adversely affects the conditionality, and enforceability, termination or availability of the Debt Financing), as of the date hereof, there are no side letters or other agreements, contracts or arrangements of any kind relating to pay all related fees and expensesthe Debt Commitment Letter to which Parent or any of its Affiliates is a party, other than as expressly set forth in the Financing Letters.
Appears in 2 contracts
Sources: Merger Agreement (Regal Rexnord Corp), Merger Agreement (Altra Industrial Motion Corp.)
Financing. Attached as Annex 5.2(e)(i(a) Parent shall use commercially reasonable efforts to arrange and consummate the Parent Disclosure transactions contemplated by the Wachovia Commitment Letter is a true and complete copy of a such additional debt commitment letter, other than the fee letter relating thereto and/or equity financing transactions (collectively, the “Debt Financing Commitment”), pursuant to which Transactions” and the lenders party thereto have agreed, subject Wachovia Commitment Letter together with any commitment letter or any similar agreement with respect to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing CommitmentTransactions, the “Financing Commitments”) such that, at the Closing, Parent would have sufficient funds available to pay all amounts payable at or promptly following the Closing by Parent, Merger Sub or the Surviving Corporation pursuant to Sections 1.5, 1.6 and 1.7 and all of the related fees and expenses payable by Parent or Merger Sub in connection with the Merger and other Contemplated Transactions. Without limiting the generality of the foregoing, Parent shall use its commercially reasonable efforts: (i) to the extent within its control, to satisfy all conditions precedent in any Financing Commitments then in effect and in any definitive agreements relating to the Financing Transactions, (ii) to negotiate in good faith definitive agreements respecting the Financing Transactions, and (iii) if any material portion of the financing to be provided at the Closing contemplated by the Wachovia Financing Letter has become unavailable, regardless of the reason therefor, to obtain alternative financing from the same or other sources subject to substantially similar conditions precedent to funding to those set forth in the Wachovia Commitment Letter. Parent shall give the Company prompt notice of any termination, revocation or amendment of the Wachovia Commitment Letter or any other Financing Commitments and provide the Company with copies of any written correspondence with respect thereto, shall provide copies of any documentation (including drafts thereof) with respect to any Financing Commitments or any definitive documentation with respect to the Financing Transactions, as and when requested by the Company, and shall otherwise keep the Company reasonably informed as to the status of its efforts to arrange the Financing Transactions. Parent shall not permit any material amendment or modification to be made to the conditions precedent to funding or any other material provision set forth in the Wachovia Financing Commitment (or any other Financing Commitment entered into after the date hereof that replaces the Wachovia Financing Commitment) that could reasonably result in a material reduction in the amount of financing available at the Closing thereunder without the prior written consent of the Company (such consent not to be unreasonably withheld).
(b) In the event that (x) Wachovia or one or more other third parties provides at least $35 million of debt or equity financing to Parent at the Closing (other than amounts funded from the Trust Account) and (y) the proceeds at Closing from the Financing Transactions, together with the proceeds available to the Company from the Trust Account (as defined in Section 5.18) is less than the aggregate amount payable at, or immediately following, the Closing by Parent, Merger Sub or the Surviving Corporation pursuant to Sections 1.5, 1.6 and 1.7 (after using all cash (as determined in accordance with GAAP consistent with past practices and excluding restricted cash) on the Company’s balance sheet immediately prior to the Closing in excess of $20,000,000 to pay such amounts and borrowing the maximum amount permitted to be borrowed under the terms of any Financing Transaction being entered into at the Closing) (such shortfall, if any, the “Funding Shortfall”) and such Funding Shortfall does not exceed $80 million in the aggregate, then an amount equal to the Funding Shortfall (the “Stockholder Loan Amount”) that would have otherwise been payable to the Escrow Participants in cash pursuant to Sections 1.5, 1.6 and 1.7 shall instead be paid by Parent by the delivery of one or more promissory notes (the “Stockholder Loans”) having an aggregate initial principal amount equal to the Stockholder Loan Amount, which promissory notes shall be payable to the Escrow Participants pro rata in accordance with the amount of cash proceeds that would otherwise be payable to them at the Closing in respect of the shares of Company Capital Stock and shares of Company Common Stock subject to In-The-Money Company Options pursuant to Section 1.5(a)(ii)(A), pursuant Section 1.5(a)(iii)(A) and Section 1.6(a)(i) (calculated using the Estimated Closing Amount). In the event that any Stockholder Loan is made in connection with the Closing, Parent shall not enter into any other Financing Transaction at the Closing or, so long as any Stockholder Loan remains outstanding, incur any indebtedness that does not permit any Stockholder Loan to be refinanced by Parent and its Subsidiaries with the proceeds of any equity financing or any debt financing on terms that, in the aggregate, are not worse for the Parent and its other lenders than the terms of the Stockholder Loan being refinanced.
(c) In the event that the aggregate amount of Stockholder Loans at Closing is equal to or less than $40 million, the Stockholder Loans shall be “Stockholder Mezzanine Loans” having the terms set forth in clause (ii) below. In the event that the aggregate amount of the Stockholder Loans at Closing are greater than $40 million, $30 million of such Stockholder Loans shall be “Stockholder Mezzanine Loans” having the terms set forth in clause (ii) below and the remaining amount of such Stockholder Loans (not to exceed $50 million) shall be “Stockholder Term B Loans” having the terms set forth in clause (i) below.
(i) Any portion of the Stockholder Loans that are a “Stockholder Term B Loan” (the “Stockholder Term B Loan”) shall (1) have an initial adjustable interest rate equal to LIBOR plus 950 basis points, payable quarterly in cash, which interest rate shall be increased by 200 basis points per annum beginning on the parties thereto six month anniversary of the Closing Date and an additional 200 basis points per annum each three months thereafter, (2) be subject to a 1.5% origination fee payable in cash at the Closing, one-half of which shall be refunded to Parent with respect to any portion of the Stockholder Term B Loan principal amount that is refinanced or otherwise repaid within six months of the Closing Date, (3) be secured by a second lien on all of the assets of Parent and its Subsidiaries and shall be subordinate to the debt financing contemplated by the Wachovia Commitment Letter or any other first lien debt financing, not to exceed $75 million initial principal amount in the aggregate (together with any replacements and refinancings thereof in an aggregate principal amount that does not exceed $75 million, the “First Lien Loan”) and pari passu or senior to all other indebtedness of Parent and its Subsidiaries, (4) have committeda maturity of three and a half years following the Closing Date, subject and (5) shall otherwise be on terms and conditions customary for commercial “Second Lien” Term B loans and in no event shall contain terms, covenants and conditions less favorable to the Escrow Participants in any material respect than the terms, covenants and conditions obtained by a third party in connection with any other Term B loan entered into by Parent or its Subsidiaries with such a third party as part of the Financing Transactions.
(ii) Any portion of the Stockholder Loans that are a “Stockholder Mezzanine Loan” (the “Stockholder Mezzanine Loan”) shall (1) have an initial interest rate equal to twenty percent per annum, one half of which shall be payable quarterly in cash and one half of which shall be payable quarterly in kind, which interest rate shall be increased by 100 basis points per annum beginning on the twelve month anniversary of the Closing Date and by an additional 100 basis points per annum each three months thereafter, one half of which shall be payable quarterly in cash and one half of which shall be payable quarterly in kind, (2) be secured by a third lien on all of the assets of Parent and its Subsidiaries and shall be subordinate to the First Lien Loan (not to exceed $75 million initial principal amount in the aggregate) and any second lien debt financing consummated by Parent in connection with the Closing (and any replacements or refinancings thereof in an aggregate principal amount, together with the First Lien Loans, not to exceed $115 million), (3) have a maturity of three and a half years following the Closing Date, and (4) otherwise be on terms and conditions customary for commercial “mezzanine” bridge loans and in no event shall contain terms, covenants and conditions less favorable to the Escrow Participants in any material respect than the terms, covenants and conditions obtained by a third party in connection with any mezzanine or other loans subordinated to any second lien financing entered into by Parent or its Subsidiaries with such a third party as part of the Financing Transactions.
(iii) In addition, to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitmentspecified above, the “Financing”Stockholder Loans shall provide that (in the case of clauses (w). None , (x) and (z) to the extent permitted by the terms of the Financing Commitments First Lien Loan): (w) 100% of the proceeds of any debt or equity financing consummated by Parent or its Subsidiaries following the Closing shall be used to prepay first the Stockholder Term B Loan and, when such loan has been amended repaid in full, thereafter the Stockholder Mezzanine Loan, (other than financing used to refinance or modified prior replace the First Lien Loan in an aggregate principal amount that does not exceed $75 million), (x) 100% of the proceeds of any sale of assets of Parent or its Subsidiaries (other than the sale of inventory or the licensing of Intellectual Property in the ordinary course of business or the sale of equipment in the ordinary course of business so long as the proceeds of the sale of such equipment are used to purchase additional equipment within 90 days thereof) following the Closing shall be used to prepay first the Stockholder Term B Loan and, when such loan has been paid in full, thereafter the Stockholder Mezzanine Loan, (y) no dividends, distributions, redemptions or other payments shall be made to the equity holders of Parent in respect of the equity securities of Parent held by such holders so long as any Stockholder Loan remains outstanding, and (z) 100% of excess cash flow from the operation of Parent and its Subsidiaries (to be defined in the definitive agreements with respect to the Stockholder Loans in a manner consistent with general market practice) shall be used to prepay first the Stockholder Term B Loan and, when such loan has been paid in full, thereafter the Stockholder Mezzanine Loan; provided for purposes of this clause (z) the maximum availability to Parent or its Subsidiaries under any revolving credit facility plus the aggregate amount of cash and cash equivalents as determined in accordance with GAAP on a consolidated basis is at least $35 million after giving effect to such repayment.
(d) If requested by the Company at any time after the earlier of January 10, 2007 or the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained filing of the definitive Proxy Statement by Parent in the Financing Commitments have not been withdrawn or rescinded in any respect. event Parent has fully paid any and all commitment fees or other fees not negotiated definitive agreements with respect to Financing Transactions as a result of which it reasonably expects to receive at least $115 million in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have proceeds at the Closing, together or by Parent at any time, Parent and the Stockholder Representative shall negotiate definitive agreements with respect to the available cash Stockholder Loans and Parent shall reimburse the Stockholder Representative for any out-of-pocket expenses (including reasonable out-of-pocket legal fees in connection therewith) incurred by the Stockholder Representative in negotiating such agreements. If Parent and the Stockholder Representative are unable to agree on any terms or conditions of the Company Stockholder Loans not specified above, Parent and its Subsidiaries the Stockholder Representative shall jointly retain (at Parent’s sole cost and expense) a mutually acceptable nationally recognized law firm with experience representing lenders in loans of the types included in the Stockholder Loan, which shall resolve any dispute regarding such terms and conditions by determining the prevailing market practice then in effect with respect to loans of such type (it being understood that, except as noted in Section 5.9(c), such loans are not being made on terms customary for seller financing and are instead intended to be made on market terms typical for loans of such type made by commercial lenders).
(e) If the Closing DateStockholder Loan is made, funds sufficient then notwithstanding anything to pay the cash contrary in this Agreement, the Indemnity Escrow Contribution Amount shall be equal to the excess (if any) of (i) $20,000,000 over (ii) the Stockholder Loan Amount. In the event that, and at such time as, any Parent Indemnitee would otherwise have become entitled to receive a distribution out of the Indemnity Escrow Fund in accordance with Section 9.7 (a “Distribution Entitlement”), the indemnity obligation of the Escrow Participants, and such Parent Indemnitee’s entitlement to such distribution, shall be satisfied first by reducing the principal amount of the Stockholder Term B Loan dollar-for-dollar by the amount of such Distribution Entitlement, up to the lesser of (x) the principal amount of the Stockholder Term B Loan then remaining outstanding or (y) the amount of such Distribution Entitlement, and any remaining portion of such Distribution Entitlement shall be satisfied by reducing the principal amount of the Stockholder Mezzanine Loan dollar-for-dollar by the remaining amount of such Distribution Entitlement, up to the lesser of (1) the principal amount of the Stockholder Mezzanine Loan then remaining outstanding or (2) the remaining amount of such Distribution Entitlement. To the extent that at any time a proposed repayment by Parent of all or any portion of the principal amount of a Stockholder Loan (other than by reason of a Distribution Entitlement) would have the effect of reducing the aggregate Per Share Merger Consideration principal amount outstanding of all Stockholder Loans remaining below an amount equal to the excess (if any) of (A) $20 million over (B) the aggregate amount of all of all prior reductions in the principal amount of Stockholder Loans as a result of Distribution Entitlements, the amount of such repayment shall not be paid by Parent to the payees of the Stockholder Loan, but instead shall be deposited in the Indemnity Escrow Fund; provided, however, that the principal amount of the Stockholder Loan shall for all purposes be deemed to have been reduced by the amount of such deposit.
(f) The Company shall use commercially reasonable efforts (at Parent’s sole cost and expense with respect to any repayment or refinancing of debt out-of-pocket expenses requested to be incurred by Parent in connection therewith) to assist Parent in connection with transactions undertaken by Parent to finance the transactions contemplated by this Agreement or Agreement. Notwithstanding the Financing Commitments) and foregoing, in no event shall any other amounts of the Acquired Companies be required to be paid in connection enter into any agreement or incur any liability or obligation with respect to such financing transactions prior to the consummation of the transactions contemplated hereby, and to pay all related fees and expensesClosing.
Appears in 2 contracts
Sources: Merger Agreement (Acquicor Technology Inc), Merger Agreement (Conexant Systems Inc)
Financing. Attached as Annex 5.2(e)(i(a) Assuming the Financing has been received, at or prior to the time at which payment for validly tendered Shares is required to be made hereunder, Parent Disclosure Letter is a true and Merger Sub shall have available cash resources and/or financing in an aggregate amount sufficient to enable Parent and Merger Sub to consummate the Transactions. Parent has delivered to the Company an accurate and complete copy of a fully executed debt commitment letterletter (together with all annexes, other than schedules and exhibits thereto) from the fee letter relating financial institutions party thereto (collectively, the “Debt Financing CommitmentLenders”) (such letter, the “Commitment Letter”), pursuant to which the lenders party thereto have agreedterms, but subject to the terms and conditions expressly set forth therein, of which certain of the Lenders have committed to lend provide Parent and Merger Sub with debt financing in the amounts set forth therein for the purposes of partially financing the transactions contemplated by this Agreement Transactions (such debt financing, the “Debt Financing”). Attached as Annex 5.2(e)(iiParent and Merger Sub acknowledge that their obligations under this Agreement, including their obligations to consummate the Transactions, are not contingent or conditioned in any manner on obtaining any funds or financing.
(b) The Commitment Letter is, and each definitive agreement with respect to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment(which definitive agreements are referred to collectively in this Agreement as the “Definitive Financing Agreements”) entered into after the date of this Agreement but prior to the Acceptance Time (if any), will be, in each case, a legal, valid, binding and enforceable obligation of Parent (to the extent party thereto) and Merger Sub (to the extent party thereto) and, to the Knowledge of Parent, the “Financing Commitments”), pursuant to which the other parties thereto have committed, subject to the in accordance with their respective terms and subject to: (i) the respective conditions expressly set forth therein; (ii) any Law of general application relating to bankruptcy, to invest insolvency and the amount set forth therein relief of debtors; and (the “Equity Financing” iii) rules of Law governing specific performance, injunctive relief and together with the Debt Financing Commitment, the “Financing”)other equitable remedies. None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have Commitment Letter has not been withdrawn withdrawn, modified, terminated or rescinded in any respect. Parent has fully paid any and all commitment fees , amended, restated or other fees in connection with the Financing Commitments that are payable on otherwise modified or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretowaived. There are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing, other than as expressly set forth in or expressly contemplated by the Financing Commitments. No event has occurred whichCommitment Letter and this Agreement, with or without noticeand, lapse of time or both, would constitute a default on assuming the part of Parent or Merger Sub under any truth and accuracy of the Financing CommitmentsCompany’s representations and warranties and compliance by the Company with its covenants and agreements herein, and as of the date hereof Parent has no does not have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent at or prior to the time at which payment for validly tendered Shares is required to be made hereunder. As of the date hereof, there are no, and there are not contemplated to be any, side letters or other agreements, contracts or arrangements related to the funding or investing, as applicable, of the full amount of the Debt Financing, other than any customary engagement letters, fee letters and non-disclosure agreements that do not impact the conditionality for the Debt Financing to occur or amount of the Debt Financing.
(c) As of the date of this Agreement, no event has occurred which (i) would constitute a breach or default (or an event which with notice or lapse of time or both would constitute a default), in each case, on the Closing Datepart of Parent under the Commitment Letter or (ii) would, individually or in the aggregate, permit the Lenders to terminate, or to not immediately fund the facilities to be established thereunder upon satisfaction of all conditions thereto. Subject to As of the terms and conditions contained date of this Agreement, neither Parent nor Merger Sub is aware of any material inaccuracies in this Agreement and any of the Financing Commitmentsrepresentations or warranties (if any) of Parent or Merger Sub in the Commitment Letter. To the extent required, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment has fully paid all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with prior to the consummation date of this Agreement pursuant to the transactions contemplated hereby, and to pay all related fees and expensesCommitment Letter.
Appears in 2 contracts
Sources: Merger Agreement (Mitel Networks Corp), Merger Agreement (Mavenir Systems Inc)
Financing. Attached as Annex 5.2(e)(i(i) Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy fully executed copies of a debt the commitment letterletter (including all related exhibits, other than the schedules, annexes, supplements and term sheets attached thereto, and including any related fee letter relating thereto (collectivelyas described below, as each of the foregoing may be amended, supplemented, replaced, substituted, terminated or otherwise modified or waived from time to time after the date hereof in compliance with Section 6.13, the “Debt Commitment Letter”) from the Debt Financing Commitment”)Sources party thereto, pursuant confirming their respective commitments to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes provide Parent or any of its Affiliates with debt financing in connection with the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest hereby in the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification .
(ii) The Debt Commitment Letter is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the validis a valid and binding obligation of Parent or its Affiliates party thereto and, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent , enforceable against Parent or other contingencies related its Affiliates party thereto and, to the funding knowledge of Parent, the other parties thereto in accordance with its terms (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity). As of the full amount date hereof, the Debt Commitment Letter has not been amended or modified, and the commitments contained in the Debt Commitment Letter have not been withdrawn, rescinded or otherwise modified. All fees (if any) required to be paid under the Debt Commitment Letter on or prior to the date hereof have been paid in full. As of the Financingdate of this Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would constitute a material breach or default on the part of Parent or Merger Sub or, to the Knowledge of Parent, any other party thereto under any term of the Financing Commitments, and as Debt Commitment Letter which would reasonably be expected to materially impair or adversely affect the Debt Financing. As of the date hereof hereof, Parent and Merger Sub have no reason to believe that they or any other party thereto will be unable to satisfy on a timely basis any term of the Debt Commitment Letter. As of the date of this Agreement, Parent has no reason to believe that (A) any of the conditions precedent or other contingencies related to the funding of the Debt Financing contemplated by the Financing Commitments will not be satisfied or that (B) the Debt Financing will not be made available to Parent or Merger Sub on the Closing Date. Subject Parent and Merger Sub each expressly agree and acknowledge that Parent’s and Merger Sub’s obligations to consummate the Merger, are not subject to, or conditioned on, Parent’s or Merger Sub’s receipt of any financing.
(iii) There are no conditions precedent or other contingencies (including the consent of any lender under the Existing Credit Agreement which is not party to the Debt Commitment Letter) directly or indirectly related to the funding of the full amount of the Debt Financing other than as expressly set forth in the Debt Commitment Letter. Other than the Debt Commitment Letter, there are no other contracts, arrangements or understandings entered into by Parent or any Affiliate thereof related to the funding or investing, as applicable, of the Debt Financing (except for (i) customary fee letters relating to the commitments in the Debt Commitment Letter, a true, complete and fully executed copy of each of which has been provided to the Company, with only the fee amounts, pricing terms, pricing caps and other commercially sensitive terms and conditions contained redacted or (ii) customary engagement letters or non-disclosure agreements which do not impact the conditionality or amount of the Debt Financing).
(iv) Assuming the Debt Financing is funded on the Closing Date in accordance with the Debt Commitment Letter, the Closing is consummated in accordance with the terms of this Agreement and the transactions in the Rollover and Support Agreements are consummated in accordance with the terms thereof, following satisfaction of the conditions precedent thereto, the aggregate proceeds of the Debt Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available no more than $5 million of cash of the Company and its Subsidiaries on the Closing Date, funds will be in an amount sufficient to pay consummate the cash portion of Merger and the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt other transactions contemplated by this Agreement or Agreement, including to (i) pay the Financing Commitmentsaggregate Merger Consideration pursuant to Section 4.01(a) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to (ii) pay all related fees and expensesexpenses of Parent, Merger Sub and their respective representatives pursuant to this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Convey Health Solutions Holdings, Inc.), Merger Agreement (Convey Health Solutions Holdings, Inc.)
Financing. Attached as Annex 5.2(e)(i) Purchaser has delivered to the Parent Disclosure Letter is a Seller true and complete copy complete, fully-executed copies of a the debt and equity commitment letterletters, other than dated as of October 3, 2013 among Purchaser; Citigroup Global Markets Inc., Citibank, N.A., Citicorp USA, Inc., Citicorp North America, Inc. and/or any of their affiliates; Bank of America, N.A.; ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated; Barclays Bank PLC; ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc.; and Natixis, New York Branch and including all exhibits, schedules, annexes and amendments to such agreements in effect as of the fee letter relating thereto date hereof (collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinthereof each of the parties thereto (other than Purchaser), has severally agreed and committed to lend provide the amounts debt financing set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is and Purchaser has received a true and complete copy commitment in respect of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. financing set forth therein (the “Equity Financing CommitmentFinancing,” and together with the Debt Financing CommitmentFinancing, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, collectively the “Financing”). None of the Financing Commitments has The Commitment Letters have not been amended amended, restated or otherwise modified or waived prior to the date of this Agreement, no such amendment or modification is contemplated, Execution Date and the respective commitments contained in the Financing Commitments Commitment Letters have not been withdrawn withdrawn, modified or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date hereof. As of the date hereof, and the Financing Commitments Commitment Letters are in full force and effect and are constitute the validlegal, valid and binding obligation of each of Purchaser and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto, except as such enforcement may be limited by laws affecting the enforcement of creditors’ rights generally or by general equitable principles. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in the Commitment Letters. There are no other agreements, side letters or arrangements that would permit the parties to the Commitment Letters to reduce the amount of the Financing or that would otherwise affect the availability of the Financing. The Commitment Letters provide Purchaser with binding financial commitments that, when funded at Closing, provide it with sufficient funds to pay the Final Purchase Price and to pay any other amounts required to be paid by it in connection with the consummation of the transactions contemplated by this Agreement. As of the Financing Commitments. No date hereof, (A) no event has occurred which, that would constitute a breach or default (or an event that with notice or without notice, lapse of time or both, both would constitute a default default), in each case, on the part of Parent or Merger Sub Purchaser under the Commitment Letters or, to the Knowledge of Purchaser, any of other party to the Financing Commitments, Commitment Letters and as of the date hereof Parent (B) Purchaser has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent Purchaser on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts Purchaser has fully paid all fees required to be paid in connection with prior to the consummation of date hereof pursuant to the transactions contemplated hereby, Commitment Letters and will pay any additional fees required to pay all related fees and expensesbe paid pursuant to the Commitment Letters.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Forest Oil Corp)
Financing. Attached (a) Parent shall use its reasonable best efforts to take, or cause Merger Sub to take, all actions and to do, or cause Merger Sub to do, all things reasonably necessary, proper or advisable to arrange, and consummate as Annex 5.2(e)(i) to soon as practicable after the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectivelydate hereof, the “Debt Financing Commitment”), pursuant to which on the lenders party thereto have agreedterms and conditions described in the Financing Commitments (provided that, subject to the terms provisions of this Section 6.14(a), Parent and conditions set forth thereinMerger Sub may replace or amend the Debt Financing Commitments to add lenders, to lend lead arrangers, bookrunners, syndication agents or similar entities which had not executed the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated Financing Commitments as of the date hereof, from GS Capital Partners V Fundor otherwise amend the Financing Commitments so long as such replacement or amendment would not adversely impact in any material respect the ability of Parent or Merger Sub to consummate the transactions contemplated hereby), L.P. including using reasonable best efforts to (i) maintain in effect the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms foregoing replacement and amendment rights, (ii) satisfy on a timely basis all conditions applicable to Parent and Merger Sub to obtaining the Financing set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior within their control (including by consummating the Equity Financing pursuant to the date hereof, and terms of the Equity Financing Commitments are and by assisting in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent syndication or other contingencies related to the funding marketing of the full amount of Debt Financing contemplated by the Financing, other than as set forth in or Debt Financing Commitments) and (iii) enter into definitive agreements with respect thereto on the terms and conditions contemplated by the Financing Commitments. No event has occurred which, with Commitments or without notice, lapse of time or both, on other terms acceptable to the Parent that would constitute a default on not adversely impact in any material respect the part ability of Parent or Merger Sub under any of to consummate the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing transactions contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Datehereby. Subject to the terms and conditions contained herein, at the Closing Parent shall draw down on the Debt Financing if the conditions to the Debt Financing Commitments are then satisfied. If any portion of the Financing becomes unavailable on the terms and conditions contemplated in this Agreement and the Financing Commitments, Parent shall use its reasonable best efforts to arrange to obtain alternative financing from alternative sources on terms not materially less beneficial to Parent and Merger Sub will have at (as determined in the reasonable judgment of Parent) in an amount sufficient to consummate the transactions contemplated by this Agreement. Parent shall keep the Company reasonably apprised of material developments related to the Financing, and shall provide a copy of each document related to the Financing to the Company promptly after such document becomes available.
(b) Prior to the Closing, together with the available cash Company shall provide to Parent and Merger Sub, and shall cause its Subsidiaries to, and shall use its commercially reasonable efforts to cause the respective officers, employees and advisors, including legal and accounting, of the Company and its Subsidiaries on the Closing Dateto, funds sufficient provide to pay the cash portion of the aggregate Per Share Parent and Merger Consideration (and any repayment Sub all cooperation reasonably requested in writing by Parent that is reasonably necessary, proper or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid advisable in connection with the Financing, including (i) participating in meetings, presentations, road shows, due diligence sessions and sessions with rating agencies, (ii) assisting with the preparation of materials for rating agency presentations, offering documents, private placement memoranda, bank information memoranda, prospectuses, business projections and similar documents necessary, proper or advisable in connection with the Financing, (iii) furnishing Parent and Merger Sub with financial and other pertinent information regarding the Company and its Subsidiaries as may be reasonably required under the Debt Commitments (all such information in this clause (iii), the "Required Information"), (iv) taking all actions reasonably necessary to permit the lenders involved in the Financing to evaluate the Company's current assets, cash management and accounting systems, policies and procedures relating thereto for the purposes of establishing collateral arrangements, and (v) taking all corporate actions reasonably necessary to permit the consummation of the transactions contemplated hereby, Debt Financing and to pay permit the proceeds thereof, together with the cash at the Company and its Subsidiaries, to be made available to the Company on the Closing Date to consummate the Merger. Parent shall, promptly upon request by the Company, reimburse the Company for all related fees and expensesout-of- pocket costs incurred by the Company or its Subsidiaries in connection with the performance of the provisions of this Section 6.14(b).
Appears in 2 contracts
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt (i) the commitment letterletter with respect to the senior credit facilities, other than dated as of the fee date hereof, among Parent and Deutsche Bank Securities Inc., Deutsche Bank Trust Company Americas and JPMorgan Chase Bank and (ii) the commitment letter relating thereto with respect to the first lien mortgage loan, dated as of the date hereof, among Parent and German American Capital Corporation, Deutsche Bank AG, New York Branch and JPMorgan Chase Bank (collectively, the “Debt Financing CommitmentCommitments”), pursuant to which the lenders party thereto have agreedcommitted, subject to the terms and conditions set forth thereinthereof, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii, and (iii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V FundFC Investor, L.P. LLC (the “Equity Financing Commitment” and and, together with the Debt Financing CommitmentCommitments, the “Financing Commitments”), pursuant to which the such parties thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest the amount cash amounts set forth therein (the “Equity Financing” and and, together with the Debt Financing CommitmentFinancing, the “Financing”). The Financing Commitments are in full force and effect and are legal, valid and binding obligations of Parent and, to the knowledge of Parent, the other parties thereto. None of the Financing Commitments has been or will be amended or modified prior to the date of this Agreementmodified, no such amendment or modification is contemplatedexcept as consistent with Section 7.9(c), and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to respect as of the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding As of the full amount date of the Financingthis Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub under any Financing Commitment and subject to the accuracy of the Financing Commitments, representations and as warranties of the date hereof Company set forth in Article IV and the satisfaction of the conditions set forth in Sections 8.1 and 8.2 hereof, neither Parent nor Merger Sub has no any reason to believe that it will be unable to satisfy on a timely basis any term or condition of closing to be satisfied by it in any of the conditions Financing Commitments on or prior to the Financing Closing Date. The funds contemplated to be provided by the Financing Commitments will not would be satisfied sufficient to enable Parent to make or that the Financing will not cause to be made available to Parent on payments of the Closing Date. Subject to Merger Consideration as provided herein (including for the terms and conditions contained in this Agreement and the Financing CommitmentsCompany Options as provided herein), Parent and all other necessary payments by it, Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid Surviving Corporation in connection with the consummation Merger (including the repayment of outstanding indebtedness of the transactions contemplated hereby, Surviving Corporation) and to pay all of the related fees and expenses. There are no conditions precedent or other contingencies to the funding of the Financing other than as set forth in the Financing Commitments. There are no side letters or other agreements, contracts or arrangements (except for customary fee letters and engagement letters) related to the funding or investing, as applicable, of the full amount of the Debt Financing other than as expressly set forth in or contemplated by the Debt Financing Commitments. As of the date hereof, Parent or Merger Sub has fully paid, or caused to be fully paid, any and all commitment fees which are due and payable with respect to the Debt Financing Commitments.
Appears in 2 contracts
Sources: Merger Agreement (Station Casinos Inc), Merger Agreement (Station Casinos Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent shall use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to consummate the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which and obtain the lenders party thereto have agreed, subject to proceeds of the Debt Financing on the terms and conditions set forth thereindescribed in the Commitment Letter and Fee Letter, including using reasonable best efforts to lend (i) maintain in effect and enforce the amounts set forth Commitment Letter and Fee Letter in accordance with their terms, (ii) negotiate, execute and deliver definitive agreements with respect to the Debt Financing (the “Definitive Agreements”) consistent with the terms and conditions contained therein for (including, as necessary, the purposes “flex” provisions contained in the Fee Letter), (iii) satisfy (or, if deemed advisable by Parent, obtain the waiver of) on a timely basis all conditions in the Commitment Letter, Fee Letter and the Definitive Agreements and comply with its obligations thereunder, and (iv) draw a sufficient amount of financing the Debt Financing to enable Parent to consummate the Offer and the Merger, in the event that all closing conditions contained in Section 7.01 and Annex I shall be satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing, provided that such conditions are capable of being satisfied as of such day assuming the Closing was to occur on such day). Parent shall provide the Company with prompt notice of any material breach or repudiation by any party to the Commitment Letter or Fee Letter of which the Parent becomes aware. In the event that all conditions contained in the Commitment Letter and Fee Letter have been satisfied and Parent and Merger Sub are required to consummate the Closing pursuant to Section 2.02, Parent shall use reasonable best efforts to cause each Lender to fund its respective committed portion of the Debt Financing required to consummate the transactions contemplated by this Agreement and to pay related fees and expenses on the Closing Date. Parent shall not, without the prior written consent of the Company, permit any amendment or modification to, or any waiver of any provision (including any remedy) under, or voluntarily replace (it being understood that any Alternative Debt Financing shall not be deemed a voluntary replacement for purposes of this sentence), the “Commitment Letter or Fee Letter if such amendment, modification, or waiver or voluntary replacement (w) adds new (or adversely modifies any existing) conditions to the consummation of the Debt Financing as compared to those in the Commitment Letter and Fee Letter as in effect on the date hereof, (x) adversely affects the ability of Parent to enforce its rights against other parties to the Commitment Letter, Fee Letter or the Definitive Agreements as so amended, replaced, supplemented or otherwise modified, relative to the ability of Parent to enforce its rights against such other parties to the Commitment Letter and Fee Letter as in effect on the date hereof or in the Definitive Agreements, (y) reduces the aggregate amount of the Debt Financing”). Attached as Annex 5.2(e)(ii, or (z) would otherwise reasonably be expected to prevent or materially delay the Parent Disclosure Letter is a true and complete copy consummation of the equity commitment letterMerger and the other transactions contemplated by this Agreement; provided, dated that for the avoidance of doubt no consent from the Company shall be required for: (A) any amendment, replacement, supplement or modification of the Commitment Letter that is limited to adding lenders, lead arrangers, bookrunners, syndication agents or similar entities that have not executed the Commitment Letter as of the date hereof (including in replacement of a Lender), (B) implementation or exercise of any “flex” provisions provided in the Fee Letter as in effect as of the date hereof, from GS Capital Partners V Fundor (C) any amendment, L.P. replacement, supplement or modification to the Commitment Letter or Definitive Agreements so long as such action would not be prohibited by the foregoing clauses (w) through (z). Parent shall promptly deliver to the Company copies of any such amendment, modification or replacement of the Commitment Letter or the Fee Letter.
(b) If, notwithstanding the use of reasonable best efforts by Parent to satisfy its obligations under this Section 6.13, the Commitment Letter or Fee Letter (or any Definitive Agreements relating thereto) expires or is terminated prior to the Closing, in whole or in part, for any reason, including as a result of a breach or repudiation or if any portion of the Debt Financing otherwise becomes unavailable, regardless of the reason therefor (other than a breach by the Company of this Agreement which prevents or renders impracticable the consummation of the Debt Financing) Parent will (1) use its reasonable best efforts to obtain alternative debt financing (the “Equity Financing Commitment” and Alternative Debt Financing”) (in an amount sufficient, when taken together with the available cash on hand, and any then-available Debt Financing Commitment, the “Financing Commitments”), pursuant to any then-existing Commitment Letter, to consummate the transactions contemplated by this Agreement and to pay related fees and expenses earned, due and payable as of the Closing Date) on terms not less favorable in the aggregate to Parent than those contained in the Commitment Letter and the Fee Letter that the alternative financing would replace (taking into account any flex provisions) from the same or other sources and which the parties thereto have committed, subject do not include any incremental conditionality to the terms and consummation of such alternative debt financing that are more onerous to Parent or the Company (in the aggregate) than the conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded Commitment Letter in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no and (2) promptly notify the Company of such unavailability and the reason to believe that any therefor.
(c) For purposes of the conditions foregoing Section 6.13(a) and Section 6.13(b), (i) the term “Commitment Letter” shall be deemed to the Financing contemplated by the Financing Commitments will not be satisfied include any commitment letter (or that the Financing will not be made available similar agreement) with respect to Parent on the Closing Date. Subject to the terms and conditions contained any alternative debt financing arranged in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration compliance herewith (and any repayment Commitment Letters remaining in effect at the time in question), (ii) the term “Fee Letter” shall be deemed to include any fee letter (or refinancing of similar agreement) with respect to any alternative debt contemplated by financing arranged in compliance with this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated herebySection 6.13, and (iii) the term “Lenders” shall be deemed to pay all related fees and expensesinclude any lenders providing the alternative debt financing arranged in compliance herewith.
Appears in 2 contracts
Sources: Merger Agreement (Cadence Pharmaceuticals Inc), Merger Agreement (Mallinckrodt PLC)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy copies of a (i) the fully executed debt commitment letter, other than dated as of the fee letter relating thereto (collectivelydate hereof, the “Debt Financing Commitment”)between Parent and Barclays Bank PLC, including all annexes, schedules and exhibits thereto, pursuant to which the lenders party thereto have Barclays Bank PLC has agreed, subject only to the terms and conditions to availability set forth thereinin the Financing Commitment Letter, to lend provide Parent with debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by hereby and the Plan Transactions (as amended, supplemented, replaced or otherwise modified in accordance with the terms thereof and of this Agreement (Agreement, the “Financing Commitment Letter”; the financing intended to be incurred pursuant to the Financing Commitment Letter, as it may be amended, supplemented, replaced or otherwise modified in accordance with the terms of this Agreement, the “Debt Financing”) and (ii) the fully executed fee letter referred to in the Debt Commitment Letter (as amended, supplemented, replaced or otherwise modified in accordance with the terms thereof and of this Agreement, the “Financing Fee Letter” and, together with the Financing Commitment Letter, the “Financing Letters”). Attached as Annex 5.2(e)(ii) to ; provided, that in the Parent Disclosure Letter is a true case of Financing Fee Letter, the fee amounts, yield or interest rate caps, original issue discount amounts, “market flex” and complete copy other economic terms set forth therein, none of which shall adversely affect the amount or availability of the equity commitment letterDebt Financing, dated as may be redacted in a customary manner.
(b) As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None each of the Financing Commitments has been amended or modified prior to the date of this AgreementLetters, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereofform so delivered, and the Financing Commitments are is in full force and effect and are is the legal, valid, binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties thereto, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at Law). There are The Financing Letters have not been withdrawn, terminated, repudiated, rescinded, amended, supplemented, replaced or otherwise modified in any respect except, after the date hereof, as expressly permitted pursuant to Section 7.15.
(c) As of the date hereof, no event has occurred or circumstance exists that, with or without notice, the lapse of time or both, would reasonably be expected to constitute or result in a breach, default or failure to satisfy a condition on the part of Parent (or, to the knowledge of Parent, any other Person) under the Financing Letters.
(d) As of the date hereof, neither Parent nor any of its Affiliates has entered into any side letters, contracts or other agreements or arrangements relating to the Debt Financing that impose conditions precedent or other contingencies related to to, or could affect, the funding of the full amount of the Debt Financing, in each case other than as expressly set forth in or contemplated by the Financing CommitmentsLetters. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as As of the date hereof hereof, the Financing Commitment Letter contains all of the conditions precedent to the obligations of the parties thereunder to make the full amount of the Debt Financing available to Parent and its Affiliates on the terms in the Financing Letters. As of the date hereof, Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or satisfied, nor does Parent have knowledge, as of the date hereof, that the Debt Financing will not be made available to Parent on the Closing Date. Subject Date in accordance with the terms of the Financing Letters.
(e) The net proceeds of the Debt Financing (both before and after giving effect to any “market flex” provisions), when funded on the Closing Date in accordance with the Financing Letters, together with other financial resources of Parent, will provide Parent with funds at the Effective Time sufficient to: (i) pay all cash amounts required to be paid by Parent under or in connection with this Agreement; (ii) pay any and all fees and expenses of or payable by Parent with respect to the terms and conditions contained in transactions contemplated by this Agreement and the Financing CommitmentsPlan Transactions, Parent including the Mergers and Merger Sub will have at the Closing, together Debt Financing; (iii) repay any Indebtedness required to be repaid in connection with the available cash consummation of the Company transactions contemplated hereby; and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion (iv) satisfy all of the aggregate Per Share Merger Consideration (and any repayment or refinancing other payment obligations of debt Parent contemplated by this Agreement or related to any of the transactions contemplated by this Agreement and the Plan Transactions.
(f) Parent has fully paid (or caused to be fully paid) any and all commitment fees or other fees that are required to be paid pursuant to the terms of any Financing CommitmentsLetter.
(g) Assuming the accuracy on the Closing Date of all of the representations and any warranties of the Company in this Agreement, after giving effect to the transactions contemplated by this Agreement and the Plan Transactions, including the payment of the aggregate Merger Consideration, the payment of all other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, by this Agreement and to pay the Plan Transactions and the payment of all related fees and expenses, Parent will be Solvent at and immediately after the Effective Time.
Appears in 2 contracts
Sources: Merger Agreement (Quality Care Properties, Inc.), Merger Agreement (Welltower Inc.)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy copies of a (i) the executed Debt Commitment Letter and Debt Fee Letters, which Debt Fee Letters have been redacted for fee amounts, pricing terms, “market flex” provisions (if any) and other terms that are customarily redacted, none of which redacted provisions would adversely affect the availability, conditionality or enforceability of the debt commitment letterfinancing contemplated by the Debt Commitment Letter. Pursuant to the Debt Commitment Letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinthereof, the Debt Financing Sources party thereto have committed to lend provide Parent and/or its Subsidiary party thereto with the amounts set forth therein in the Debt Commitment Letter for the purposes set forth therein. The only conditions precedent to the obligations of financing the transactions Debt Financing Sources party to the Debt Commitment Letter thereunder to provide the Facilities (as defined therein) on the Closing Date are the Financing Conditions.
(b) As of the date of this Agreement, the Debt Commitment Letter is in full force and effect and has not been withdrawn, rescinded or terminated, or otherwise amended or modified in any respect and, to the Knowledge of Parent, no amendment or modification is contemplated by (other than with respect to flex rights as set forth in the Debt Fee Letters and/or to add additional lenders, arrangers, bookrunners, syndication agents and similar entities who had not executed the Debt Commitment Letter as of the date of this Agreement), and the Debt Commitment Letter, in the form so delivered, constitutes the legal, valid and binding obligation of, and is enforceable against, Parent and, to the Knowledge of Parent, each of the other non-affiliated parties thereto, subject, in each case, to the Enforceability Exceptions.
(c) Parent has fully paid (or caused to be paid) any and all fees that are due and payable on or prior to the date of this Agreement (in connection with the “Debt Financing”). Attached Except as Annex 5.2(e)(ii) set forth in the Debt Commitment Letter and the Debt Fee Letters, as of the date of this Agreement, there are no contracts, agreements, “side letters” or other arrangements to which Parent or any of its Subsidiaries is a party relating to the Parent Disclosure Debt Commitment Letter is a true and complete copy or the Debt Financing that imposes conditions precedent to the funding of the equity commitment letterDebt Financing on the Closing Date or would otherwise affect the availability of the Debt Financing on the Closing Date in each case, dated other than any customary engagement letters or non-disclosure agreements which do not impact the conditionality, availability or amount of the Debt Financing and that, in the case of such customary engagement letters, copies of which (which may include customary redactions) have been delivered to the Company as of the date hereof.
(d) Assuming the accuracy of the Company’s representations and warranties set forth in Article 3 and compliance by the Company in all material respects with its obligations hereunder, from GS Capital Partners V Fund, L.P. and assuming satisfaction of the conditions in Article 6 (other than the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth thereinin Section 6.3(a) and Section 6.3(b) and those conditions that by their nature can only be satisfied at the Closing), to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None as of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, constitutes, or would constitute reasonably be expected to constitute, a default or breach by Parent or its Subsidiaries or, to the Knowledge of Parent, any other party thereto, of any term of the Debt Commitment Letter or to prevent the satisfaction of any condition to the availability of the Debt Financing. Assuming satisfaction of the conditions in Article 6 (other than the conditions set forth in Section 6.3(a) and Section 6.3(b)) and that the Debt Financing is funded on the part Closing Date in accordance with the Debt Commitment Letter, the proceeds from the Debt Financing, together with available cash of Parent and its Subsidiaries and other amounts expected to be available to Parent and its Subsidiaries, will be sufficient for Parent to pay the Required Amount.
(e) Parent and Parent Merger Subs expressly acknowledge and agree that their obligations under this Agreement to consummate the Transactions or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt other transactions contemplated by this Agreement are not subject to, or conditioned on, the receipt or availability of any funds or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesDebt Financing.
Appears in 2 contracts
Sources: Merger Agreement (Gildan Activewear Inc.), Merger Agreement (Hanesbrands Inc.)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of a one or more fully executed debt commitment letterletters, other than dated as of the date of this Agreement, and fully executed fee letter letters relating thereto (collectivelysuch commitment letter(s) and fee letter(s), including all exhibits, schedules, annexes and joinders thereto, as the same may be amended, modified, supplemented, extended or replaced from time to time in compliance with Section 5.16(d) is referred to herein as the “Debt Financing Commitment”), among Parent, JPMorgan Chase Bank, N.A., Credit Suisse AG, Cayman Islands Branch, Credit Suisse Loan Funding LLC, Macquarie Capital Funding LLC and Macquarie Capital (USA) Inc. (the “Lenders”), pursuant to which which, among other things, the lenders party thereto Lenders have agreed, upon the terms and subject to the conditions of the Debt Financing Commitment, to provide or cause to be provided, on a several and not joint basis, the financing commitments described therein; provided, that, except for disclosure to the Company and its board of directors, officers, accountants, attorneys and other professional advisors, such fee letters may be redacted to remove fee amounts, the economic portion of any market “flex” provisions, pricing caps and other economics terms and conditions set forth therein, none of which affect the availability or net amount of the Debt Financing. The debt financing contemplated under the Debt Financing Commitment (including any debt securities and credit facilities issued in lieu of any portion of such debt financing as contemplated in the Debt Financing Commitment) is referred to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (herein as the “Debt Financing.”). Attached as Annex 5.2(e)(ii
(b) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letterThe Debt Financing Commitment is, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are effect. The Debt Financing Commitment is the legal, valid, binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties theretothereto (except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, receivership, conservatorship, moratorium or similar Laws affecting the enforcement of creditors’ rights generally and except that the availability of the equitable remedy of specific performance or injunctive relief is subject to the discretion of the court before which any Action may be brought). The Debt Financing Commitment has not been amended, modified, supplemented, extended or replaced, and will not be amended, modified, supplemented, extended or replaced, except as permitted under Section 5.16(d). As of the date hereof, (i) neither Parent nor, to the knowledge of Parent, any other party to the Debt Financing Commitment is in breach of any of its covenants or other obligations set forth in, or is in default under, the Debt Financing Commitment and (ii) no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to (A) constitute or result in a breach or default on the part of Parent (or, to the knowledge of Parent, any other party to the Debt Financing Commitment) under the Debt Financing Commitment, (B) constitute or result in a failure to satisfy a condition or other contingency set forth in the Debt Financing Commitment or (C) otherwise result in any portion of the Debt Financing not being available at or prior to the Closing. As of the date hereof, Parent has not received any notice or other communication from any party to the Debt Financing Commitment with respect to (i) any actual or potential breach or default on the part of Parent or any other party to the Debt Financing Commitment or (ii) any intention of such party to terminate the Debt Financing Commitment or to not provide all or any portion of the Debt Financing. As of the date hereof, Parent and Merger Sub (i) have no reason to believe (both before and after giving effect to any “flex” provisions contained in the Debt Financing Commitment) that, assuming the satisfaction of the conditions set forth in Section 6.1 and Section 6.3, they will be unable to satisfy on a timely basis each term and condition relating to the closing or funding of the Debt Financing and (ii) know of no fact, occurrence, circumstance or condition that, assuming the satisfaction of the conditions set forth in Section 6.1 and Section 6.3, would reasonably be expected to (A) cause the Debt Financing Commitment to fail to be satisfied, to terminate, to be withdrawn, modified, repudiated or rescinded or to be or become ineffective or (B) otherwise cause the full amount (or any portion) of the Debt Financing contemplated to be available under the Debt Financing Commitment to not be available to Parent and Merger Sub on a timely basis (and in any event no later than at the Closing). The aggregate proceeds contemplated by the Debt Financing Commitment, together with available cash on hand of Parent and the Company, will be sufficient for Parent and Merger Sub to (i) consummate the Merger and any other transactions contemplated by this Agreement upon the terms and subject to the conditions set forth in this Agreement, including (A) the payment of the Cash Election Amount and (B) any funds to be provided by Parent to the Company to enable the Company to fund payments (if any) required to be made in connection with the transactions contemplated by this Agreement in accordance with Section 3.6, (ii) repay any indebtedness required to be repaid, redeemed, retired, cancelled, terminated or otherwise satisfied or discharged in connection with the Merger and (iii) pay all fees, costs and expenses (including any premiums or penalties) in connection therewith on the Closing Date. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, Debt Financing other than as expressly set forth in the Debt Financing Commitment. There are no side letters or other Contracts (except for customary engagement letters which do not contain provisions that impose any additional conditions or other contingencies to the funding of the Debt Financing, and true, correct and complete copies of which have been provided to the Company), whether written or oral, related to the funding of the full amount of the Debt Financing other than as expressly set forth in or expressly contemplated by the Debt Financing CommitmentsCommitment. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Neither Parent or Merger Sub under nor any of its Affiliates has entered into any Contract, arrangement or understanding (i) awarding any agent, broker, investment banker or financial advisor any financial advisory role on an exclusive basis in connection with the Financing CommitmentsMerger or (ii) expressly prohibiting any bank, and as investment bank or other potential provider of debt financing from providing or seeking to provide debt financing or financial advisory services to any Person in connection with a transaction relating to the date hereof Parent has no reason to believe that Company or any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied its Subsidiaries. All commitment fees or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment other fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts deposits required to be paid under the Debt Financing Commitment on or prior to the date of this Agreement have been paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesfull.
Appears in 2 contracts
Sources: Merger Agreement (Eldorado Resorts, Inc.), Merger Agreement (CAESARS ENTERTAINMENT Corp)
Financing. Attached as Annex 5.2(e)(i(a) As of the date of this Agreement, Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a debt (i) the fully executed commitment letter, other than letter dated as of the date hereof (together with all exhibits and schedules thereto and any fee letter relating thereto (collectivelyrelated thereto, the “Debt Commitment Letter”) from the Debt Financing Commitment”), Parties party thereto pursuant to which the lenders party thereto such Debt Financing Parties have agreed, subject to the terms and conditions thereof, to provide debt financing in the amounts set forth therein, and (ii) all of the fee letters related thereto, subject, in the case of such fee letters, to lend redaction solely of fee amounts, securities demand, “flex terms”, other economic terms and other provisions (including any dates related thereto) that are customarily redacted in connection with transactions of this type so long as no redaction covers terms that would reduce the amounts set forth therein for amount of the purposes Debt Financing below the amount required to satisfy the Financing Amount or adversely affects the conditionality, enforceability, availability or termination of the Debt Financing. The debt financing the transactions contemplated by the Debt Commitment Letter is collectively referred to in this Agreement (as the “Debt Financing.”). Attached
(b) Except as Annex 5.2(e)(ii) expressly set forth in the Debt Commitment Letter and in the unredacted portions of any fee letters, there are no conditions precedent to the Parent Disclosure Letter is a true and complete copy obligations of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant Parties to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with provide the Debt Financing Commitment, that would permit the “Financing”). None Debt Financing Parties to reduce the aggregate principal amount of the Debt Financing Commitments has been amended below an amount necessary to satisfy the Financing Amount, including any condition relating to the amount or modified prior availability of the Debt Financing pursuant to any “flex” provision. As of the date of this Agreement, no such amendment or modification is contemplated, Parent does not have any reason to believe that it will be unable to satisfy on a timely basis all terms and the respective commitments contained conditions to be satisfied by it in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable Debt Commitment Letter on or prior to the Closing Date, nor does Parent have knowledge that any of the Debt Financing Parties will not perform its obligations thereunder. As of the date hereofof this Agreement, and the Financing Commitments there are in full force and effect and are the validno side letters, binding and enforceable obligations understandings or other agreements, contracts or arrangements of Parent, any kind to which Parent or Teton Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related is a party relating to the funding of the full amount of the FinancingDebt Financing required to fund the Financing Amount, other than as expressly set forth in the Debt Commitment Letter and the unredacted portions of any fee letters and other than customary engagement letters and customary fee credit letters (in each case, the terms of which do not (i) reduce the amount of the Debt Financing below the amount required to fund the Financing Amount or contemplated (ii) impose any new or additional conditions or otherwise adversely amend, modify or expand any conditions precedent to the Debt Financing).
(c) Assuming (x) the accuracy in all material respects of the representations and warranties set forth in Article IV and (y) the performance by the Company and its Subsidiaries of the covenants and agreements contained in this Agreement in all material respects, the Debt Financing, when funded in accordance with the Debt Commitment Letter and giving effect to any “flex” provision in or related to the Debt Commitment Letter (including with respect to fees and original issue discount) shall provide Parent with cash proceeds on the Closing Date sufficient for the satisfaction of all of Parent’s payment obligations under this Agreement and the Debt Commitment Letter, including the payment of the Merger Consideration, the payment of any debt required to be repaid, redeemed, retired, cancelled, terminated or otherwise satisfied or discharged in connection with the Teton Merger (including the Payoff Amount), and any fees, expenses and other amounts of or payable by Parent or any of its Affiliates, in each case required to be paid on the Closing Date by Parent or Teton Merger Sub in connection with the transactions contemplated hereby (such amounts, collectively, the “Financing CommitmentsAmount”).
(d) As of the date of this Agreement, each of the obligations set forth in the Debt Commitment Letter constitutes the legal, valid, binding and enforceable obligation of Parent and, to the knowledge of Parent, all the other parties thereto and such Debt Commitment Letter is legal, valid, binding and enforceable in accordance with their terms and is in full force and effect. No As of the date of this Agreement, no event has occurred which, which (with or without notice, lapse of time or both, ) would constitute a default on default, breach or failure to satisfy a condition by Parent under the part of Parent or Merger Sub under any terms and conditions of the Financing CommitmentsDebt Commitment Letter, and and, as of the date hereof of this Agreement, Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent on the date of the Closing Date. Subject in an amount necessary to the terms and conditions contained in this Agreement and satisfy the Financing Commitments, Amount. Parent has paid in full any and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid pursuant to the terms of the Debt Commitment Letter on or before the date hereof, and will pay in connection full any such amounts due on or before the Closing Date. Except in accordance with the consummation terms hereof, the Debt Commitment Letter has not been modified, amended or altered and, as of the transactions date of this Agreement, none of the respective commitments thereunder have been terminated, reduced, withdrawn or rescinded in any respect, and, to the knowledge of Parent, as of the date of this Agreement, no termination, reduction, withdrawal or rescission thereof is contemplated. As of the date of this Agreement, no modification or amendment to the Debt Commitment Letter is contemplated hereby(other than, and in accordance with Section 6.15(c), to pay all related fees and expensesadd lenders, lead arrangers, bookrunners, syndication agents or similar entities that have not executed the Debt Commitment Letter as of the date of this Agreement).
(e) In no event shall the receipt or availability of any funds or financing (including the Debt Financing) by Parent, Teton Merger Sub or any of their respective Affiliates be a condition to any of Parent’s or Teton Merger Sub’s obligations under this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Tegna Inc), Merger Agreement (Nexstar Media Group, Inc.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt (i) an executed commitment letterletter dated as of the date hereof (the “Commitment Letter” and, together with the Fee Letter (as defined below), together, as they may be amended, modified or replaced in accordance with Section 5.2 and together with all annexes, exhibits, schedules and other than the fee letter relating attachments thereto (collectively, the “Debt Financing CommitmentCommitments”), ) pursuant to which the lenders party lender parties thereto have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide or cause to be provided the debt amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (such amounts, the “Debt Financing”) and (ii) the fee letters referred to in such commitment letter (with only fee amounts, dates, pricing caps, “market flex” and other economic terms redacted, none of which would adversely affect the amount or availability of the Debt Financing (the “Fee Letter”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereofof this Agreement, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with none of the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and the respective commitments contained in the Debt Financing Commitments have not been withdrawn or rescinded and, to the knowledge of Parent, no withdrawal or rescission thereof is contemplated as of the date of this Agreement. As of the date of this Agreement, the Debt Financing Commitments are in full force and effect and constitute the legal, valid and binding obligation of Parent and, to the knowledge of Parent, the other parties thereto (except to the extent that enforceability may be limited by the applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws affecting the enforcement of creditors’ rights generally or by general principles of equity). There are no conditions precedent related to the funding of the full amount of the Debt Financing other than as expressly set forth in the Debt Financing Commitments. As of the date of this Agreement, no event has occurred that (with or without notice or lapse of time, or both) would constitute a breach or default under the Debt Financing Commitments by Parent or Merger Sub or, to the knowledge of Parent, any respectother party to the Debt Financing Commitments. As of the date of this Agreement, assuming the satisfaction of the conditions contained in Section 6.1 and Section 6.3, Parent has no reason to believe that it will be unable to satisfy on a timely basis any term or condition to be satisfied by it and contained in the Debt Financing Commitments. Parent has fully paid any and all commitment fees or other fees in connection with required by the terms of the Debt Financing Commitments that are payable to be paid on or prior to before the date hereof, and of this Agreement. Assuming the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any satisfaction of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or contained in Section 6.1 and Section 6.3 and that the Financing will not be made available to Parent on the Closing Date. Subject to is funded in accordance with the terms and conditions contained in this Agreement and of the Financing CommitmentsCommitment Letter, Parent and Merger Sub will have have, at the ClosingEffective Time, together with sufficient cash, available lines of credit or other sources of immediately available funds to consummate the available cash transactions contemplated hereby, including payment of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other all amounts required to be paid in connection with the consummation of the transactions contemplated herebypursuant to Article II, and to pay all related fees and expenses. In no event shall the receipt or availability of any funds or financing, including under the Debt Financing Commitments, by Parent or Merger Sub or any Affiliate thereof be a condition to any of Parent’s or Merger Sub’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (MKS Instruments Inc), Merger Agreement (Newport Corp)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is Company a true and complete copy of the equity commitment letter, dated as of the date hereofMay 10, from GS Capital Partners V Fund2005, L.P. between Parent, Banc of America Securities LLC and Credit Suisse First Boston (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which Banc of America Securities LLC and Credit Suisse First Boston have agreed to provide the parties thereto have committed, subject to the terms kinds and conditions set forth therein, to invest the amount amounts of financing set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). Subject to the consummation of the Financing, Parent has or has available to it, and at all times through the Effective Time will have available, and will make available to Sub, all funds necessary to consummate the Merger and pay the related fees and expenses of Parent and Sub. None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedsince their respective dates, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the The Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretoeffect. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in the Financing Commitments. Subject to the accuracy of the representations and warranties of the Company set forth in Article IV, Parent is not aware of any fact or condition existing on the date of this Agreement that makes any of the assumptions or statements set forth in the Financing Commitments inaccurate or that causes, or might reasonably be expected to cause, the Financing Commitments to be ineffective or that precludes, or might reasonably be expected to preclude, the satisfaction of the conditions set forth in the Financing Commitments. The Financing Commitments have been duly executed by all parties thereto and are in full force and effect as of the date hereof. All commitment and other fees required to be paid under the Financing Commitments on or prior to the date hereof have been paid. The aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Financing Commitments. No event has occurred which, together with the Company’s anticipated cash balances, will be sufficient for Parent and the Surviving Corporation: (i) to pay the aggregate Merger Consideration and any other repayment or without notice, lapse refinancing of time Indebtedness contemplated in this Agreement or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, ; (ii) to pay all related fees and as expenses; and (iii) to finance the Surviving Corporation’s working capital and general corporate needs after the Effective Time. Subject to the accuracy of the date hereof representations and warranties of the Company set forth in Article IV, Parent has no does not have any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Merger Agreement (Carters Inc), Merger Agreement (Oshkosh B Gosh Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy of a debt fully executed, definitive commitment letter, other than letter from the fee letter relating thereto (collectively, the “Debt Financing Commitment”)Sources named therein, pursuant to which such Financing Sources have committed, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, to lend provide the amounts set forth debt financing described therein for the purposes of financing in connection with the transactions contemplated by this Agreement (the “Commitment Letter”, and such Commitment Letter together with any definitive credit, indentures, debentures, facilities or similar financing agreement, as replaced, amended, supplemented, modified or waived, in compliance with this Agreement and including all exhibits, schedules, and annexes to such agreements, the “Debt Financing Agreements,” and the financing contemplated pursuant to the Debt Financing Agreements, the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(b) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitmentof this Agreement, the “Financing Commitments”)Commitment Letter is in full force and effect and is a legal, pursuant valid and binding obligation of Parent, and to which the Knowledge of Parent, the other parties thereto, and is enforceable in accordance with its terms against Parent, and to the Knowledge of Parent, against each of the other parties thereto have committed, (subject to the terms applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” other laws affecting creditors’ rights generally and together with the Debt Financing Commitment, the “Financing”general principles of equity). None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to (i) constitute a material breach or default by Parent under the Commitment Letter, (ii) to the Knowledge of Parent, result in the failure of any condition contained in the Commitment Letter to be satisfied or (iii) to the Knowledge of Parent, result in the commitments provided in the Commitment Letter being unavailable on the part Closing Date. The Commitment Letter has not been amended or modified on or prior to the date of Parent or Merger Sub under any this Agreement and as of the Financing Commitmentsdate of this Agreement, no such amendment or modification is contemplated by Parent (except as may be required by the Commitment Letter or fee letters referred to below), and as of the date hereof of this Agreement, the respective commitments contained in the Commitment Letter have not been withdrawn, terminated or rescinded in any respect. The consummation of the Debt Financing is subject to no conditions precedent other than those expressly set forth in the Commitment Letter, and to the Knowledge of Parent, there are no contingencies that would permit the Financing Sources to reduce the total amount of the Debt Financing such that Parent has (and, after the consummation of the Parent Restructuring, HoldCo) would be unable to consummate the Closing, other than in each case those conditions or contingencies expressly set forth in the Commitment Letter. Except for fee letters relating to fees with respect to the Debt Financing (redacted copies of which, removing fee amounts and market “flex” provisions (none of which would adversely affect the amounts or availability of the Debt Financing), have been provided to the Company), there are no side letters or other Contracts to which any Parent Entity is a party related to the quantum or conditionality of the Debt Financing (other than as contemplated under Section 7.07(b)), other than the Commitment Letter. As of the date of this Agreement, none of the Parent Entities have reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent Parent, HoldCo and the Merger Subs on or prior to the Closing Date. Subject to The aggregate proceeds of the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the ClosingDebt Financing, together with cash, cash equivalents and short-term marketable securities held by the available cash Parent Entities, as of the Company and its Subsidiaries on the Closing DateFirst Effective Time, funds will be sufficient to enable Parent and/or HoldCo to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other all amounts required to be paid by them in cash in connection with the transactions contemplated by this Agreement, including the Preferred Stock Consideration and all payments, fees and expenses payable by them arising out of the consummation of the transactions contemplated herebyby this Agreement, the Company Notes and Credit Agreement. The obligations of HoldCo and Parent hereunder are not subject to pay any condition regarding HoldCo’s, Parent’s or any other Person’s ability to obtain financing for the transactions contemplated by this Agreement.
(c) After giving effect to the Transaction and the payment of the Merger Consideration, the Debt Financing and the payment of all related payments, fees and expensesexpenses payable by any of the Parent Entities, each of HoldCo and Parent will be solvent (as defined in the Commitment Letter as of the date hereof).
Appears in 2 contracts
Sources: Merger Agreement (Avon Products Inc), Merger Agreement
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a debt (i) an executed equity commitment letter, other than dated as of the fee letter relating thereto date hereof (collectively, the “Debt Financing CommitmentEquity Commitment Letter”), from the Guarantors, pursuant to which the lenders party thereto Guarantors have agreed, subject to the terms and conditions set forth thereinthereof, to lend invest in Parent the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Equity Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity (ii) an executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), Sources party thereto pursuant to which the parties thereto Debt Financing Sources have committed, subject to the terms and conditions set forth thereinthereof, to invest provide the amount financing in the amounts set forth therein to the Buyer Parties at or prior to the Closing (the “Equity Debt Financing”) for the purpose of funding the Merger and the related fees and expenses thereto (including all exhibits, schedules, and annexes thereto, and any Fee Letters (as defined below), collectively, the “Debt Commitment Letters” and and, together with the Debt Financing CommitmentEquity Commitment Letter, the “Commitment Letters”) together with any fee letter (which may be redacted with respect to fee amounts, pricing terms, pricing caps, “market flex” provisions, “securities demand” provisions and other economic terms that are customarily redacted in connection with transactions of this type none of which redactions cover terms that would adversely affect the conditionality, enforceability, availability or termination, or reduce the aggregate amount of, the Debt Financing) delivered in connection with the Debt Commitment Letter (the “Fee Letter”). None The Debt Financing pursuant to the Debt Commitment Letters and the Equity Financing pursuant to the Equity Commitment Letter are collectively referred to in this Agreement as the “Financing.”
(b) Except as expressly set forth in the Commitment Letters, there are no conditions precedent or other contingencies to the obligations of the Debt Financing Sources to fund the Debt Financing in accordance with the terms of the Debt Commitment Letter or to the obligations of the Guarantors to fund the full amount of the Equity Financing in accordance with the terms of the Equity Commitment Letter. Assuming satisfaction of the conditions set forth in Article VII, as of the date hereof the Buyer Parties do not have any reason to believe that any of the conditions to the Financing will not be satisfied or that the Financing will not be available to the Buyer Parties at the Closing.
(c) Assuming the satisfaction (or waiver) of the conditions set forth in Article VII and assuming the representations and warranties set forth in Section 3.7(a), the first and second sentences of Section 3.7(b) and the first sentence of Section 3.7(c) are true and correct, the Financing, when funded in accordance with the Commitment Letters, shall together with Cash on Hand provide Parent with cash proceeds at or prior to the Closing (after netting out applicable fees, expenses, original issue discount and similar premiums and charges under the Commitment Letters and any fee letters related thereto) sufficient for Parent or the Surviving Corporation and its Subsidiaries, as applicable, to pay all amounts owed by Parent at the Closing pursuant to Section 2.7, Section 2.8 and Section 6.19, any fees and expenses of or payable by the Buyer Parties in connection with the transactions contemplated hereby, in each case, payable on the Closing Date, and all amounts owed by the Surviving Corporation and its Subsidiaries pursuant to Section 2.9, which amounts, for the avoidance of doubt, shall not include any cash consideration in respect of any shares of Company Common Stock held by, or underlying the Company Warrant held by, the Buyer Parties, Holdings, any Holdings Subsidiary or TCP-ASC ACHI Series LLLP as of the Effective Time (all such amounts owed by Parent and the Surviving Corporation and its Subsidiaries, less Cash on Hand, collectively, the “Required Amount”).
(d) The Commitment Letters are (i) legal, valid and binding obligations of the Buyer Parties and, to the knowledge of Parent, of each of the other parties thereto (subject, in the case of the Debt Commitment Letters, to the effect of any Laws relating to the Enforceability Limitations), and (ii) as of the date hereof, in full force and effect. As of the date hereof, the Buyer Parties are not in default or breach under the terms and conditions of the Commitment Letters and, assuming the satisfaction of the conditions set forth in Section 7.1 and Section 7.2 of this Agreement and the completion of the Marketing Period, no event has occurred that, with or without notice, lapse of time, or both, would or, would reasonably be expected to, (w) constitute a default or breach or a failure to satisfy a condition precedent on the part of the Buyer Parties under the terms and conditions of the Commitment Letters or, to the Knowledge of the Buyer Parties, any other party to the Financing under any term or condition of the Commitment Letters, (x) make any of the representations of the Buyer Parties or, to the Knowledge of the Buyer Parties, any other party thereto set forth in the Commitment Letters inaccurate in any material respect, (y) result in any of the conditions precedent in the Commitment Letters not being satisfied on a timely basis or (z) result in any portion of the Financing Commitments has been amended being unavailable at or modified prior to the date of this Agreement, no such amendment Closing or modification is contemplated, and on the respective commitments contained Closing Date. The Buyer Parties have paid in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid full any and all commitment fees or other fees in connection with required to be paid pursuant to the Financing Commitments that are payable terms of the Commitment Letters on or prior to before the date of this Agreement. As of the date hereof, none of the Commitment Letters have been modified, amended or altered, and none of the Financing Commitments are commitments under any of the Commitment Letters have been withdrawn, terminated, amended, modified or rescinded in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretoany respect. There are no other fee letters, engagement letters, side letters or other written agreements, written Contracts or written arrangements to which any Buyer Party or any of their respective Affiliates is a party that would impose additional conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in Debt Financing or contemplated by Equity Financing or reduce the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any amount of the Financing Commitmentstaken together with Cash on Hand to be less than the Required Amount.
(e) The Buyer Parties acknowledge and agree that, and as in no event shall the receipt or availability of any funds or financing (including, for the date hereof Parent has no reason to believe that any avoidance of doubt, the conditions to the Financing contemplated Financing) by the Financing Commitments will not be satisfied Buyer Parties or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required financing or other transaction or other transactions be a condition to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesany Buyer Party’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (R1 RCM Inc. /DE), Merger Agreement (R1 RCM Inc. /DE)
Financing. Attached as Annex 5.2(e)(i(a) As of the date of this Agreement, Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of a fully executed debt commitment letter, other than dated as of the date of this Agreement (together with all exhibits, schedules, annexes and joinders thereto, as the same may be amended, modified, supplemented, extended or replaced from time to time in compliance with the terms of this Agreement, the “Debt Commitment Letter”) and fully executed fee letter letters (together with all exhibits, schedules, annexes and joinders thereto, as the same may be amended, modified, supplemented, extended or replaced from time to time in compliance with the terms of this Agreement, the “Fee Letters”) relating thereto (collectivelyexcept that the fee amounts, pricing caps and other economic terms in the Fee Letters may be redacted in a customary manner so long as no such redaction covers terms that would adversely affect the amount or conditionality of the Debt Financing) (such Debt Commitment Letter and Fee Letters are referred to collectively herein as the “Debt Financing Commitment”), among Parent and the Financing Sources party thereto (the “Commitment Parties”), pursuant to which the lenders party thereto Commitment Parties have agreed, subject to the terms and conditions set forth thereinof the Debt Financing Commitment, to lend provide or cause to be provided, on a several and not joint basis, the amounts set forth therein for financing commitments described therein. The debt financing contemplated under the purposes of financing the transactions contemplated by this Agreement (Debt Financing Commitment is referred to herein as the “Debt Financing.”). Attached as Annex 5.2(e)(ii
(b) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letterThe Debt Financing Commitment is, dated as of the date hereof, from GS Capital Partners V Fundin full force and effect. The Debt Financing Commitment is the legal, L.P. valid, binding and enforceable obligation of Parent and, to the knowledge of Parent, the other parties thereto (except to the extent enforcement may be limited by (1) the effect of bankruptcy, insolvency, reorganization, receivership, conservatorship, arrangement, moratorium or other Laws affecting or relating to creditors’ rights generally or (2) the rules governing the availability of specific performance, injunctive relief or other equitable remedies and general principles of equity, regardless of whether considered in a proceeding in equity or at law (the “Equity Remedies Exceptions”)). As of the date hereof, (i) neither Parent nor, to the knowledge of Parent, any other counterparty to the Debt Financing Commitment is in breach of any of its covenants or other obligations set forth in, or is in default under, the Debt Financing Commitment and (ii) assuming the accuracy of the representations and warranties in Article 3 (to the extent that a breach of any such representation or warranty would adversely affect the satisfaction by Parent of the conditions set forth in the Debt Financing Commitment” and together ), no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to (A) constitute or result in a breach or default on the part of Parent or Merger Sub (or, to the knowledge of Parent, any of the Commitment Parties) under the Debt Financing Commitment, the “Financing Commitments”), pursuant (B) constitute or result in a failure by Parent to which the parties thereto have committed, subject satisfy any condition to the terms and conditions funding of the Debt Financing set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with in the Debt Financing Commitment, the “Financing”). None or (C) otherwise result in any portion of the Debt Financing Commitments has been amended or modified prior not being available on the Closing Date, assuming the conditions to the Debt Financing are satisfied or waived in accordance with the terms thereof. As of the date hereof, Parent has not received any notice from any party to the Debt Financing Commitment with respect to (i) any actual or potential breach or default on the part of this Agreement, no Parent or any other party to the Debt Financing Commitment or (ii) any intention of such party to terminate the Debt Financing Commitment or to not provide all or any portion of the Debt Financing. No amendment or modification (other than to add lenders, lead arrangers, bookrunners or syndication agents) to, or withdrawal, termination or rescission of, the Debt Financing Commitment is currently contemplated, and the respective commitments contained in the Debt Financing Commitments Commitment have not been withdrawn or rescinded in any respect. Assuming the satisfaction of the conditions set forth in Section 6.1 and Section 6.3 hereof and assuming the accuracy of the representations and warranties in Article 3 (to the extent that a breach of any such representation or warranty would adversely affect the satisfaction by Parent has fully paid any and all commitment fees or other fees of the conditions set forth in connection with the Debt Financing Commitments that are payable on or prior to Commitment), as of the date hereof, Parent and Merger Sub: (i) have no reason to believe (both before and after giving effect to any “flex” provisions contained in the Debt Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and Commitment) that they will be unable to satisfy on a timely basis any condition to the knowledge funding of Parentthe Debt Financing and (ii) know of no fact, circumstance or condition that would reasonably be expected to (A) cause the other parties theretoDebt Financing Commitment to be terminated, withdrawn, modified, repudiated or rescinded or become unenforceable (except to the extent enforcement may be limited by the Remedies Exceptions) or (B) otherwise cause the full amount (or any portion) of the funds contemplated to be available under the Debt Financing Commitment to not be available to Parent on the Closing Date. There As of the date hereof, there are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing other than those expressly set forth in the Debt Financing Commitment. There are no side letters or other agreements, contracts or arrangements, whether written or oral, imposing any additional conditions or contingencies upon the funding of the full amount, of the Debt Financing, or that would otherwise reasonably be expected to adversely affect the conditionality, enforceability or availability of the Debt Financing, other than as expressly set forth in the Debt Financing Commitment. All commitment fees or contemplated by other fees required to be paid under the Debt Financing Commitments. No event has occurred which, with Commitment on or without notice, lapse prior to the date of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitmentsthis Agreement have been paid in full, and Parent will pay all additional fees under the Debt Financing Commitment as of the date hereof they become due. Parent has no reason to believe understands and acknowledges that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to under the terms and conditions contained in of this Agreement and Agreement, Parent’s obligation to consummate the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt transactions contemplated by this Agreement is not in any way contingent upon or otherwise subject to Parent’s consummation of any financing arrangements, Parent’s obtaining of any financing or the availability, grant, provision or extension of any financing to Parent. To the extent this Agreement must be in a form acceptable to the Financing Commitments) and any other amounts required to be paid in connection with Sources, the consummation of the transactions contemplated hereby, and to pay all related fees and expensesFinancing Sources have approved this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Maxlinear Inc), Merger Agreement (Maxlinear Inc)
Financing. Attached as Annex 5.2(e)(i(a) The Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy of (i) the executed Debt Commitment Letter and (ii) the executed Debt Fee Letter (which may be redacted as to fees, yield or interest rate caps, original issue discount amounts, economic terms, flex terms and successful syndication level and other terms that are customarily redacted in connection with transactions of this type and would not adversely affect the conditionality, enforceability, availability, net cash proceeds or principal amount (except, in the case of the net cash proceeds or principal amount, as a debt commitment letterresult of increased original issue discount or upfront fees resulting from the exercise of “price flex”) of the Debt Financing). Except as expressly set forth in the Debt Commitment Letter and Debt Fee Letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject there are no conditions precedent to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes obligations of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject Sources party to the terms and conditions set forth therein, Debt Commitment Letter to invest the amount set forth therein (the “Equity Financing” and together with provide the Debt Financing Commitment, or any contingencies that would permit the “Financing”). None Debt Financing Sources to reduce the total amount of the Debt Financing, including any condition or other contingency relating to the total amount or availability of the Debt Financing Commitments has been amended or modified prior pursuant to any market flex provision. As of the date of this Agreement, no such amendment neither the Parent nor any Subsidiary of the Parent has entered into any agreement, side letter or modification is contemplatedother arrangement relating to the debt financing of the Transactions, in each case, that would reasonably be expected to adversely affect the conditionality, enforceability, availability or principal amount of the Debt Financing, other than as set forth in the Debt Commitment Letter and the respective Debt Fee Letter. The commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn or rescinded in any respectrespect prior to the date of this Agreement. As of the date of this Agreement, the Debt Commitment Letter is in full force and effect and represents (A) a valid, binding and enforceable obligation of the Parent and (B) to the Parent’s Knowledge, a valid, binding and enforceable obligation of each other party thereto, in the case of each of clauses (A) and (B), except as may be limited by applicable Bankruptcy and Equity Exceptions. The Parent or a Subsidiary of the Parent has fully paid (or caused to be paid) any and all commitment fees or and other fees in connection with the Financing Commitments amounts that are payable required to be paid pursuant to the terms of the Debt Commitment Letter and the Debt Fee Letter on or prior to the date hereofof this Agreement. As of the date of this Agreement, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent’s Knowledge, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to constitute a breach or default on the part of the Parent or Merger Sub any other party thereto under any of the Financing Commitments, and as Debt Commitment Letter. As of the date hereof of this Agreement, assuming the satisfaction of all of the conditions in Section 6.1 and Section 6.3 of this Agreement, the Parent has no reason to believe that any of the conditions to funding set forth in the Financing contemplated by the Financing Commitments Debt Commitment Letter will not be satisfied or satisfied, nor does the Parent have Knowledge, as of the date of this Agreement, that the Debt Financing will not be made available to the Parent on the Closing Date. Subject to Date in accordance with the terms of the Debt Commitment Letter.
(b) Assuming the satisfaction of all of the conditions in Section 6.1 and conditions contained Section 6.3 of this Agreement, the proceeds of the Debt Financing (after giving effect to any market flex provision), if funded in this Agreement accordance with the Debt Commitment Letter, together with any available cash of the Parties and their respective Subsidiaries, shall constitute sufficient funds for the Financing Commitments, Parent and Merger Sub will have at to (i) pay the ClosingCash Consideration, together (ii) pay the Payoff Amount pursuant to Section 5.14, and (iii) pay all related fees and expenses of the Parent, Merger Sub and their respective Representatives pursuant to this Agreement (such payments, the “Required Uses”). For the avoidance of doubt, in no event shall the receipt or availability of any financing, including the Debt Financing, by the Parent or any Subsidiary of the Parent be a condition to any of the Parent’s or Merger Sub’s obligations hereunder.
(c) Neither the Parent nor Merger Sub is entering into this Agreement or the transactions contemplated hereby with the available cash actual intent to hinder, delay or defraud either present or future creditors of the Parent, Merger Sub, the Surviving Corporation or any of their respective Subsidiaries. Assuming the satisfaction of the conditions set forth in Article VI, the accuracy of the representations and warranties of the Company in Article II and the estimates, projections or forecasts provided by or on behalf of the Company and its Subsidiaries to the Parent prior to the date hereof have been prepared in good faith on assumptions that were, and continue to be, reasonable at and immediately after the Closing DateEffective Time, funds sufficient to pay then immediately following the cash portion consummation of the aggregate Per Share Merger Consideration (and transactions contemplated by this Agreement, including any repayment or refinancing of debt contemplated by in this Agreement or the Financing CommitmentsDebt Commitment Letter, (i) the present fair saleable value (determined on a going concern basis) and any other amounts required to be paid in connection with the consummation fair value of the transactions contemplated herebyassets of the Parent, Merger Sub, the Surviving Corporation and their respective Subsidiaries, taken as a whole on a consolidated basis, will be greater than the total amount of their probable liabilities (including a reasonable estimate of the probable amount of all contingent liabilities), (ii) the Parent, Merger Sub, the Surviving Corporation and their respective Subsidiaries, taken as a whole on a consolidated basis, will be able to pay their respective debts and obligations in the ordinary course of business as they mature and become due, and (iii) the Parent, Merger Sub, the Surviving Corporation and their respective Subsidiaries, taken as a whole on a consolidated basis, will not have, or have access to, unreasonably small capital to pay all related fees carry on their respective businesses and expensesthe businesses in which they are about to engage. For the purposes of this Section 3.13(c), a reasonable estimate of the probable amount of any contingent liability at any time shall be computed as the amount that would reasonably be expected to become an actual and matured liability.
Appears in 2 contracts
Sources: Merger Agreement (Kimball International Inc), Merger Agreement (Kimball International Inc)
Financing. Attached as Annex 5.2(e)(i) to the Parent Disclosure Letter is a Exhibit E sets forth true and complete copy fully executed copies of a debt the commitment letterletters, other than including all exhibits, schedules, annexes and amendments to such letters in effect as of the fee letter relating thereto date of this Agreement (collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinthereof, each of the parties thereto (other than RH) have severally agreed to lend the amounts set forth therein for (the purposes provision of financing the transactions contemplated by this Agreement (such funds as set forth therein, the “Debt Financing”). Attached as Annex 5.2(e)(ii) to for the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions purposes set forth thereinin such Debt Commitment Letters. The Debt Commitment Letters have not been amended, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended restated or otherwise modified or waived prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Debt Commitment Letters have not been withdrawn withdrawn, modified or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date hereofof this Agreement. As of the date of this Agreement, and the Financing Commitments are each Debt Commitment Letter is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations obligation of ParentRH, Merger Sub and and, to the knowledge of ParentRH, each of the other parties thereto, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws relating to or affecting the rights and remedies of creditors generally and subject to general principles of equity (regardless of whether considered in a proceeding in equity or at Law). There are no conditions precedent or other contingencies related to the funding portion of the full amount of Debt Financing to be funded on the FinancingClosing Date, other than as expressly set forth in the Debt Commitment Letters. Subject to the terms and conditions of the Debt Commitment Letters, and assuming the accuracy in all respects of Battery’s representations and warranties with respect to Battery and its Subsidiaries, taken as a whole, in this Agreement and any of the Ancillary Agreements to which it is a party, the net proceeds contemplated from the Debt Financing, together with other financial resources of RH, including, the aggregate proceeds available from the issuance of shares of Special RH Preferred Stock, and including cash on hand and marketable securities of Parent, the Merger Subsidiaries, RH, Battery and the respective Subsidiaries of RH and Battery on the Closing Date, will, in the aggregate, be sufficient for the satisfaction of all of Parent’s and the Merger Subsidiaries’ obligations under this Agreement, including the payment of any amounts required to be paid pursuant to Article I or contemplated by Article II, and the Financing Commitmentspayment of any debt required to be repaid in connection with the Transaction and of all fees and expenses reasonably expected to be incurred in connection herewith. No As of the date of this Agreement, (i) assuming the accuracy of the Battery’s representations and warranties contained in Section 3.5 hereof, no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default), in each case, on the part of Parent or Merger Sub RH under the Debt Commitment Letters or, to the knowledge of RH, any other party to the Debt Commitment Letters, and (ii) subject to the satisfaction of the Financing Commitmentsconditions contained in Sections 7.1 and 7.2 hereof (other than Section 7.1(f)), and as of the date hereof Parent has no reason to believe RH does not have any knowledge that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing or any other funds necessary for the satisfaction of all of Parent’s and the Merger Subsidiaries’ obligations under this Agreement and the payment of any debt required to be repaid in connection with the Transaction and of all fees and expenses reasonably expected to be incurred in connection herewith will not be made available to Parent on the Closing Date. Subject ; provided, that no representation or warranty is being made herein with respect to the terms and conditions contained condition set forth as item 14 on Exhibit E to the Debt Commitment Letter with respect to the minimum amount of Availability (as defined in this Agreement and the Financing CommitmentsDebt Commitment Letter). RH has fully paid, Parent and Merger Sub will have at the Closingon behalf of Parent, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid prior to the date of this Agreement pursuant to the Debt Commitment Letters. The Lead Arrangers are not prohibited by any contractual arrangement with any Harbinger Party or any Affiliate thereof, including RH, from providing financing to any other Person in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesan Alternative Proposal.
Appears in 2 contracts
Sources: Merger Agreement (Spectrum Brands, Inc.), Merger Agreement (Harbinger Capital Partners Master Fund I, Ltd.)
Financing. Attached as Annex 5.2(e)(i) Buyer has delivered to the Parent Disclosure Letter is Seller a true true, complete and complete correct copy of a debt the executed commitment letter, other than the fee letter relating thereto dated as of October 28, 2012 among ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc., UBS Loan Finance LLC, UBS Securities LLC, Credit Suisse AG, Credit Suisse Securities (USA) LLC, and KeyBank National Association (such commitment letter, including all exhibits, schedules, annexes and amendments thereto, collectively, the “Debt Financing CommitmentCommitments”), pursuant to which which, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc., UBS Loan Finance LLC, UBS Securities LLC, Credit Suisse AG, Credit Suisse Securities (USA) LLC, and KeyBank National Association have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to for the Parent Disclosure Letter is a true and complete copy purpose of funding the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)transactions contemplated by this Agreement. None of the Debt Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedand, and as of the date hereof, (a) the respective commitments contained in the Debt Financing Commitments have not been withdrawn withdrawn, modified, amended, terminated or rescinded in any respectrespect and (b) no such withdrawal, termination, rescission, amendment or modification is contemplated (other than amendments and modifications permitted under Section 6.5). Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereof, and there are no side letters or other agreements, Contracts or arrangements to which Buyer or any of its Affiliates is a party that could affect the availability of the Debt Financing on the Closing Date. As of the date hereof, the Debt Financing Commitments are in full force and effect and are constitute the validlegal, valid and binding and enforceable obligations of ParentBuyer and, Merger Sub and to the knowledge of ParentBuyer, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingDebt Financing (including any “flex” provisions), other than as expressly set forth in or contemplated by the Debt Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Stock Purchase Agreement, Stock Purchase Agreement (Patheon Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of a debt commitment letteran executed Commitment Letter (including all exhibits, other than annexes, schedules and term sheets and the executed fee letters attached thereto or contemplated thereby (provided, that provisions in the fee letter letters or Commitment Letter relating thereto solely to fees and economic terms agreed to by the parties may be redacted (collectivelynone of which redacted provisions adversely affect the availability of or impose additional conditions on, the availability of the Debt Financing at the Closing)), dated as of September 19, 2016 (such Commitment Letter as the same may be amended or replaced pursuant to, and in accordance with the terms and conditions of, Section 5.18, is referred to herein as the “Debt Financing Commitment”), among Parent and Lender, pursuant to which the lenders party thereto have which, among other things, Lender has agreed, subject to the terms and conditions set forth thereinof the Debt Financing Commitment, to lend provide or cause to be provided, the amounts set forth therein for financing commitments specified in Section 4.27 of the purposes Parent Disclosure Letter, the proceeds of which (including proceeds of any notes offering contemplated thereby) are to be used to fund the Cash Consideration, refinance outstanding indebtedness of the Company and pay transaction fees and expenses. The financing commitments contemplated under the transactions contemplated by this Agreement (Debt Financing Commitment, as amended or replaced in compliance with Section 5.18, are referred to herein, individually and collectively, as the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Debt Financing Commitments Commitment that are payable on or prior to the date hereof and, to the knowledge of Parent, the Debt Financing Commitment is, as of the date hereof, and the Financing Commitments are in full force and effect effect. The Debt Financing Commitment is a legal, valid and are the validbinding obligation of Parent and, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent The Debt Financing Commitment (or other contingencies related to the funding any Debt Financing contemplated thereunder) has not been or will not be amended or modified, except as consistent with Section 5.18, and, as of the full amount date hereof, the Debt Financing Commitment has not been withdrawn or rescinded in any respect. As of the Financingdate hereof, other than as set forth in or contemplated by the Financing Commitments. No (i) no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub under any the Debt Financing Commitment, and (ii) subject to the accuracy of the Financing Commitments, representations and as warranties of the date hereof Company set forth in Article III hereof, the performance by the Company and its Subsidiaries of their obligations contained in this Agreement and the satisfaction of the conditions set forth in Section 6.1 and Section 6.2 hereof, Parent has no reason to believe that it will be unable to satisfy on a timely basis any material term or condition of the conditions closing to the Financing contemplated be satisfied by the Debt Financing Commitments will not be satisfied Commitment on or that the Financing will not be made available prior to Parent on the Closing Date. Subject As of the date hereof, there are no conditions precedent related to the terms funding of the full amount of the Debt Financing other than as expressly set forth in Section 5 and Annex III of the Debt Financing Commitment. As of the date hereof, there are no side letters or other agreements, contracts or arrangements (except for customary fee letters, which do not contain provisions that impose any additional conditions contained to the funding of the Debt Financing not otherwise set forth in this Agreement and the Debt Financing Commitments, Parent and Merger Sub will have at Commitment) related to the Closingfunding of the full amount of the Debt Financing. The aggregate proceeds contemplated by the Debt Financing Commitment, together with the available cash of Parent and the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration Date (if any) and any repayment or refinancing of debt Alternative Financing (if any), will be sufficient for the Parent Entities to consummate the Mergers upon the terms contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesAgreement.
Appears in 2 contracts
Sources: Merger Agreement (Isle of Capri Casinos Inc), Merger Agreement (Eldorado Resorts, Inc.)
Financing. Attached Parent has delivered to the Company true, correct and complete copies, as Annex 5.2(e)(iof the date of this Agreement, of (i) the executed securities purchase agreement from private investment funds affiliated with GTCR LLC as well as existing indirect owners of Parent (the “Equity Purchase Agreement”) to invest, subject to the Parent Disclosure terms and conditions therein, cash in the aggregate amounts set forth therein (the “Equity Financing”), (ii) an executed commitment letter and a Redacted Fee Letter is a true from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and complete copy of a debt commitment letter, other than the fee letter relating thereto Barclays Bank PLC (collectively, the “Debt Commitment Letter” and, together with the Equity Purchase Agreement, collectively referred to as the “Financing CommitmentLetters”), pursuant to which the lenders party thereto (collectively, the “Lenders”) have agreedcommitted, subject to the terms and conditions set forth therein, to lend debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement and related fees (being collectively referred to as the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, collectively referred to as the “Financing”). None of the Financing Commitments Letters has been amended or modified prior to the date of this Agreement and as of the date of this Agreement, no such amendment or modification is contemplatedcontemplated (other than amendments or modifications that are permitted by Section 4.10), and as of the date of this Agreement, the respective obligations and commitments contained in the Financing Commitments Letters have not been withdrawn or rescinded in any respect. Except for fee letters and engagement letters with respect to the Financing, as of the date hereof, there are no side letters or agreements (whether written or oral) to which Parent, Merger Sub or any of their Affiliates is a party related to the funding or investing, as applicable, of the Financing that could affect the availability of the Financing, or which include conditions precedent to the obligations of the parties thereunder, other than as expressly set forth in the Financing Letters delivered to the Company prior to the date hereof. Parent has fully paid or caused to be fully paid any and all commitment fees or other fees in connection with the Financing Commitments Letters that are payable on or prior to the date hereof, and as of the date hereof, the Financing Commitments Letters are in full force and effect and are the legal, valid, binding and enforceable obligations of ParentCII, Parent and Merger Sub and Sub, as the case may be, and, to the knowledge Knowledge of ParentParent or Merger Sub, each of the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in or contemplated by the Financing CommitmentsLetters. No As of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to constitute a default or breach on the part of CII, Parent or Merger Sub or, to the Knowledge of Parent or Merger Sub, any other party thereto under any of the Financing Commitments, and as Letters. As of the date hereof hereof, Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Letters applicable to it or CII will not be satisfied or that satisfied. Assuming the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained is funded in this Agreement and accordance with the Financing CommitmentsLetters, Parent and Merger Sub will have at Sub, in the Closing, aggregate and together with the available cash and cash equivalents of the Company Company, will have at and its Subsidiaries on after the Closing Date, funds sufficient to (i) pay the cash portion of aggregate Merger Consideration, the aggregate Per Share Merger Option Consideration and the aggregate Company RSU Consideration, (and any ii) finance the repayment or refinancing of debt contemplated by this Agreement or the either Financing CommitmentsLetter, (iii) pay any and any other amounts all fees and expenses required to be paid by Parent, Merger Sub and the Surviving Corporation in connection with the consummation Merger and the Financing, and (iv) satisfy all of the transactions other payment obligations of Parent, Merger Sub and the Surviving Corporation contemplated hereby, and to pay all related fees and expenseshereunder.
Appears in 2 contracts
Sources: Merger Agreement (Zayo Group LLC), Merger Agreement (Abovenet Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent shall use its reasonable best efforts to obtain the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to on the terms and conditions set forth thereindescribed in the Financing Commitments, including using its reasonable best efforts (i) to lend negotiate definitive agreements with respect thereto on the amounts set forth therein terms and conditions contained in the Financing Commitments, (ii) to satisfy all conditions applicable to Parent, or Merger Sub in such definitive agreements, (iii) to comply with its obligations under the Financing Commitments, (iv) to obtain alternative financing commitments on terms no less favorable to Parent, Merger Sub or the Company than the current Financing Commitments if the current Financing Commitments become unavailable, and (v) to not agree to any amendment or modification to be made to, or any waiver of any material provision or remedy under the Financing Commitments, if such amendment, modification, waiver or remedy reduces the aggregate amount of the Financing or amends the conditions precedent to the Financing in a manner that would reasonably be expected to delay or prevent the consummation of the Merger or make the funding of the Financing less likely to occur. Parent shall give the Company prompt notice upon becoming aware of any material breach by any party of the Financing Commitments or any termination of the Financing Commitments. Parent shall keep the Company informed on a reasonably current basis and in reasonable detail of the status of its efforts to arrange the Debt Financing and provide to the Company copies of all documents related to the Financing Commitments and the Financing (other than any ancillary documents subject to confidentiality agreements, including fee letters and engagement letters). In the event that (i) all conditions in Sections 6.1 and 6.3 have been satisfied (or, with respect to certificates to be delivered at the Closing, are capable of being satisfied upon the Closing) at the time when the Closing would have occurred but for the purposes failure of the Financing Commitments to be funded, (ii) the financing provided for by the Debt Commitments has been funded or Parent has received written notification that it will be funded at the Closing if the Buyer Group Commitments are funded at the Closing, and (iii) the Company has irrevocably confirmed that if the Financing is funded such that the Closing pursuant to Section 1.2 could occur, the Company is willing to waive all conditions in Section 6.2, then Parent shall enforce its rights under the Financing Commitments to cause the Financing Commitments to be funded at the Closing. If any portion of the Debt Financing becomes unavailable on the terms and conditions contemplated by the Debt Commitment Letters, (A) Parent and Merger Sub shall promptly notify the Company and (B) Parent and Merger Sub shall use their reasonable best efforts to seek to arrange and obtain alternative financing from alternative sources on terms no less favorable to Parent, Merger Sub or the Company than the current Financing Commitments in an amount sufficient to consummate the merger which would not reasonably be expected to prevent, materially impede or delay the consummation of the transactions contemplated by this Agreement Agreement. Parent shall give the Company prompt notice of any material breach by any party to the Financing Commitments or of any condition not likely to be satisfied, in each case, of which Parent or Merger Sub becomes aware or any termination of the Financing Commitments. Parent and Merger Sub acknowledge and agree that the obtaining of the Financing, or any alternative Financing, is not a condition to Closing. In connection with its obligations under this Section 5.9, Parent shall not be restricted from amending, modifying or replacing the Debt Commitment Letters with new Financing Commitments, including through co-investment by or financing from one or more other additional parties (the “Debt FinancingNew Financing Commitments”). Attached as Annex 5.2(e)(ii) if the same does not reduce the aggregate amount of Parent’s financing or amend the conditions to drawdown in a manner adverse to the Parent Disclosure Letter is a true and complete copy Company’s interests hereunder or otherwise delay or prohibit consummation of the equity commitment letterMerger or other transactions contemplated hereby.
(b) The Company shall provide, dated as and shall cause its Subsidiaries and each of its and their respective Representatives, including legal and accounting, to provide, all cooperation reasonably requested by Parent and that is customary in connection with the arrangement of the date hereofFinancing, from GS Capital Partners V Fundand the other transactions contemplated by this Agreement, L.P. provided that such requested cooperation does not unreasonably interfere with the ongoing operations of the Company, including (i) providing information as promptly as practicable relating to the “Equity Financing Commitment” Company and together its Subsidiaries to the parties providing the Financing, (ii) participating in a reasonable number of meetings, drafting sessions and due diligence sessions in connection with the Financing, (iii) providing assistance in the preparation of (A) one or more offering documents or confidential information memoranda for any of the Debt Financing Commitment(including the execution and delivery of one or more customary representation letters in connection therewith) and (B) materials for rating agency presentations, (iv) reasonably cooperating with the marketing and syndicating efforts for any of the Debt Financing, including providing (A) assistance in the preparation for, and participating in, meetings, due diligence sessions and similar presentations to and with, among others, prospective lenders, investors and rating agencies and (B) for the use of the Company’s logo in connection with such marketing and syndicating efforts (provided that such logo is used solely in a manner that is not intended to nor reasonably likely to harm or disparage the Company or its Subsidiaries or the reputation or goodwill of the Company or any of its Subsidiaries and its or their marks), (v) executing and delivering (or obtaining from advisors), and causing its Subsidiaries to execute and deliver (or obtain from advisors), customary certificates (including solvency certificates), comfort letters, legal opinions or other documents and instruments relating to guarantees, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject pledge of collateral and other matters ancillary to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together Financing as may be reasonably requested by Parent in connection with the Financing and otherwise facilitating the pledge of collateral and providing of guarantees contemplated by the Debt Financing CommitmentCommitment Letter; provided, the “Financing”). None however, that no obligation of the Company or any of its Subsidiaries under any such certificate, document or instrument (other than the representation letters referred to above) shall be effective until the Effective Time and none of the Company or any of its Subsidiaries shall be required to pay any commitment or other similar fee or incur any other liability in connection with the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedEffective Time, and (vi) providing Parent with (A) customary pay-off letters with respect to the current credit facilities of the Company and its Subsidiaries and (B) recordable form lien releases, canceled notes and other documents reasonably requested by Parent prior to the Closing indicating that all Liens resulting from such credit facilities shall be satisfied, terminated and discharged on or prior to the Closing Date. The Company shall request, and Parent shall promptly, upon such request, reimburse Company for all reasonable and documented out-of-pocket costs incurred by the Company or any of its Subsidiaries in connection with the foregoing cooperation and shall indemnify and hold harmless the Company, its Subsidiaries, and their respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid Representatives from and against any and all commitment fees liabilities, losses, damages, claims, costs, expenses, interest, awards, judgments and penalties suffered or other fees incurred by them in connection with such cooperation or the Financing. All material, non-public information regarding the Company and its Subsidiaries provided to Parent or Merger Sub or their Representatives pursuant to this Section 5.9 shall be kept confidential by them in accordance with the Confidentiality Agreements except for disclosure to potential financing sources as required in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required then subject to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensescustomary confidentiality protections).
Appears in 2 contracts
Sources: Merger Agreement (Goldman Sachs Group Inc/), Merger Agreement (Waste Industries Usa Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent and Purchaser will have sufficient funds to enable Purchaser to acquire all the outstanding Shares in the Offer at the Purchase Date and to consummate the Merger at the Effective Time.
(b) Parent has provided to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(iii) to the Parent Disclosure Letter is a true and complete copy of the equity fully executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth thereinof this Agreement, to invest the provide equity financing in an aggregate amount set forth therein (the “Equity Commitment Letter”) and (ii) fully executed commitment letter(s), dated as of the date of this Agreement (the “Debt Commitment Letter”) pursuant to which Credit Suisse (the “Lenders”) have committed, subject to the terms thereof, to provide debt financing in an aggregate amount set forth therein (being collectively referred to as the “Debt Financing,” and together with the Debt Financing Commitment, financing referred to in clause (i) being collectively referred to as the “Financing”). None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, neither the Equity Commitment Letter or Debt Commitment Letter has been amended or modified, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments such letters have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments Equity Commitment Letter and the Debt Commitment Letter that are payable on or prior to the date hereof, and the Financing Commitments Equity Commitment Letter and the Debt Commitment Letter are in full force and effect and are the valid, binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, of the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or expressly contemplated by the Financing CommitmentsEquity Commitment Letter or the Debt Commitment Letter, respectively. No event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub Purchaser under any term or condition of the Financing CommitmentsEquity Commitment Letter and the Debt Commitment Letter and, and as of the date hereof of this Agreement, Parent has no does not have any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on Purchaser at the Closing Date. Subject dates that Purchaser becomes obligated to accept for payment and pay for Shares pursuant to the terms Offer and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the ClosingEffective Time, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesas applicable.
Appears in 2 contracts
Sources: Merger Agreement (Sunterra Corp), Merger Agreement (Diamond Resorts, LLC)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete, accurate and complete fully executed copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with among the Debt Financing CommitmentSources party thereto and Merger Sub and the related fee letter, redacted in a customary manner solely with respect to the “Financing Commitments”fees, pricing caps, and certain economic terms (including customary market flex terms), which redacted information does not adversely affect the amount, availability, or conditionality of the funding of the Debt Financing, in each case, including all exhibits, schedules, annexes and amendments to such letters in effect as of the date hereof, pursuant to which the parties thereto have committed, and subject to the terms and conditions thereof, the Debt Financing Sources have committed to lend the amounts set forth therein to Merger Sub (the provision of such funds as set forth therein, to invest the amount “Debt Financing”) for the purposes set forth therein (the “Equity Financing” and together with the Debt Financing Commitmentsuch debt commitment letter, the “FinancingDebt Commitment Letter”). None The Debt Commitment Letter has not been amended, restated or otherwise modified or waived prior to the execution and delivery of this Agreement, and the commitments contained in the Debt Commitment Letter have not been withdrawn, rescinded, amended, restated or otherwise modified in any respect prior to the execution and delivery of this Agreement and, to the knowledge of Parent, no such withdrawal, rescission, amendment, restatement, modification or waiver is contemplated (other than any such amendment, modification, or restatement to add lenders, lead arrangers, bookrunners, syndication agents or similar entities who have not executed the Debt Commitment Letter as of the Financing Commitments has been amended or modified prior to date hereof). As of the date of this Agreement, no such amendment or modification the Debt Commitment Letter is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations obligation of Parent, Merger Sub and and, to the knowledge of Parent, each of the other parties thereto, subject, in each case, to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity. There are no conditions precedent or other contingencies directly or indirectly related to the funding of the full Debt Financing pursuant to the Debt Commitment Letter except as expressly set forth therein. At the Closing, after taking into account the Debt Financing, cash on hand, available lines of credit and other sources of immediately available funds available to Parent, Parent and Merger Sub will have funds in an amount sufficient to pay all of Parent’s and Merger Sub’s obligations under this Agreement, including the payment of the Financingaggregate Offer Price and Merger Consideration, other than as set forth the payment of any amounts outstanding under the Company’s Existing Credit Agreement, all cash amounts to be paid with respect to the outstanding Company Equity Awards pursuant to Section 3.08 and all fees and expenses expected to be incurred in or contemplated by connection therewith (such amount, the Financing Commitments“Required Amount”). No As of the date of this Agreement, to the knowledge of Parent, no event has occurred whichor circumstance exists that, with or without notice, lapse of time or both, would (A) constitute a material breach or default of any provision of the Debt Commitment Letter by Parent or any other party thereto or otherwise cause any portion of the Debt Financing to be unavailable or (B) otherwise result in the Debt Financing not being available on a timely basis at or prior to the part time that the Closing is required to occur pursuant to the terms of this Agreement in order to consummate the transactions contemplated by this Agreement. As of the date hereof, no Debt Financing Source has notified Parent or Merger Sub of its intention to terminate the Debt Commitment Letter or not provide the Debt Financing. As of the date of this Agreement there are no side letters or other agreements, Contracts, arrangements or understandings (written or oral) directly or indirectly related to the funding of the Debt Financing other than as expressly set forth in the Debt Commitment Letter. Parent and Merger Sub have paid in full any and all commitment fees and other fees required to be paid on or prior to the date hereof under the terms of the Debt Commitment Letter. As of the date of this Agreement, each of Parent Table of Contents and Merger Sub (A) is not aware of any fact, event or other occurrence that makes any of the representations or warranties of Parent or Merger Sub under in the Debt Commitment Letter inaccurate in any of the Financing Commitments, material respect and as of the date hereof Parent (B) has no reason to believe that any of the conditions precedent to the funding of the Debt Financing contemplated by the Financing Commitments will not be satisfied on a timely basis or that the Debt Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Sonic Financial Corp), Merger Agreement (Speedway Motorsports Inc)
Financing. Attached as Annex 5.2(e)(i(a) to Parent understands and acknowledges that the obligations of the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than Merger Sub to consummate the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, Transactions are not in any way contingent upon or otherwise subject to the terms and conditions set forth thereinParent’s consummation of any financing arrangement, to lend the amounts set forth therein for Parent’s obtaining of any financing or the purposes availability, grant, provision or extension of any financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent.
(b) Parent Disclosure Letter is a true has delivered to the Company true, complete and complete copy correct copies of (i)
(1) the equity fully executed commitment letter, dated as of the date hereofhereof (including all exhibits, from GS Capital Partners V Fundannexes, L.P. (the “Equity Financing Commitment” schedules and together with the Debt Financing Commitmentterm sheets attached thereto, the “Financing CommitmentsOpCo Debt Commitment Letter”), among Credit Suisse AG, Credit Suisse Loan Funding LLC and Parent, pursuant to which the parties Parent Financing Sources party thereto have committedagreed, on the terms and subject to the terms and conditions set forth therein, to invest provide Parent with debt financing in the amount amounts set forth therein therein, the proceeds of which are to be used to fund the Transactions and fees in connection with such debt financing (the “Equity OpCo Debt Financing”), (2) the fully executed warehouse facility commitment letter, dated as of the date hereof (including all exhibits, annexes, schedules and term sheets attached thereto, the “AssetCo Debt Commitment Letter” and and, together with the OpCo Debt Commitment Letter, the “Debt Commitment Letters”; the Debt Commitment Letters together with the Equity Commitment Letter, the “Financing CommitmentCommitment Letters”), between Credit Suisse AG, Cayman Islands Branch and the Parent, pursuant to which the Parent Financing Sources party thereto have agreed, on the terms and subject to the conditions set forth therein, to provide Parent with debt financing in the amounts set forth therein, the proceeds of which are to be used to fund the Transactions (the “AssetCo Debt Financing” and, together with the OpCo Debt Financing, the “Debt Financing”; the Debt Financing, together with the Equity Financing, the “Financing”). None , and (3) the fully executed fee letters relating to each of the Debt Commitment Letters; provided that the fee amounts, flex provisions and other economic terms (other than any such term that would (x) reduce the aggregate amount of the Debt Financing Commitments has been amended or modified prior (y) impose any additional conditions or other contingencies (or otherwise amend, modify or expand any conditions or other contingencies in a manner adverse to Parent) or adversely affect the availability or timing of the funding of the Debt Financing) may be redacted in a customary manner; and (ii) the Equity Commitment Letter, which provides, and shall continue to provide, that the Company is a third party beneficiary thereto with respect to the date provisions specified therein.
(c) As of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and each of the Financing Commitments are Commitment Letters is in full force and effect and are the is a legal, valid, binding and enforceable obligations obligation of Parent, Merger Sub and Parent (to the knowledge extent party thereto) and, to the Knowledge of Parent, the other parties thereto, in each case subject to the Enforceability Exceptions. There are no conditions precedent Assuming due and valid execution by each other party thereto (in the case of the Debt Commitment Letters only), each of the Financing Commitment Letters is enforceable against the parties thereto in accordance with its terms, subject to the Enforceability Exceptions. As of the date hereof, none of the Financing Commitment Letters have been amended, supplemented or modified in any respect, and the respective commitments contained therein have not been withdrawn, terminated, rescinded or otherwise modified in any respect, nor, to Parent’s Knowledge, is any such amendment, supplement, modification, withdrawal, termination or rescission currently contemplated or the subject of discussions (other than to add lenders, lead arrangers, bookrunners, syndication agents or other contingencies related to the funding similar entities who had not executed a Debt Commitment Letter as of the full date hereof, in each case, as contemplated by and in accordance with such Debt Commitment Letter; provided, however, that (i) any such added lender, lead arranger, bookrunner, syndication agent or other similar entity is a Qualified Bank, and (ii) in no event shall the addition of any such lender, lead arranger, bookrunner, syndication agent or other similar entity reduce the aggregate amount of the FinancingDebt Financing to be funded on the Closing Date (including by increasing the amount of fees to be paid or original issue discount) from that contemplated in the Debt Commitment Letters (unless, other than as set forth in each case, the amount of the Equity Financing has been increased by a corresponding amount, or contemplated by the Financing CommitmentsCompany has given its prior written consent thereto)). No As of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would constitute a default or material breach on the part of Parent or, to the Knowledge of the Parent, any other party thereto under any Financing Commitment Letter. As of the date hereof, Parent is not aware of any fact, event or Merger Sub under other occurrence that makes any of the representations and warranties of Parent in any Financing CommitmentsCommitment Letter inaccurate in any material respect. There are no conditions precedent or other contingencies directly or indirectly related to the funding of the full amount of the Financing (including any flex provisions) other than the conditions precedent set forth in the Financing Commitment Letters and, and as of the date hereof hereof, Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments it will not be able to satisfy any term or condition of closing of the Financing that is required to be satisfied as a condition of the Financing, or that the full amount of the Financing will not be made available to Parent on the Closing Date. Subject Other than the Financing Commitment Letters, there are no side letters or other Contracts, arrangements or understandings (written or oral) directly or indirectly related to the Financing (except for customary fee letters, engagement letters relating to the Debt Financing and non-disclosure agreements, none of which impact the conditionality, timing or amount of the Financing) which could adversely impact the timing or availability of the Financing, including without limitation, by providing for additional or different conditions to the timing or availability of the Financing not otherwise contained in the Financing Commitment Letters. There is no condition to the Financing the satisfaction of which would prevent the satisfaction of the conditions set forth in Sections 6.1, 6.2, and 6.3 hereof, and there is no condition set forth in Sections 6.1, 6.2, or 6.3 hereof the satisfaction of which would prevent the satisfaction of a condition to the Financing. Upon the funding of the Financing in accordance with and subject to its terms and conditions contained (including after giving effect to any pricing flex that results in this Agreement and OID, if exercised), the Financing Commitments, Parent and Merger Sub will have at aggregate proceeds of the ClosingFinancing, together with the available other unrestricted cash and cash equivalents on hand of the Company and its Subsidiaries Parent on the Closing Date, funds are, and will be, in an amount sufficient to pay (i) consummate the cash portion of Closing upon the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt terms contemplated by this Agreement or the Financing CommitmentsAgreement, (ii) and any pay all other amounts required payable by Parent or its Affiliates pursuant to be paid in connection with the consummation of the transactions contemplated herebyother Ancillary Agreements to which any such Person is a party, and to (iii) pay all related fees and expenses of Parent and its Affiliates and Representatives, and (iv) to the extent any other amounts are required to be paid by the Parent on the Closing Date to consummate the Transactions, pay all such other amounts (including refinancing or repayment of any debt contemplated by this Agreement). As of the date hereof, Parent or its Affiliates have fully paid, or caused to be paid, any and all commitment fees and any and all other fees and expenses, in each case as are required to be paid on or before the date hereof pursuant to the terms of the Financing Commitment Letters.
Appears in 2 contracts
Sources: Merger Agreement (Icahn Enterprises Holdings L.P.), Merger Agreement (American Railcar Industries, Inc.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of a debt two executed commitment letterletters, other than the fee letter relating thereto each dated as of November 21, 2011, among Parent and Bank of America, N.A., ▇▇▇▇▇▇▇ Lynch, Pierce, ▇▇▇▇▇▇ & ▇▇▇▇▇ Incorporated and Barclays Bank PLC (collectivelytogether, the “Debt Lead Commitment Parties” and, together with any person who executes a joinder to such commitment letters or who otherwise commits to provide any portion of the Financing Commitment(as defined below), “Commitment Parties” and, together with their respective shareholders, partners, members, affiliates, directors, officers, employees and agents, the “Financing Sources”), which are attached hereto as Annex D (the “Financing Commitments”), pursuant to which the lenders party thereto severally have agreedcommitted, on the terms and subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement Transactions (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the The Financing Commitments has have not been amended or modified prior to the date hereof, and, as of this Agreementthe date hereof, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Except for a fee letter and an agency fee letter relating to fees and related arrangements with respect to the Financing (true, complete and correct copies of which has been provided to the Company, with only fee amounts and certain economic terms of the market flex redacted), as of the date hereof there are no side letters or other Contracts or arrangements altering the terms or conditions of the funding of the Financing other than as expressly set forth in the Financing Commitments delivered to the Company prior to the date hereof. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are due and payable on or prior to the date hereof, and and, as of the date hereof, the Financing Commitments are in full force and effect and are the legal, valid, binding and enforceable obligations of ParentParent and Merger Sub, Merger Sub as the case may be, in each case subject to the Bankruptcy and Equity Exception and any legal limitations on the enforceability of provisions requiring indemnification against liabilities under securities laws in connection with any offering, sale or issuance of securities, and, to the knowledge of the executive officers of Parent, each of the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in or contemplated by the Financing Commitments. No Assuming the accuracy of the representations and warranties set forth in Section 4.1 in all material respects (except to the extent already qualified as to Company Material Adverse Effect), as of the date hereof, no event has occurred whichthat, with or without notice, lapse of time or both, has constituted or would reasonably be expected to constitute a default on the part of Parent or Merger Sub breach under any of the Financing CommitmentsCommitments by Parent or Merger Sub or, and as to the knowledge of the date hereof Parent has no reason to believe that executive officers of Parent, any other party thereto. Assuming the accuracy of the conditions representations and warranties set forth in Section 4.1 in all material respects (except to the Financing contemplated extent already qualified as to Company Material Adverse Effect) and assuming compliance by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained Company with its obligations herein in this Agreement and the Financing Commitmentsall material respects, Parent and Merger Sub will have available to them at and immediately prior to the ClosingAcceptance Time cash in an aggregate amount sufficient to pay the aggregate Offer Price, together with assuming all issued and outstanding Shares are tendered in the Offer and not withdrawn. Parent and Merger Sub will have available at and immediately prior to the Effective Time cash of in an aggregate amount sufficient to pay the Company Per Share Merger Consideration. Parent and its Subsidiaries on Merger Sub will have at and after the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (any and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) all fees and any other amounts expenses required to be paid by Parent, Merger Sub and the Surviving Corporation in connection with the consummation of Transactions and the transactions contemplated hereby, and to pay all related fees and expensesFinancing.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Gilead Sciences Inc), Merger Agreement (Pharmasset Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy (including all exhibits, schedules, annexes and amendments thereto and the related fee letters (redacted for provisions related to fees, pricing, “flex” terms (other than any “flex” term expressly permitted thereby to be disclosed to the Company), any other economic terms and other confidential terms but not, for the avoidance of a doubt, as to any matters related to conditionality) of the executed debt commitment letterletters, dated as of the date of this Agreement, by and among certain of the Financing Sources and Parent providing for debt financing as described by such commitment letters (such commitment letters, including all such exhibits, schedules, annexes and amendments thereto and each related fee letter (redacted for provisions related to fees, pricing, “flex” terms (other than any “flex” term expressly permitted thereby to be disclosed to the fee letter relating thereto (Company), any other economic term and other confidential items but not, for the avoidance of doubt, as to any matters related to conditionality), collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant to which which, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth or referred to therein, certain Financing Sources have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”), for the purpose of, inter alia, funding the Merger Consideration and the fees and expenses related thereto and pay for any refinancing of any outstanding indebtedness of the Company contemplated by this Agreement or the Commitment Letters. Assuming satisfaction of the conditions set forth in Section 6.1 and Section 6.3 and performance by the Company of its obligations under this Agreement, the proceeds to be disbursed pursuant to the agreements contemplated by the Commitment Letters and other cash available to Parent and its affiliates in the aggregate will be sufficient for Parent to pay the Merger Consideration and all related fees and expenses at the Closing.
(b) As of the date of this Agreement, each Commitment Letter is in full force and effect and is a valid and binding obligations of Parent and, to the knowledge of Parent, the other parties thereto, enforceable in accordance with its terms (subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting creditors’ rights generally and to general principles of equity, including that equitable remedies are discretionary and may not be ordered), and is not subject to any conditions precedent related to the funding of the net proceeds of the Financing that are not set forth or otherwise contemplated in the copies of the Commitment Letters provided to the Company (it being understood that the related fee letters may be redacted by Parent by removing fees, pricing, “flex” terms (other than any “flex” term expressly permitted thereby to be disclosed to the Company), any other economic terms and other confidential terms, but not, for the avoidance of doubt, as to any matters related to conditionality).
(c) None of the Financing Commitments Commitment Letters has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, Agreement and the respective commitments contained in the Financing Commitments therein have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereofbeen, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent terminated, reduced, withdrawn or other contingencies related rescinded prior to the funding date of this Agreement.
(d) As of the full amount date of this Agreement, none of the Financing Sources has notified Parent of its intention to terminate any Commitment Letter or not to provide the Financing.
(e) As of the date of this Agreement, other than as set forth Parent is not in default or contemplated by breach under the Financing Commitments. No terms and conditions of any Commitment Letter and no event has occurred which, with or without notice, lapse of time or both, would constitute a default on or breach by Parent under the part terms and conditions of Parent or Merger Sub under any of the Financing Commitments, and as Commitment Letter. As of the date hereof of this Agreement, Parent has no reason to believe that it or any other party thereto will be unable to satisfy any of the conditions to the Financing contemplated by the Financing Commitments will not to be satisfied or that the Financing will not be made available pursuant to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries each Commitment Letter on the Closing Date, funds sufficient to pay provided that Parent is not making any representation or warranty regarding the cash portion effect of the aggregate Per Share Merger Consideration inaccuracy of the representations or warranties set forth in ARTICLE III or non-compliance by the Company and its Affiliates with their respective obligations hereunder on any such condition to the Financing.
(and any repayment f) As of the date of this Agreement, there are no side letters, understandings or refinancing of debt contemplated by this Agreement or other agreements relating to the Financing Commitmentsto which Parent or any of its Affiliates is a party that imposes conditions to the funding of the Financing, other than those set forth in the Commitment Letters.
(g) Parent or an Affiliate thereof on its behalf has fully paid any and any all commitment or other amounts fees required by the Commitment Letters to be paid in connection with prior to the consummation date of the transactions contemplated hereby, and to pay all related fees and expensesthis Agreement.
Appears in 2 contracts
Sources: Merger Agreement (McMoran Exploration Co /De/), Merger Agreement (Freeport McMoran Copper & Gold Inc)
Financing. Attached as Annex 5.2(e)(i(a) to Section 6.26 of the Parent Moon Disclosure Letter is a true sets forth true, correct and complete copy copies of a an executed debt commitment letter, other than letter (including the fee letter relating thereto (collectivelyexhibits thereto, the “Debt Financing CommitmentCommitment Letter”) and related (redacted to remove solely provisions related to fees and other economic terms, none of which could adversely affect the conditionality, enforceability, availability, termination or aggregate principal amount of the Financings) fee letter (the “Financing Fee Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, in each case dated as of the date hereofhereof and including all exhibits, from GS Capital Partners V Fundschedules, L.P. annexes and amendments to such letters in effect as of the date hereof (the “Equity Financing Commitment” and together with the Debt Financing Commitmentcollectively, the “Financing Commitments”), ) pursuant to which the parties thereto have committedwhich, and subject only to the terms and conditions set forth thereinof which, each of the lenders identified therein (as such parties may be supplemented or amended, the “Lenders”) have severally committed to invest provide Moon with loans in the amount respective amounts described therein for the purposes set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “FinancingFinancings”). None .
(b) As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are constitute the validlegal, valid and binding and enforceable obligations obligation of Parenteach of Moon and, Merger Sub and to the knowledge of ParentMoon, the other parties theretoLenders, subject in each case to the effect of any applicable Laws relating to bankruptcy, reorganization, insolvency, moratorium, fraudulent conveyance or preferential transfers, or similar Laws relating to or affecting creditors’ rights generally and subject, as to enforceability, to the effect of general principles of equity (regardless of whether such enforceability is considered in a proceeding at equity or at law). As of the date hereof, the Financing Commitments have not been amended, restated or otherwise modified or waived, and the respective obligations and commitments contained in the Financing Commitments have not been withdrawn, rescinded, repudiated, amended, restated, terminated or otherwise modified in any respect prior to the execution and delivery of this Agreement. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingFinancings pursuant to the Financing Commitments, other than as set forth in the Financing Commitment Letter and there are no side letters or contemplated by other agreements, Contracts or arrangements relating to the funding of the full amount of the Financings other than the Financing Commitments. No As of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would could reasonably be expected to constitute a breach or default on the part of Parent or Merger Sub Moon under the Financing Commitments or, to the knowledge of Moon, on the party of any of other party to the Financing Commitments, and as . As of the date hereof Parent hereof, Moon has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Financings will not be satisfied on a timely basis, or that the Financing Financings will not be made available to Parent Moon on the Closing Date. Subject to Date in accordance with the terms and conditions contained of the Financing Commitments. As of the date hereof, no Lender has notified Moon of its intention to terminate its obligations under the Financing Commitments or to not provide the Financings.
(c) Assuming that the Financings are funded in this Agreement and accordance with the terms of the Financing Commitments, Parent and Merger Sub the net proceeds from the Financings, taken together with cash on hand, will have provide Moon with funds at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds Date sufficient to refinance the Existing Debt and to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt all amounts contemplated by this Agreement or the Financing Commitments) to be paid by it, including to pay all fees and any other amounts expenses required to be paid in connection with the consummation of the transactions contemplated hereby, hereby and under the Financing Commitments and to pay satisfy all related of the other payment obligations of Moon contemplated hereunder and thereunder. Moon has paid in full all commitment and other fees and expensesexpenses required by the Financing Commitments to be paid on or prior to the date hereof.
Appears in 2 contracts
Sources: Business Combination Agreement (Chicago Bridge & Iron Co N V), Business Combination Agreement (McDermott International Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent will have available to it upon the consummation of the Offer and the Effective Time sufficient funds to make the payments required pursuant to this Agreement with respect to, the Offer and the Merger, respectively.
(b) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a the fully executed debt commitment letterletters from the Financing Sources identified therein, other than dated as of the date hereof (including all exhibits, schedules, annexes and amendments thereto (and together with any fee letter relating thereto (each, a “Fee Letter”) associated therewith which Fee Letter has been redacted in a customary manner solely with respect to terms that are confidential and do not adversely affect the enforceability, availability or conditionality of or the aggregate amount of net proceeds available under the Financing) as of the date of this Agreement, collectively, the “Debt Financing CommitmentCommitment Letters”), pursuant to which the lenders party thereto have agreedwhich, and subject to the terms and conditions set forth thereinthereof, such Financing Sources have committed to lend the amounts set forth therein to Parent for the purposes purpose of financing funding the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy All of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments Commitment Letters are in full force and effect and are the validlegal, valid and binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties thereto, enforceable in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization and similar laws affecting the rights of creditors generally and the availability of equitable remedies (regardless of whether such enforceability is considered in a proceeding in equity or at law). There are As of the date of this Agreement, (i) no conditions precedent Debt Commitment Letter has been withdrawn, terminated, repudiated, rescinded, amended, supplemented or other contingencies related modified, in any respect, and (ii) to the funding knowledge of Parent, no such withdrawal, termination, repudiation, rescission, amendment, supplement or modification is contemplated (other than any such amendment, modification or supplement to add Financing Sources, lead arrangers, bookrunners, syndication agents or similar entities who have not executed the Debt Commitment Letters as of the full amount date hereof). As of the Financingdate of this Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred whichor circumstance exists that, with or without notice, lapse of time or both, would constitute or result in a breach or default on the part of Parent or Merger Sub or, to the knowledge of Parent, any other Person under any of the Financing Commitments, and as Debt Commitment Letters. As of the date hereof of this Agreement, Parent has no reason to believe (both before and after giving effect to any “flex” provisions contained in the Fee Letters) that it will be unable to satisfy, on a timely basis, any term or condition to be satisfied by it contained in the Debt Commitment Letters or that the full amounts committed pursuant to the Debt Commitment Letters will not be available as of the Closing if the terms or conditions to be satisfied by it contained in the Debt Commitment Letters are satisfied (taking into account the expected timing of the Marketing Period). As of the date hereof, there are no side letters or other agreements, contracts, arrangements or understandings to which Parent is a party related to the funding of the Financing other than as expressly set forth in the Debt Commitment Letter. The Financing is subject to no conditions to the Financing contemplated by obligations of the parties under the Debt Commitment Letters to make the full amount of the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on or Merger Sub at the Closing Dateother than those set forth in the Debt Commitment Letter. Subject to As of the terms and conditions contained in date of this Agreement and the Financing CommitmentsAgreement, Parent has fully paid any and Merger Sub will have at all commitment fees or other fees or deposits required by the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required Debt Commitment Letters to be paid in connection with on or before the date of this Agreement. The aggregate proceeds from the Financing constitute all of the financing required for the consummation of the transactions contemplated hereby, by this Agreement and are sufficient in amount to provide Parent with the funds necessary for it to consummate the transactions contemplated hereby and to satisfy its obligations under this Agreement, including for Parent to pay the aggregate amounts payable pursuant to Article II and the payment of all fees, costs and expenses to be paid by Parent related fees to the transactions contemplated by this Agreement, including such fees, costs and expensesexpenses relating to the Financing.
Appears in 2 contracts
Sources: Merger Agreement (IntraLinks Holdings, Inc.), Merger Agreement (Synchronoss Technologies Inc)
Financing. Attached as Annex 5.2(e)(i(a) Amneal has delivered to the Parent Disclosure Letter is Impax a true true, correct and complete copy of a debt (i) an executed commitment letter, other than the fee letter relating thereto (collectivelyincluding all exhibits and schedules thereto, the “Debt Financing CommitmentCommitment Letter”), ) pursuant to which the lenders Debt Financing Sources party thereto have agreed, agreed (on the terms and subject to the terms and conditions set forth thereinthereof), to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt FinancingFinancing Commitments”) and (ii) the fee letter(s) referenced in the Debt Commitment Letter (the “Fee Letter”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy As of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, there are no such amendment agreements, side letters or modification is contemplated, arrangements (other than the Debt Commitment Letter and the respective commitments contained Fee Letter) to which Amneal is a party relating to any of the Debt Financing Commitments.
(b) Except as expressly set forth in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any Debt Commitment Letter and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to Fee Letter, as of the date hereofof this Agreement, assuming the satisfaction of the conditions set forth in Section 7.01 and the Financing Commitments are in full force and effect and are the validSection 7.02, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There there are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing, other than as . Assuming the satisfaction of the conditions set forth in or Section 7.01 and Section 7.02 and the funding of the Debt Financing in accordance with the terms and conditions of the Debt Commitment Letter, the aggregate proceeds contemplated by the Financing CommitmentsDebt Commitment Letter, together with other financial resources of Amneal will be sufficient for (i) the repayment in full of all amounts outstanding under the Existing Credit Facilities of Impax and its Subsidiaries pursuant to their terms, (ii) to the extent necessary, for the repurchase of the Impax Convertible Notes at par plus accrued but unpaid interest thereon and (iii) the satisfaction of Amneal’s obligations to pay any fees and expenses of or payable by Amneal in connection with this Agreement, the Transactions and the Ancillary Transactions (the “Required Amount”). No As of the date of this Agreement, the Debt Commitment Letter and the Fee Letter are in full force and effect, and constitute the valid and binding obligation of Amneal and, to the Knowledge of Amneal, each of the other parties thereto (subject in each case to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity whether considered in a proceeding in equity or at law). As of the date of this Agreement, Amneal is not in breach of any of the terms or conditions set forth in the Debt Commitment Letter or the Fee Letter. As of the date of this Agreement, assuming the satisfaction or waiver of the conditions set forth in Section 7.01 and Section 7.02 and the accuracy of the representations and warranties of Impax set forth in this Agreement in all material respects, (i) no event has occurred whichthat, with or without notice, lapse of time or both, would reasonably be expected to constitute a default or breach on the part of Parent Amneal under the terms of the Debt Commitment Letter or Merger Sub under (ii) would reasonably be expected to result in any of the Financing Commitmentsconditions within its control in the Debt Commitment Letter not being satisfied in a timely manner. Amneal has paid in full any and all commitment fees or other fees required to be paid pursuant to the terms of the Debt Commitment Letter or Fee Letter on or before the date of this Agreement. The Debt Commitment Letter has not been modified or amended as of the date of this Agreement, and as of the date hereof Parent has no reason to believe that any of this Agreement none of the conditions respective commitments under the Debt Commitment Letter have been reduced, withdrawn or rescinded by Amneal or, to Amneal’s Knowledge, the Debt Financing Sources party thereto. Notwithstanding anything to the Financing contemplated by contrary set forth in this Section 4.25(b), to the Financing Commitments will not be satisfied or extent that the Financing will not be made available to Parent on the Closing Date. Subject to the terms representations and conditions warranties contained in this Agreement Section 4.25(b), are not true or correct in any respect, but all other conditions set forth in Section 7.01 and Section 7.02(a) are then satisfied and Amneal is otherwise is ready, willing and able to consummate the Financing CommitmentsTransactions, Parent then the representations and Merger Sub will have at warranties set forth in this Section 4.25(b) shall be deemed to be true and correct in all respects in order to deem the Closingcondition set forth in Section 7.02(a) satisfied, together with the available cash of the Company and its Subsidiaries on so long as the Closing Date, funds sufficient to pay the cash portion occurs.
(c) The obligations of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by Amneal under this Agreement are not subject to any conditions regarding Amneal’s, its Affiliates’ or the Financing Commitments) and any other amounts required person’s ability to be paid in connection with obtain financing for the consummation of the transactions Transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Business Combination Agreement (Atlas Holdings, Inc.), Business Combination Agreement (Impax Laboratories Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company (i) a true correct and complete fully executed copy of a debt the commitment letter, other than dated as of August 5, 2019, among Parent, Intermediate Holdco and Apollo Capital Management, L.P., including all exhibits, schedules and annexes to such letter in effect as of the date of this Agreement and (ii) a correct and complete fully executed copy of the fee letter relating thereto referenced therein (collectivelytogether, the “Debt Financing CommitmentCommitment Letter”) (it being understood that such fee letter has been redacted to remove the fee amounts, the rates and amounts included in the “market flex” and other economic terms that could not reasonably be expected to adversely affect the conditionality, enforceability, termination or aggregate principal amount of the Financing). Pursuant to, pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth thereinof, the Commitment Letter, the commitment parties thereunder have committed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached provision of such funds as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)) for the purposes set forth in such Commitment Letter. None of the Financing Commitments The Commitment Letter has not been amended amended, restated or otherwise modified or waived prior to the date execution and delivery of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn withdrawn, rescinded, amended, restated or rescinded otherwise modified in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date hereofexecution and delivery of this Agreement.
(b) As of the execution and delivery of this Agreement, and the Financing Commitments are Commitment Letter is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations of Parenteach of Parent and Intermediate Holdco, Merger Sub and as applicable, and, to the knowledge Knowledge of Parent, the other parties thereto. , enforceable in accordance with their terms against Parent and Intermediate Holdco, as applicable, and, to the Knowledge of Parent, each of the other parties thereto, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and similar Laws of general applicability relating to or affecting creditors’ rights or by general equity principles.
(c) There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in or contemplated the Commitment Letter. Subject to the terms and conditions of the Commitment Letter, and assuming the accuracy of the Company’s representations and warranties contained in Article III and compliance by the Financing Commitments. No Company with its covenants contained in Article V and Section 7.11(c), in each case, in all material respects, the net proceeds of the Financing, together with cash on hand of Parent, will, in the aggregate, be sufficient for the payment of the Cash Consideration, any other amounts required to be paid pursuant to Article I, any Indebtedness of the Company (including the Company Credit Agreement) required to be repaid, redeemed, retired, cancelled, terminated or otherwise satisfied or discharged in connection with the Merger and any premiums and fees incurred in connection therewith, and any other fees and expenses reasonably expected to be incurred in connection with this Agreement, the Merger and the other transactions contemplated hereby.
(d) As of the execution and delivery of this Agreement, (i) no event has occurred which, which would or would reasonably be expected to (A) constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default breach or default) on the part of Parent, Intermediate Holdco or, to the Knowledge of Parent, any other applicable party to the Commitment Letter or (B) result in a failure to satisfy any condition precedent under the Commitment Letter and (ii) Parent or Merger Sub under does not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by funding of the Financing Commitments will not be satisfied or that full amount of the Financing will not be made satisfied at or prior to the Closing Date or that the Financing or any other funds necessary for the satisfaction of all of Parent’s and the Parent Subsidiaries’ obligations under this Agreement will not be available to Parent on the Closing Date. Subject at or prior to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay in each of clauses (i) and (ii), assuming the cash portion accuracy of the aggregate Per Share Merger Consideration (Company’s representations and any repayment warranties contained in Article III and compliance by the Company with its covenants contained in Article V and Section 7.11(c), in each case, in all material respects. Parent has fully paid or refinancing of debt contemplated by this Agreement caused to be fully paid all commitment fees or other fees to the Financing Commitments) and any other amounts extent required to be paid on or prior to the date of this Agreement in connection with the consummation Financing. As of the transactions contemplated herebydate of this Agreement, and there are no side letters, arrangements or other Contracts (in each case, other than the Commitment Letter) related to pay all related fees and expensesthe funding of the Financing (other than those that have been disclosed to the Company prior to the date hereof).
(e) In no event shall the receipt or availability of any funds or financing (including, without limitation, the Financing) be a condition to any of Parent’s, Intermediate Holdco’s or Merger Sub’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (Gannett Co., Inc.), Merger Agreement (New Media Investment Group Inc.)
Financing. Attached as Annex 5.2(e)(i) As of the Amendment Date, Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a debt the fully executed commitment letter (such letter, other than as amended, modified or waived from time to time to the fee letter relating thereto (collectivelyextent permitted herein, or any financing commitment in respect of an Alternative Financing as contemplated by the last sentence of Section 5.18(b), the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms ) and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement fee letter (the “Debt FinancingFee Letter”). Attached as Annex 5.2(e)(ii) to executed in connection with the Parent Disclosure Letter is debt financing of a true and complete copy portion of the equity commitment letter, dated as cash component of the date hereof, from GS Capital Partners V Fund, L.P. Merger Consideration (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”) (with certain fee amounts and certain economic terms of the “market flex” provisions redacted). None As of the Financing Commitments has been amended or modified prior to Amendment Date, the date of this Agreement, no such amendment or modification Commitment Letter is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are constitutes the legal, valid, binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties theretothereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity). As of the Amendment Date, the Commitment Letter has not been amended or modified in any respect and the respective commitments therein have not been withdrawn or terminated. There are no conditions precedent or or, to the knowledge of Parent, other contingencies related to the funding of the full amount of the Financing, Financing on the terms set forth in the Commitment Letter (as such terms may be altered in accordance with the “market flex” provisions set forth in the Fee Letter) other than as expressly set forth as of the Amendment Date in or contemplated by the Financing CommitmentsCommitment Letter. No As of the Amendment Date, no event has occurred whichthat, with or without notice, lapse of time or both, would constitute a default on the part of breach by Parent or Merger Sub any other party thereto under any the Commitment Letter. Subject to the terms and conditions of the Financing CommitmentsCommitment Letter, and as of the date hereof Amendment Date, assuming compliance by the Company in all material respects with its covenants contained in Section 5.1 and Section 5.18(d) and assuming satisfaction of the conditions set forth in Section 6.1 and Section 6.3, the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Commitment Letter, together with other financial resources of Parent, including cash on hand and marketable securities, will, in the aggregate, be sufficient to fund the payment of the cash component of the Merger Consideration. As of the Amendment Date, assuming satisfaction of the conditions set forth in Section 6.3, Parent has no reason to believe that either it or any other party will be unable to satisfy on a timely basis any condition of the conditions to Financing under the Commitment Letter or the Fee Letter or that the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing Commitment Letter will not be made available to Parent on the Closing Date. Subject to ; provided that Parent is not making any representation or warranty regarding the terms Company’s future performance, the effect of any inaccuracy of the representations and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash warranties of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by in this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation failure of the transactions contemplated hereby, and Company to pay comply with any of its covenants in all related fees and expensesmaterial respects under this Agreement.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Southern Union Co), Agreement and Plan of Merger (Energy Transfer Equity, L.P.)
Financing. Attached as Annex 5.2(e)(i(a) Assuming the truth and accuracy of the Company’s representations and warranties and compliance by the Company with its covenants and agreements (in each case solely to the extent that a breach of such representation or warranty or noncompliance with such covenant or agreement would adversely affect the satisfaction by Parent Disclosure Letter is a true of the conditions set forth in the Commitment Letter) herein and assuming the Debt Financing has been received, at the Effective Time, Parent and Merger Sub shall have available cash resources and financing in an aggregate amount which, together with the available cash resources of the Company, are sufficient to enable Parent and Merger Sub to consummate the Transactions, to refinance any indebtedness required to be refinanced in connection with the consummation of the Transactions, and to pay related fees and expenses. Parent has delivered to the Company an accurate and complete copy of a fully executed debt commitment letterletter (together with all annexes, other than schedules and exhibits thereto) from the fee letter relating financial institutions party thereto (collectively, the “Debt Financing CommitmentLenders”) together with the executed fee letter(s) related thereto of even date therewith (which fee letter(s) may be redacted so long as no such redaction covers terms that would adversely affect the aggregate amount, conditionality, availability, or termination of the debt financing contemplated therein) and any related exhibits, schedules, annexes, supplements, term sheets or other agreements (other than fee letters) (collectively, the “Commitment Letter”), pursuant to which the lenders party thereto have agreedterms, but subject to the terms and conditions expressly set forth therein, of which certain of the Lenders have committed to lend provide Parent and Merger Sub with debt financing in the amounts set forth therein for the purposes of partially financing the transactions contemplated by this Agreement Transactions (such debt financing or any debt securities issued in lieu thereof, the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(b) The Commitment Letter is, and each definitive agreement with respect to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment(which definitive agreements are referred to collectively in this Agreement as the “Definitive Financing Agreements”) entered into after the date of this Agreement but prior to the Effective Time (if any), will be, in each case, a legal, valid, binding and enforceable obligation of Parent (to the extent party thereto) and Merger Sub (to the extent party thereto) and, to the Knowledge of Parent, the “Financing Commitments”), pursuant to which the other parties thereto have committed, subject to the in accordance with their respective terms and subject to: (i) the respective conditions expressly set forth therein, to invest ; and (ii) the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)Enforceability Limitations. None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, the Commitment Letter and the respective commitments contained in the Financing Commitments therein have not been withdrawn withdrawn, modified, terminated or rescinded in any respect, amended, restated or otherwise modified or waived (and, to the Knowledge of Parent, no such withdrawal, modification, termination, amendment, restatement or waiver is contemplated). Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There there are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing, other than as expressly set forth in or contemplated the Commitment Letter in the form delivered to the Company and assuming the truth and accuracy of the Company’s representations and warranties and compliance by the Company with its covenants and agreements herein (in each case solely to the extent that a breach of such representation or warranty or noncompliance with such covenant or agreement would adversely affect the satisfaction by Parent of the conditions set forth in the Commitment Letter), Parent does not have any reason to believe that the conditions to the Debt Financing Commitmentswill not be satisfied or that the Debt Financing will not be available to Parent at the Effective Time. No As of the date hereof, there are no, and there are not contemplated to be any, side letters or other agreements, contracts or arrangements related to the funding or investing, as applicable, of the full amount of the Debt Financing, other than any customary engagement letters, fee letters and non-disclosure agreements that do not impact the conditionality for the Debt Financing to occur or amount of the Debt Financing.
(c) As of the date of this Agreement, no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default), in each case, on the part of Parent or Merger Sub under the Commitment Letter or which would otherwise result in any portion of the Debt Financing contemplated thereby to be unavailable. As of the date of this Agreement, neither Parent nor Merger Sub is aware of any material inaccuracies in any of the Financing Commitmentsrepresentations or warranties of Parent or Merger Sub in the Commitment Letter. To the extent required, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied fully paid all commitment fees or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with prior to the consummation date of this Agreement pursuant to the transactions contemplated hereby, and to pay all related fees and expensesCommitment Letter.
Appears in 2 contracts
Sources: Merger Agreement (Polycom Inc), Merger Agreement (Mitel Networks Corp)
Financing. Attached (a) Purchaser will have, as Annex 5.2(e)(i) to of the Parent Disclosure Letter is a true and complete copy respective dates of a debt commitment letter, other than consummation of the fee letter relating thereto Offer (collectively, the “Debt Financing Commitment”including any subsequent offering period), pursuant access to which sufficient funds to consummate the lenders party thereto have agreed, Offer (including any subsequent offering period) on the terms and subject to the terms conditions contemplated hereby, and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) payment to the Company of funds sufficient to pay holders of Company Options in accordance with the provisions of Section 6.7.
(b) Parent Disclosure Letter is has delivered to the Company a true complete and complete correct copy of the equity executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. Barclays Bank PLC (the “Equity Financing Commitment” and together with the Debt Financing Commitmentcollectively, the “Financing CommitmentsCommitment”), ) pursuant to which the parties lender party thereto have committedhas committed to provide, subject to the terms and conditions set forth thereintherein and the conditions set forth in the Purchaser Credit Facility, to invest the debt financing in an aggregate amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None Parent has also delivered to the Company complete and correct copies of any fee letters (redacted to exclude fees and certain other information at the request of the Financing Commitments Sources party thereto) (the “Fee Letters”) in connection with the Financing Commitment and the Purchaser Credit Facility and, as of the Agreement Date, except as would not reasonably be expected to materially impair the validity of the Financing Commitment, materially impact the availability of the Financing or materially decrease the amount of financing that could be expected to be provided under the Financing Commitment, there are no Contracts, agreements, side letters or arrangements to which Parent or Purchaser is a party relating to the funding or investing, as applicable, of the amount of the Financing other than as expressly set forth in the Financing Commitment, Fee Letters and Purchaser Credit Facility.
(c) As of the date hereof, the Financing Commitment has not been amended or modified prior to the date of this Agreementmodified, no such amendment or modification is presently contemplated, and the respective obligations and commitments contained in the Financing Commitments Commitment have not been withdrawn or rescinded in any respect. Parent or Purchaser has fully paid any and all commitment fees or other fees in connection with the Financing Commitments Commitment that are payable on or prior to the date hereof, and and, as of the date hereof, the Financing Commitments are Commitment is in full force and effect and are the valid, binding and enforceable obligations of ParentParent and Purchaser (except as such enforceability may be (i) limited by bankruptcy, Merger Sub insolvency, reorganization, moratorium or similar Laws affecting the enforcement of creditors’ rights generally and (ii) the exercise by courts of equity powers) and, to the knowledge of ParentParent and Purchaser, the other parties thereto. There are no conditions precedent .
(d) Assuming the satisfaction or other contingencies related to the funding waiver of the full amount conditions to Parent’s and Purchaser’s obligation to consummate the Offer (including any subsequent offering period), the net proceeds of the Financing, other than as set forth Financing if funded in or contemplated by accordance with the Financing Commitments. No , together with Parent’s consolidated cash and cash equivalents and borrowings under Purchaser Credit Facility are, in the aggregate, sufficient for Purchaser to pay the aggregate Offer Price, consummate the transactions contemplated by this Agreement and pay all fees and expenses required to be paid by Parent or Purchaser in connection with the Offer and the Financing.
(e) As of the date of this Agreement, no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub Purchaser under any of the Financing CommitmentsCommitments or, to the knowledge of Parent and as Purchaser, any other party thereto. As of the date hereof of this Agreement, neither Parent nor Purchaser has no any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the full amount of the Financing will not be made available to Parent or Purchaser on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash date of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesOffer.
Appears in 2 contracts
Sources: Tender Offer Agreement, Tender Offer Agreement (Jazz Pharmaceuticals PLC)
Financing. Attached as Annex 5.2(e)(i(a) Parent and Merger Sub have delivered to the Parent Disclosure Letter is a true Company true, correct, and complete copy copies of a debt commitment letter, other than (i) the fee letter relating thereto (collectively, executed Debt Commitment Letter from the “Debt Financing Commitment”)Sources, pursuant to which the lenders party thereto such Debt Financing Sources have agreed, subject to the terms and conditions set forth thereinthereof, to lend to Parent (which Parent may contribute to Merger Sub) the amounts amount set forth therein for the purposes of financing the transactions contemplated by this Agreement herein and (ii) an executed fee letter (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing CommitmentsFee Letter”), pursuant to which is the parties thereto have committedDebt Fee Letter referenced in the Debt Commitment Letter (except that the fee amounts, subject to the pricing caps and other economic terms and conditions set forth therein, to invest the amount set forth therein may be redacted; provided, however, that such redactions do not permit the imposition of any new conditions (or the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”expansion of any existing conditions)). None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, the obligations of the Debt Financing Sources to fund their commitments under the Debt Commitment Letter are not subject to any condition precedent other than the conditions expressly set forth in the Debt Commitment Letter and the Debt Fee Letter and there are no such amendment other agreements, side letters or modification arrangements relating to the Debt Financing that would adversely affect the availability of, or the conditions to, funding the full amount of the Debt Financing contemplated to be funded on the Closing Date.
(b) As of the date hereof, the Debt Commitment Letter is contemplatedin full force and effect and is a legal, valid, binding and enforceable obligation of Parent and Merger Sub and, to the knowledge of Parent and Merger Sub, each other person party thereto, and no event has occurred that, with or without notice, lapse of time, or both, would reasonably be expected to constitute a default or breach or a failure to satisfy a material condition precedent on the respective commitments contained in part of Parent or Merger Sub under the Financing Commitments have not been withdrawn or rescinded in any respectterms and conditions of the Debt Commitment Letter. Parent has and Merger Sub have fully paid (or caused to be paid) any 38031572.13 and all commitment fees or other fees in connection with the Financing Commitments Debt Commitment Letter and the related fee letter that are payable required to be paid on or prior to the date hereof and have otherwise satisfied all other terms and conditions required by the Debt Commitment Letter to be satisfied prior to the date hereof. As of the date hereof, the Debt Commitment Letter has not been modified, amended or altered and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding none of the full amount commitments under the Debt Commitment Letter has been withdrawn or rescinded in any respect.
(c) As of the Financingdate hereof, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, which constitutes a breach or default (with due notice or without notice, lapse of time or both, would constitute a default ) on the part of Parent or Merger Sub under any of the Financing Commitmentsor, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing CommitmentsParent’s knowledge, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid party thereto, under the Debt Commitment Letter that would result in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesDebt Financing being materially delayed or unavailable at Closing.
Appears in 2 contracts
Sources: Merger Agreement (Apex Global Brands Inc.), Merger Agreement (Apex Global Brands Inc.)
Financing. Attached as Annex 5.2(e)(i(i) Sun Treasury (or one of its Affiliates) and certain financing institutions have entered into a binding commitment letter (the “Debt Commitment Letter”) entitling Sun Treasury to borrow funds in an aggregate amount which, when combined with other funds available to ListCo, Sun or any of its applicable Affiliates to be used to part finance the Parent Disclosure Cash Consideration, will be sufficient to satisfy ListCo, Merger Sub and/or Sun’s obligations under this Agreement, including the payment of the Cash Consideration, and any fees and expenses of or payable by any of them hereunder, and for any repayment or refinancing of any existing indebtedness of Willow, Sun or any of their respective Subsidiaries contemplated by, or required in connection with the transactions described in, this Agreement or the Debt Commitment Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectivelysuch amounts, the “Debt Financing CommitmentAmounts”), . The debt financing committed pursuant to which the lenders party thereto have agreed, subject Debt Commitment Letter is collectively referred to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by in this Agreement (as the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(ii) Sun has delivered to the Parent Disclosure Letter is Willow a true true, complete and complete correct copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. Debt Commitment Letter and any fee letter related thereto (the “Equity Financing Commitment” and together with Fee Letter”, subject, in the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth thereincase of such fee letter, to invest the amount set forth therein (the “Equity Financing” and together redaction solely of provisions that are customarily redacted in connection with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date transactions of this Agreementtype and that would not reasonably be expected to affect the conditionality, no such amendment enforceability, availability or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or (other fees than in connection with the Financing Commitments fees and “flex” provisions) amount of the Debt Financing. ▇▇▇ expressly acknowledges and agrees that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of ParentSun under this Agreement are not conditioned in any manner upon Sun obtaining any financing (including term loans, Merger Sub bridge financing and to bonds).
(iii) Except as expressly set forth in the knowledge of ParentDebt Commitment Letter and Fee Letter, the other parties thereto. There there are no conditions precedent to the obligations of the Financing Sources to provide the Debt Financing or any contingencies that would permit the Financing Sources to reduce the total amount of the Debt Financing, impose any additional conditions precedent to the availability of the Debt Financing or that would reasonably be expected to affect the timing of the availability of or termination of the Debt Financing, including any condition or other contingencies related contingency relating to the amount or availability of the Financing pursuant to any “flex” provision. Other than the Debt Commitment Letter and the Fee Letter, there are no side letters, understandings or other agreements, contracts or arrangements of any kind (written or oral) to which Sun or any of its Affiliates is a party, or of which Sun has knowledge, relating to the funding of the full amount of the Financing, other than as set forth in Debt Financing or contemplated by that would reasonably be expected affect the Financing Commitments. No event has occurred which, with availability or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any conditionality of the Debt Financing Commitments, and as or the enforceability of the date hereof Parent Debt Commitment Letter. Sun has no reason to believe that paid in full any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied and all commitment fees or that the Financing will not be made available to Parent on the Closing Date. Subject other fees due and payable pursuant to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries Debt Commitment Letter on or before the Closing Date, funds sufficient to pay the cash portion date of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated herebyAgreement, and to will pay all related fees and expensesin full any such amounts due on or before the Merger Effective Date.
Appears in 2 contracts
Sources: Transaction Agreement, Transaction Agreement (WestRock Co)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company (i) true and complete copy copies of a debt the commitment letterletter (as the same may be amended in accordance with Section 6.13(a)), other than dated as of the fee letter relating thereto date hereof, between Parent and each of Bank of America, N.A., Banc of America Securities LLC, Banc of America Bridge LLC, Credit Suisse Securities (collectively, USA) LLC and Credit Suisse (the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend provide or cause to be provided the debt amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement and related fees and expenses (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a and (ii) true and complete copy copies of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fundbetween Parent and Blackstone, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have Blackstone has committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing CommitmentFinancing, the “Financing”). None As of the date of this Agreement, none of the Financing Commitments has been amended or modified prior to the date of this Agreementmodified, no such amendment or modification is contemplated, contemplated except as permitted by Section 6.13(a) and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any material respect. Parent has fully paid any and all commitment fees or other fees in connection with the Debt Financing Commitments Commitment that are payable on or prior to the date hereofhereof and, and as of the date of this Agreement, the Debt Financing Commitments are Commitment is in full force and effect and are is the valid, binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, the each other parties theretoparty thereto so long as it remains in effect. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No As of the date of this Agreement, no event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that it will be unable to satisfy any of the conditions to the Financing contemplated by the Financing Commitments (subject to the Company complying with its obligations hereunder and assuming that there will not be satisfied or that a Company Material Adverse Effect). After giving effect to the amounts expected to be funded under the Financing will not be made available to Parent on the Closing Date. Subject Commitments (subject to the terms thereof), and conditions contained in this Agreement and assuming compliance by the Financing CommitmentsCompany with its obligations hereunder, Parent and Merger Sub will would have at the ClosingClosing funds sufficient, together with the available cash of the Company and its Subsidiaries on the Closing DateCompany, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses. Notwithstanding the foregoing, in no event shall the receipt or availability of any funds or financing by Parent or any other financing or other transactions be a condition to any of Parent’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (ReAble Therapeutics Finance LLC), Merger Agreement (Djo Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy copies of a debt an executed commitment letter, other than letter and fee letters from the fee letter relating thereto financial institutions identified therein (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant ) to which the lenders party thereto have agreedprovide, subject to the terms and conditions set forth therein, to lend debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (being collectively referred to as the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment Letter has not been amended or modified prior to the date of this Agreementmodified, no such amendment or modification is contemplatedcontemplated (other than amendments or modifications that are permitted by Section 5.10), and and, as of the date hereof, the respective obligations and commitments contained in the Financing Commitments such letters have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments Debt Commitment Letter that are payable on or prior to the date hereof, and the Financing Commitments are . The Debt Commitment Letter is in full force and effect as of the date hereof. The Debt Commitment Letter constitutes the legal, valid and are the valid, binding and enforceable obligations of Parentthe parties thereto (other than the Financing Sources) and, Merger Sub and to the knowledge of Parent, the Financing Sources, in each case, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and other parties theretolaws of general applicability relating to or affecting creditors’ rights and to general principles of equity. There are no conditions precedent or other contingencies related to the funding As of the full amount date of the Financingthis Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a default or breach under the Debt Commitment Letter on the part of Parent or Merger Sub under its Subsidiaries or, to the knowledge of Parent, any of the Financing Commitments, and as other parties thereto. As of the date hereof of this Agreement and subject to the satisfaction of the conditions set forth in Article VI, Parent has no does not have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent on the Closing Date. Subject to payment of customary fees, the Debt Commitment Letter contains all of the conditions precedent to the obligations of the parties thereunder to make Debt Financing available to Parent on the terms and conditions contained in this Agreement and therein. There are no side letters or other agreements, contracts or arrangements to which Parent or any of its Affiliates is a party related to the Financing Commitmentsfunding or investing, Parent and Merger Sub will have at the Closingas applicable, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion full amount of the aggregate Per Share Merger Consideration (Debt Financing other than as expressly set forth in the Debt Commitment Letter and any repayment customary engagement letter and non-disclosure agreements that do not impact the conditionality or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation amount of the transactions contemplated hereby, and to pay all related fees and expensesDebt Financing.
Appears in 2 contracts
Sources: Merger Agreement (Nexeo Solutions Holdings, LLC), Merger Agreement (WL Ross Holding Corp.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company (i) true and complete copy copies of a debt commitment executed written commitments, except for that certain fee letter, other than dated the fee letter relating thereto date of this Agreement, from the lenders to the borrower thereunder (collectively, the “"Debt Financing Commitment”Commitments"), pursuant to which the lenders party thereto have agreed, subject only to the terms and conditions set forth therein, to lend provide or cause to be provided to Parent and/or Merger Sub debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement and related fees and expenses (the “"Debt Financing”). Attached as Annex 5.2(e)(ii") to the Parent Disclosure Letter is a and (ii) true and complete copy copies of executed written commitments (collectively, the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “"Equity Financing Commitment” Commitments" and together with the Debt Financing CommitmentCommitments, the “"Financing Commitments”"), pursuant to which the parties thereto have committedagreed, subject only to the terms and conditions set forth therein, to invest provide or cause to be provided to Parent and/or Merger Sub equity financing in the amount amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement and related fees and expenses (the “"Equity Financing” " and together with the Debt Financing CommitmentFinancing, the “"Financing”"). None As of the date of this Agreement, none of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded rescinded, in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to before the date hereofof this Agreement in connection therewith or pursuant thereto, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretoeffect. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a breach or default on the part of Parent or Merger Sub under any of the Debt Financing Commitments, and as . Neither Parent nor Merger Sub is aware of the date hereof Parent has no any reason to believe that any of why the conditions to the Financing contemplated by set forth in the Financing Commitments will would not be satisfied on or that before the Closing Date or such other earlier date as may be set forth in the Financing will not be made available to Parent on the Closing DateCommitments. Subject to the terms and conditions contained in this Agreement and of the Financing Commitments, and subject to the terms and conditions of this Agreement, the aggregate proceeds contemplated by the Financing Commitments, together with the cash on hand of Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds will be sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Financing. Attached as Annex 5.2(e)(i(a) Parent and Holding Company shall cause Holdings and Sub to use its reasonable best efforts to obtain the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy full amount of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments financing contained in the Financing Commitments have consistent with the terms specified and described in the Financing Commitments delivered to the Company by Parent Group; provided, however, it is expressly understood and agreed that Parent Group’s obligations to consummate the Merger on the terms and conditions specified herein are not been withdrawn subject to a financing condition or rescinded in the results of Parent Group’s efforts to obtain the full amount of the financing required to effect the Closing pursuant to Section 1.03 hereof and to satisfy their obligations under Article II hereof, including, depositing (or causing to be deposited) with the Paying Agent and LaSalle sufficient funds to make all payments pursuant to Article II hereof.
(b) Parent Group will keep the Company reasonably informed of the status of the Financing Commitments and the Available Cash and any respect. Parent has fully paid any material developments with respect thereto.
(c) The Company shall provide, and will cause its officers and employees to provide, all commitment fees or other fees necessary cooperation and information in connection with the arrangement and obtaining of the financing contained in the Financing Commitments Commitment as may be reasonably requested by Parent, including, without limitation, facilitating customary due diligence and arranging senior officers, as selected by Parent, to meet with prospective lenders and investors in customary presentations (including “road show” presentations and sessions with rating agencies), cooperation in the preparation and filing of any offering documents, the issuance of any comfort letter, the receipt of any auditors’ consents, certifications of the chief financial officer with respect to solvency matters, the delivery of consolidated pro forma financial information and the use of commercially reasonable efforts to cause each independent auditor to so cooperate or otherwise. Parent shall not amend, supplement, modify or terminate (whether unilaterally or by mutual consent), in a manner either materially adverse to the Company or to the consummation of the Merger, any Financing Commitment, or waive any rights thereunder, prior to the termination of this Agreement, without the written consent of the Company.
(d) The Company acknowledges that, prior to the Effective Time, Parent may, and Parent may request that are payable the Company and its Subsidiaries, take actions with respect to (i) prepaying, redeeming and/or obtaining the consent of the holders of the Company’s outstanding Senior Notes in accordance with the terms of the indenture pursuant to which such notes were issued or (ii) restructuring the Company Credit Facility. The Company agrees to cooperate with such efforts and provide such information or take such actions as may be reasonably requested by Parent Group with respect thereto, including call for prepayment or redemption, or to renegotiate, as the case may be, the Senior Notes; provided, that (i) no such prepayment or redemption shall actually be made until substantially contemporaneous with or after, or, in the case of the call for prepayment, immediately prior to or contemporaneous with, the Effective Time and (ii) no such call for prepayment or redemption shall be required prior to the Effective Time unless the Company is permitted to condition such call for prepayment or redemption on the occurrence of the Effective Time or to withdraw such call for prepayment or redemption if the Effective Time shall not have occurred on or prior to the date hereofapplicable scheduled prepayment or redemption date; and provided, and further, that the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and Company shall not be required to enter into any bank commitment that will become effective prior to the knowledge of Parent, the other parties theretoEffective Time. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Merger Agreement (Northwestern Corp), Merger Agreement (Northwestern Corp)
Financing. Attached as Annex 5.2(e)(i) As of the Second Amendment Date, Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a debt the fully executed commitment letter (such letter, other than as amended, modified or waived from time to time to the fee letter relating thereto (collectivelyextent permitted herein, or any financing commitment in respect of an Alternative Financing as contemplated by the last sentence of Section 5.18(b), the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms ) and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement fee letter (the “Debt FinancingFee Letter”). Attached as Annex 5.2(e)(ii) to executed in connection with the Parent Disclosure Letter is debt financing of a true and complete copy portion of the equity commitment letter, dated as cash component of the date hereof, from GS Capital Partners V Fund, L.P. Merger Consideration (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”) (with certain fee amounts and certain economic terms of the “market flex” provisions redacted). None As of the Financing Commitments has been amended or modified prior to Second Amendment Date, the date of this Agreement, no such amendment or modification Commitment Letter is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are constitutes the legal, valid, binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties theretothereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditors’ rights generally and general principles of equity). As of the Second Amendment Date, the Commitment Letter has not been amended or modified in any respect and the respective commitments therein have not been withdrawn or terminated. There are no conditions precedent or or, to the knowledge of Parent, other contingencies related to the funding of the full amount of the Financing, Financing on the terms set forth in the Commitment Letter (as such terms may be altered in accordance with the “market flex” provisions set forth in the Fee Letter) other than as expressly set forth as of the Second Amendment Date in or contemplated by the Financing CommitmentsCommitment Letter. No As of the Second Amendment Date, no event has occurred whichthat, with or without notice, lapse of time or both, would constitute a default on the part of breach by Parent or Merger Sub any other party thereto under any the Commitment Letter. Subject to the terms and conditions of the Financing CommitmentsCommitment Letter, and as of the date hereof Second Amendment Date, assuming compliance by the Company in all material respects with its covenants contained in Section 5.1 and Section 5.18(d) and assuming satisfaction of the conditions set forth in Section 6.1 and Section 6.3, the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Commitment Letter, together with other financial resources of Parent, including cash on hand and marketable securities, will, in the aggregate, be sufficient to fund the payment of the cash component of the Merger Consideration. As of the Second Amendment Date, assuming satisfaction of the conditions set forth in Section 6.3, Parent has no reason to believe that either it or any other party will be unable to satisfy on a timely basis any condition of the conditions to Financing under the Commitment Letter or the Fee Letter or that the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing Commitment Letter will not be made available to Parent on the Closing Date. Subject to ; provided that Parent is not making any representation or warranty regarding the terms Company’s future performance, the effect of any inaccuracy of the representations and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash warranties of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by in this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation failure of the transactions contemplated hereby, and Company to pay comply with any of its covenants in all related fees and expensesmaterial respects under this Agreement.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Energy Transfer Equity, L.P.), Agreement and Plan of Merger (Southern Union Co)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of a the executed debt commitment letter, other than dated as of the Execution Date, between Parent, Merger Sub and Barclays Bank PLC and Royal Bank of Canada and the executed fee letter associated therewith (provided that provisions in the fee letter relating related to fees, pricing and “flex” provisions as well as other thresholds, caps or other items but only to the extent not affecting conditionality, may be redacted (such commitment letter, together with all exhibits, schedules, annexes, supplements and amendments thereto (including as modified to add additional lenders or other parties thereto) and the fee letter, collectively, the “Debt Financing Commitment”), pursuant to which which, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, Barclays Bank PLC and Royal Bank of Canada have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”)) for the purpose of funding the transactions contemplated by this Agreement. Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy As of the equity commitment letterExecution Date, dated the Debt Financing Commitment has not been amended, restated or otherwise modified or waived and, as of the date hereofExecution Date, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Debt Financing Commitments Commitment have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent has fully paid any As of the Execution Date, there are, and all commitment fees are contemplated to be, no other agreements, side letters or other fees in connection with the Financing Commitments that are payable on or prior arrangements relating to the date hereofDebt Financing Commitment to which Parent or Merger Sub are a party (other than (a) as expressly set forth in the Debt Financing Commitment furnished to the Company pursuant to this Section 5.7(a) or (b) which does not impact the conditionality or aggregate amount of the Debt Financing). As of the Execution Date, and the Debt Financing Commitments are Commitment is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations of Parent, each of Parent and Merger Sub and and, to the knowledge of Parent’s knowledge, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of Lender’s obligation to fund the full amount of the Debt Financing, other than as expressly set forth in or the Debt Financing Commitment. As of the Execution Date, assuming performance by the Company, the Principal Stockholders and the Stockholders’ Representatives of their obligations that are required to be performed prior to the Closing and the accuracy of the representations and warranties set forth in Article 4, and Article 5, (a) the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Debt Financing Commitments. No event has occurred whichCommitment, together with or without noticeParent and Merger Sub’s available cash on hand, lapse of time or bothcash equivalents and marketable securities, would constitute a default will be sufficient on the part Closing Date for Parent and Merger Sub to pay the Closing Cash Consideration and fund the Escrow Fund, and all related fees and expenses and any other payment contemplated in this Agreement and (b) each of Parent or and Merger Sub under does not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent and Merger Sub on the Closing Date. Subject As of the Execution Date, no event has occurred that would result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both would become a default) by Parent or Merger Sub under the Debt Financing Commitment; provided that Parent is not making any representation or warranty regarding the effect of the inaccuracy of the representations and warranties set forth in Article 4, and Article 5 or compliance by the Company or the Stockholders (and their respective Affiliates) with their respective obligations hereunder. Parent has paid all commitment fees or other fees required to be paid on or prior to the terms and conditions contained in this Agreement and Execution Date pursuant to the Debt Financing Commitments, Commitment. The obligations of Parent and Merger Sub will have at hereunder are not subject to any conditions regarding the Closing, together with the available cash ability of the Company Parent and its Subsidiaries on the Closing Date, funds sufficient Merger Sub to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with obtain financing for the consummation of the transactions contemplated hereby, and . Parent acknowledges that obtaining financing is not a condition to pay all related fees and expensesClosing.
Appears in 2 contracts
Sources: Merger Agreement (GXS Worldwide, Inc.), Merger Agreement (Open Text Corp)
Financing. Attached as Annex 5.2(e)(i) to the Parent Disclosure Letter is has received a true and complete copy of a debt commitment letter, other than the fee letter relating thereto dated as of May 7, 2007 (collectively, the “Debt Financing CommitmentCommitment Letter”), from Bank of America, N.A. (the “Lender”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have Lender has committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein provide up to $500,000,000 in senior secured debt financing (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None True, accurate and complete copies of the Financing Commitments has been amended or modified prior to Debt Commitment Letter, as in effect on the date of this Agreement, no such amendment have been furnished to the Investors. The proceeds to Parent from the issuance and sale of the Stage 2 Shares to the Investors pursuant to the ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ together with the financing contemplated by the Debt Commitment Letter (collectively, the “Financing”) is sufficient for Parent to consummate the transactions contemplated by the Merger Agreement on the Closing Date (as defined in the Merger Agreement) and pay the initial merger consideration under the Merger Agreement and all related fees and expenses. As of the date hereof, (A) the Debt Commitment Letter has not been amended or modification is contemplatedmodified, and (B) the respective financing commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees The Debt Commitment Letter, in connection with the Financing Commitments that are payable on or prior to the date hereofform so delivered, and the Financing Commitments are is in full force and effect and are the validis a legal, valid and binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge Knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding As of the full amount date hereof and assuming the accuracy of all representations and warranties of MemberHealth in the FinancingMerger Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub under any term or condition of the Financing Commitments, and as Debt Commitment Letter. As of the date hereof and assuming the accuracy of all representations and warranties of MemberHealth in the Merger Agreement and compliance by MemberHealth with its agreements in the Merger Agreement, Parent has no reason to believe that it will be unable to satisfy on a timely basis any term or condition of closing to be satisfied by it contained in the Debt Commitment Letter. Parent has fully paid, or caused to be fully paid, any and all commitment and other fees required by the terms of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required Debt Commitment Letter to be paid in connection with on or before the consummation of the transactions contemplated hereby, and to pay all related fees and expensesdate hereof.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Universal American Financial Corp), Securities Purchase Agreement (Welsh Carson Anderson & Stowe Ix Lp)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is a true party to and complete copy of has accepted a debt fully executed commitment letterletter dated June 15, other than 2025 (together with all exhibits, annexes and schedules thereto, the fee letter relating “Debt Commitment Letter”) from the lenders party thereto (collectively, the “Debt Financing CommitmentLenders”), ) pursuant to which the lenders party thereto Lenders have agreed, subject only to the terms and conditions set forth thereinthereof, to lend provide debt financing in the amounts set forth therein for therein. The debt financing committed pursuant to the purposes of financing the transactions contemplated by Debt Commitment Letter is referred to in this Agreement (as the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(b) Parent has delivered to the Parent Disclosure Letter is a true Company true, complete and complete copy correct copies of the equity commitment letterexecuted Debt Commitment Letter and any fee letters related thereto, dated as subject, in the case of the date hereofsuch fee letters, from GS Capital Partners V Fundto redaction solely of fee, L.P. (the “Equity Financing Commitmentflex” and together other economic provisions that are customarily redacted in connection with transactions of this type and that could not in any event affect the availability, conditionality or enforceability of, or reduce the aggregate principal amount of, the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein Financing.
(the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None c) As of the Financing Commitments has been amended or modified prior to the date of this Agreement, except as expressly set forth in the Debt Commitment Letter, there are no such amendment (i) conditions precedent to the obligations of the Financing Entities to provide the Debt Financing, or modification is contemplated(ii) contractual contingencies that would permit the Financing Entities to reduce the aggregate principal amount of the Debt Financing, and including any condition or other contingency relating to the respective commitments amount or availability of the Debt Financing pursuant to any “flex” provision contained in the Financing Commitments Debt Commitment Letter or any fee letters related thereto. As of the date of this Agreement, assuming the satisfaction of the conditions set forth in Section 9.01 and Section 9.02, (i) Parent does not have not been withdrawn any reason to believe that it will be unable to satisfy on a timely basis all conditions to be satisfied by it in the Debt Commitment Letter or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable fee letters on or prior to the Closing Date or that the Debt Financing will not be available to Parent on the Closing Date and (ii) Parent does not have knowledge that any of the Lenders will not perform its obligations thereunder. As of the date hereofof this Agreement, there are no side letters or other agreements or other contracts of any kind relating to the Debt Commitment Letter that could adversely affect the availability, enforceability or conditionality of, or reduce the aggregate principal amount of, the Debt Financing contemplated by the Debt Commitment Letter.
(d) The Debt Financing, when funded in accordance with the Debt Commitment Letter (including after giving effect to any “flex” provisions contained in any fee letter), together with other financial resources of Parent, Holdco, Holdco II and Merger Subsidiary, will provide Parent with cash proceeds on the Closing Date sufficient to enable Parent to perform all of Parent’s payment obligations under this Agreement, the Debt Commitment Letter and the Financing Commitments are other Transaction Documents, including (i) payment of the Merger Consideration in full force accordance with Article 2 and effect amounts payable to holders of shares of Preferred Stock pursuant to the Redemption in accordance with Section 8.09, (ii) all payments in respect of Company Options, Company RSUs, Company PSUs and are Company Restricted Stock Awards pursuant to Article 2, (iii) the amounts required to pay off all amounts outstanding under the Credit Agreement and all other amounts identified in the Payoff Letter as of immediately prior to the Effective Time, (iv) all other payment obligations of Parent, Holdco, Holdco II and Merger Subsidiary required to be paid on the Closing Date pursuant to this Agreement and (v) all fees and expenses to be paid at the Closing by the Company in connection with the Merger (such amounts, collectively, the “Transaction Amounts”).
(e) The Debt Commitment Letter constitutes the legal, valid, binding and enforceable obligations obligation of Parent, Merger Sub and to the knowledge of Parent, of all the other parties thereto. There are no conditions precedent or , in each case, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other contingencies related to the funding laws affecting creditors’ rights generally and general principles of equity, and, as of the date of this Agreement, are in full amount force and effect. As of the Financingdate of this Agreement, other than as set forth in or contemplated by the Financing Commitments. No (i) no event has occurred which, which (with or without notice, lapse of time or both, would ) could constitute a default on the part of breach by Parent or Merger Sub under any of the Financing Commitments, and as terms of the date hereof Debt Commitment Letter and (ii) assuming the satisfaction of the conditions set forth in Section 9.01 and Section 9.02, Parent has no does not have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied by it on a timely basis. Parent has paid in full any and all commitment fees or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid pursuant to the terms of the Debt Commitment Letter or any related fee letter on or before the date of this Agreement. As of the date of this Agreement, the Debt Commitment Letter has not been modified, amended or altered and none of the commitments under the Debt Commitment Letter have been withdrawn or rescinded in connection with any respect. As of the date of this Agreement, no modification of, or amendment to, the Debt Commitment Letter is currently contemplated (other than any customary modification or amendment solely to join additional lenders, arrangers, bookrunners or agents to the Debt Commitment Letter as contemplated thereunder, which joinders, individually and in the aggregate, could not reasonably be expected to prevent, impede or delay the consummation of the Merger or the other transactions contemplated herebyby this Agreement).
(f) Notwithstanding anything in this Agreement to the contrary, and in no event shall the receipt or availability of any funds or financing (including, for the avoidance of doubt, the Debt Financing) by or to pay all related fees and expensesParent or any of its Affiliates or any other financing or other transaction be a condition to any of the obligations of Parent hereunder.
Appears in 2 contracts
Sources: Merger Agreement (Cantaloupe, Inc.), Merger Agreement (Cantaloupe, Inc.)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy of a debt commitment letter, other than (i) the fee letter relating thereto executed Debt Commitment Letter and (collectively, ii) the “executed Debt Financing Commitment”), pursuant Fee Letter (redacted as to which the lenders party thereto have agreed, subject to the economic and flex terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”only). Attached as Annex 5.2(e)(ii) to the Parent Disclosure The Debt Commitment Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has not been amended or modified in any manner prior to the date of this Agreement. Neither Parent nor any of its affiliates has entered into any agreement, no such amendment side letter or modification is contemplatedother arrangement relating to the financing of the Transactions, other than as set forth in the Debt Commitment Letter and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no Debt Fee Letter which would impose conditions precedent or other contingencies related to the funding of the full amount of the Financing. The commitments contained in the Debt Commitment Letter have not been withdrawn or rescinded in any respect prior to the date of this Agreement. The Debt Commitment Letter is in full force and effect and represents (A) a valid, binding and enforceable obligation of MIFSA, a wholly-owned Subsidiary of Parent, and (B) to the knowledge of Parent, a valid, binding and enforceable obligation of each other than as set forth in party thereto to provide the financing contemplated thereby subject only to the satisfaction or contemplated by waiver of the Financing CommitmentsConditions, in the case of each of clauses (A) and (B) subject to the qualification that such enforceability may be limited by bankruptcy, insolvency, reorganization or other laws of general application relating to or affecting rights of creditors and that equitable remedies, including specific performance, are discretionary and may not be ordered. No Parent has caused MIFSA to fully pay (or cause to be paid) any and all commitment fees and other amounts that are required to be paid pursuant to the terms of the Debt Commitment Letter and the Debt Fee Letter on or prior to the date of this Agreement. As of the date of this Agreement, no event has occurred which, with or without notice, lapse of time or both, would reasonably constitute a breach or default on the part of Parent or Merger Sub MIFSA or, to the knowledge of Parent, any other party thereto under any the Debt Commitment Letter. There are no conditions precedent related to the funding of the full amount of the Financing, other than the Financing Commitments, and as Conditions. As of the date hereof of this Agreement, Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Conditions will not be satisfied or satisfied, nor does Parent have knowledge, as of the date of this Agreement, that the Financing will not be made available to Parent on the Closing Date. Subject to Date in accordance with the terms of the Debt Commitment Letter.
(b) The proceeds of the Financing, if funded, together with available cash of Parent and conditions contained Merger Sub, shall constitute sufficient funds to consummate the Transactions, including the making of all required payments in connection with the Transactions, including payment of the Merger Consideration and Fractional Share Consideration and all other amounts to be paid pursuant to this Agreement and the Financing Commitments, Parent associated costs and Merger Sub will have at the Closing, together with the available cash expenses of the Company and its Subsidiaries Transactions on the Closing Date. Notwithstanding anything to the contrary contained herein, in no event shall the receipt or availability of any funds sufficient or financing by Parent or any of its affiliates be a condition to pay the cash portion any of the aggregate Per Share Parent’s or Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesSubs’ obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (Questcor Pharmaceuticals Inc), Merger Agreement (Mallinckrodt PLC)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy fully executed copies of a debt commitment letter, other than (i) the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fundamong Merger Sub, L.P. Credit Suisse Securities (USA) LLC, Credit Suisse AG, Jefferies Finance LLC, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., HSBC Bank USA, National Association and HSBC Securities (USA) Inc. (the “Equity Financing Commitment” Debt Commitment Letter”) and (ii) the fee letter, dated as of the date hereof, among Merger Sub, Credit Suisse Securities (USA) LLC, Credit Suisse AG, Jefferies Finance LLC, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., HSBC Bank USA, National Association and HSBC Securities (USA) Inc. (together with the Debt Financing CommitmentCommitment Letter, the “Financing CommitmentsDebt Letters”), in each case, including all exhibits, schedules, annexes and amendments to such letters in effect as of the date of this Agreement, pursuant to which the parties thereto have committed, and subject to the terms and conditions set forth therein, thereof each of the parties thereto (other than Parent) have severally committed to invest provide the amount of debt financing set forth therein to Merger Sub (such debt financing, including the offering of the “Equity FinancingNotes” and together with as contemplated by the Debt Financing CommitmentCommitment Letter, but subject to the provisions of Section 7.5, the “Debt Financing”). None ) for the purposes set forth in such Debt Letters.
(b) As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments Debt Letters are in full force and effect and are constitute the legal, valid, enforceable and binding and enforceable obligations of Parent, Merger Sub and and, to the knowledge Knowledge of Parent, the other parties thereto, subject in each case to the Enforceability Exceptions. As of the date hereof, the Debt Letters have not been amended, restated or otherwise modified in any respect (and no amendment, restatement or modification is contemplated, except to add purchasers, lenders or agents) and the commitments contained in the Debt Letters have not been withdrawn, rescinded, modified or terminated in any respect by Parent or, to the Knowledge of Parent, any other party thereto (and, to the Knowledge of Parent, no such withdrawal, rescission, modification or termination is contemplated). There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingDebt Financing pursuant to the Debt Letters, other than as expressly set forth in such letters. As of the date hereof, there are no side letters or other agreements, Contracts or arrangements related to the Debt Financing or the funding of all or any part of the Debt Financing other than as expressly set forth in the Debt Letters (except for any engagement letters or fee discount letters related to the Debt Financing). Assuming the conditions set forth in Section 8.1 and in Section 8.2 are satisfied at Closing and assuming the accuracy of the Company’s representations and warranties in Article III, and subject to the terms and conditions of the Debt Letters, the net proceeds contemplated from the Debt Financing will, in the aggregate at and as of the Closing Date along with all other funds available to Parent including the Escrow Account, be sufficient for the satisfaction of all of Parent’s payment obligations under this Agreement, including the payment of the Merger Consideration and all fees and expenses reasonably expected to be incurred in connection therewith or required to be paid by Parent hereunder. As of the Financing Commitments. No date of this Agreement, assuming the satisfaction of the conditions to the Merger set forth in Section 8.1 and in Section 8.2 and assuming the accuracy of the Company’s representations and warranties in Article III, no event has occurred which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a breach or default on the part of Parent or Merger Sub under the Debt Letters or, to the Knowledge of Parent, any of other party to the Financing Commitments, and as Debt Letters. As of the date hereof hereof, assuming the satisfaction of the conditions to the Merger set forth in Section 8.1 and in Section 8.2 and assuming the accuracy of the Company’s representations and warranties in Article III, Parent has no reason to believe that any of the conditions to the Debt Financing contemplated contained in the Debt Letters, as the case may be, to be satisfied by the Financing Commitments it will not be satisfied or satisfied, nor does Parent have Knowledge, as of the date of this Agreement, that the full amount of the Debt Financing will not be made available to Parent on and/or Merger Sub as of the time at which the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts is required to be paid in connection with the consummation of the transactions contemplated hereby, and occur pursuant to pay all related fees and expensesSection 2.2.
Appears in 2 contracts
Sources: Merger Agreement (Wmih Corp.), Merger Agreement (Nationstar Mortgage Holdings Inc.)
Financing. Attached as Annex 5.2(e)(i(a) Merger Subsidiary has received and furnished copies to the Parent Disclosure Letter is Company of (i) a true commitment letter to provide financing to the Company or a Subsidiary of the Company (including the Summary of Terms and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectivelyConditions annexed thereto, the “Debt Financing Commitment”)"Commitment Letter") with The Chase Manhattan Bank (the "Bank") dated as of July 31, pursuant to 2000, and (ii) the Exchange and Voting Agreement. The funds which the lenders party thereto have Bank has agreed, subject to the terms and conditions set forth thereinof the Commitment Letter, to lend provide will be sufficient, when taken together with other funds available to Merger Subsidiary and assuming compliance by the Company Shareholder, IS and FS with the Exchange and Voting Agreement, to enable it to provide to the Exchange Agent the aggregate Merger Consideration and other amounts set forth therein for owing as a result of the purposes Transactions, to refinance substantially all of financing the transactions existing debt of the Company and its Subsidiaries, to the extent contemplated by this Agreement the Transactions as contemplated by the Commitment Letter, and to pay all related fees and expenses (collectively, the “Debt Financing”"Required Amount"). Attached as Annex 5.2(e)(ii.
(b) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. hereof (i) the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment Letter has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are is in full force and effect and are the valid, binding and enforceable obligations of Parent, (ii) Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent Subsidiary has no reason to believe that any of the conditions to set forth in the Financing contemplated by the Financing Commitments Commitment Letter will not be satisfied or that satisfied.
(c) Merger Subsidiary has received and furnished a copy to the Financing will not be made Company of the equity commitment letters (the "Equity Commitment Letters") addressed to Merger Subsidiary from Sponsor and each of the other equity investors in Merger Subsidiary (the "Equity Investors"), each dated as of July 31, 2000 pursuant to which the Equity Investors have committed to make available to Parent on the Closing Date. Subject Merger Subsidiary certain funds, subject to the terms and conditions contained in this Agreement and therein, for the Financing Commitments, Parent and Merger Sub will have at purpose of consummating the Closing, together with the available cash Transactions. As of the Company date hereof, (i) no Equity Commitment Letter has been withdrawn and its Subsidiaries on the Closing Date, funds sufficient each Equity Commitment Letter is in full force and effect and (ii) Merger Subsidiary has no reason to pay the cash portion believe that any of the aggregate Per Share Merger Consideration conditions set forth in any Equity Commitment Letter will not be satisfied.
(and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitmentsd) and any other amounts required to be paid in connection with Immediately after the consummation of the transactions contemplated herebyTransactions, the Surviving Corporation (i) will not be insolvent, (ii) will not be left with unreasonably small capital, and (iii) will not have debts beyond its ability to pay all related fees and expensessuch debts as they mature.
Appears in 2 contracts
Sources: Recapitalization Agreement (Mascotech Inc), Recapitalization Agreement (Mascotech Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has available cash resources and financing in an amount sufficient to enable Purchaser to purchase Company Shares pursuant to the Parent Disclosure Letter is Offer and to consummate the Merger. Without limiting the foregoing: (a) Purchaser has delivered to the Company a true and complete copy of a debt an executed commitment letterletter dated March 24, other than the fee letter relating thereto 2007 from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and CitiGroup Global Markets, Inc. (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the lender parties thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest lend the amount amounts set forth therein for the purpose of funding the consideration payable by Parent and the Purchaser in respect of the Company Shares and Company Options (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None As of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment : (i) the Debt Commitment Letter has not been amended or modification is contemplated, modified; and (ii) none of the respective commitments contained in the Financing Commitments have not Debt Commitment Letter has been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding by such lenders of the full amount of the Debt Financing, other than as set forth in or contemplated by the Financing CommitmentsDebt Commitment Letter. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as As of the date hereof Parent has no reason to believe that any of this Agreement, and assuming the accuracy of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained Company’s representations set forth in this Agreement and the Company’s compliance with its covenants set forth in this Agreement, in each case such that the conditions to the Debt Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement the Debt Commitment Letter are satisfied, neither Parent nor Purchaser has any reason to believe that it will be unable to satisfy on a timely basis any term or the Financing Commitments) and any other amounts required condition to be paid satisfied by it contained in the Debt Commitment Letter. Parent or Purchaser will fully pay any and all commitment fees that are incurred and are due and payable in connection with the consummation Debt Financing as and when they become payable. In accordance with Paragraph 4 of Annex II to the Debt Commitment Letter, on April 26, 2007, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc., CitiGroup Global Markets, Inc., and other members of the transactions contemplated herebylender syndicate arranged under the terms of the Debt Commitment Letter, and entered into a consent in the form attached hereto as Exhibit C.” Exhibit A of this Amendment is hereby appended to pay all related fees and expensesthe Merger Agreement as Exhibit C to the Merger Agreement.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Beckman Coulter Inc), Merger Agreement (Biosite Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true correct and complete copy of the equity commitment letterCommitment Letter and any related fee letters (which, dated as with respect to any such fee letters, may be redacted for provisions related to fees, “flex” terms, economic terms, original issue discount amounts and other confidential terms, provided that no redaction (other than with respect to original issue discount amounts) covers terms that would adversely affect the aggregate amount, conditionality, availability or termination of the financing contemplated therein). As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitmentof this Agreement, the “Financing Commitments”)Commitment Letter is in full force and effect and is a valid and binding obligation of Parent and, pursuant to which the knowledge of Parent, the other parties thereto have committedthereto, enforceable in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or other similar Laws affecting creditor’s rights generally and the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”availability of equitable relief). None There are no conditions precedent related to the funding of the full amount of the Financing Commitments under the Commitment Letter that are not expressly set forth in the Commitment Letter. The Commitment Letter has not been amended or modified in any manner prior to the date of this Agreement. As of the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn or rescinded in any respect. As of the date of this Agreement, neither Parent nor any of its Subsidiaries has entered into any agreement, side letter or other arrangement relating to the Financing under the Commitment Letter (excluding any agreement, letter or arrangement relating to any potential permanent, replacement or alternative financing) other than the Commitment Letter and any related fee letters provided to the Company under this Section 4.12. As of the date of this Agreement, Parent has fully paid (or caused to be paid) any and all commitment fees or and other fees and amounts that are due and payable in connection with the Financing Commitments that are payable on or under the Commitment Letter prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties theretothis Agreement. There are no conditions precedent or other contingencies related to the funding As of the full amount date of the Financingthis Agreement, other than as set forth in or contemplated by the Financing Commitments. No no event has occurred which, with or without notice, lapse of time or both, would reasonably constitute a breach or default on the part of Parent or Merger Sub or, to the knowledge of Parent, any other party thereto under the Commitment Letter that could result in any portion of the Financing Commitments, and as to be unavailable. As of the date hereof of this Agreement, assuming the representations and warranties of the Company contained in this Agreement are true and correct in all material respects and the performance of all obligations and compliance with all covenants and agreements required by this Agreement to be performed or complied with at or prior to the Closing by the Company in all material respects, Parent has no reason to believe that any of the conditions to the Financing contemplated by under the Financing Commitments Commitment Letter will not be satisfied on the Closing Date or that the Financing will not be made available to Parent on the Closing Date. Subject Assuming the Financing is funded in accordance with the Commitment Letter, Parent will have at Closing all funds necessary to consummate the Merger and the transactions contemplated thereby and pay the fees and expenses of Parent due on the Closing Date (including after giving effect to any original issue discount amounts and the exercise of any “flex” rights with respect thereto). Notwithstanding anything to the terms contrary contained herein, (i) in no event shall the receipt or availability of any funds or financing by Parent or any of its Affiliates be a condition to any of Parent or Merger Sub’s obligations hereunder and conditions (ii) it is understood and agreed that a breach of the representations and warranties contained in this Section 4.12 shall not result in the failure of a condition precedent to the Company’s obligations under this Agreement and the Financing Commitmentsif, notwithstanding such breach, Parent and Merger Sub will have at are willing and able to consummate the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt transactions contemplated by this Agreement or on the Financing Commitments) and any other amounts required to be paid Closing Date in connection accordance with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesterms hereof.
Appears in 2 contracts
Sources: Merger Agreement (Linear Technology Corp /Ca/), Merger Agreement (Analog Devices Inc)
Financing. Attached as Annex 5.2(e)(i(a) Marvell and HoldCo shall use their respective reasonable best efforts to do all things necessary or advisable to arrange, obtain and consummate the Debt Financing on or prior to the Parent Disclosure Letter date the Closing is a true required to be effected in accordance with Section 1.3, on the terms and complete copy of a debt commitment letterconditions (including, other than to the fee letter relating thereto (collectivelyextent applicable, the “flex” provisions) described in the Debt Commitment Letters (it being understood that, for purposes of this Section 5.18, references to the Debt Commitment Letters shall be deemed to include any Fee Letter), including using their respective reasonable best efforts to: (i) enter into definitive agreements with respect to the Debt Financing Commitment”)on the terms and conditions (as such terms may be modified or adjusted in accordance with the terms, pursuant to which and within the lenders party thereto have agreedlimits, of the “flex” provisions contained in any Fee Letter or as otherwise agreed by Marvell, HoldCo and the Financing Sources, subject to the terms restrictions on amendments of the Debt Commitment Letters set forth below) contemplated by the Debt Commitment Letters (the “Definitive Debt Financing Agreements”); and (ii) satisfy (or obtain the waiver of) on a timely basis all conditions and comply with all obligations applicable to Marvell and HoldCo, including with respect to the payment of any commitment, engagement or placement fees, in the Debt Commitment Letters and the Definitive Debt Financing Agreements to the extent a failure to do so would result in a failure of a condition precedent to the funding of the Debt Financing. If all conditions to the Debt Financing have been satisfied and the conditions set forth thereinin Section 6 have been satisfied or waived, Marvell and HoldCo shall use their reasonable best efforts to lend take all actions within its control to cause the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) Financing Sources to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with fund the Debt Financing Commitmentat or prior to Closing, including to seek to enforce its rights with respect to funding under the “Debt Commitment Letters and the Definitive Debt Financing Commitments”)Agreements in the event of a breach thereof by the Financing Sources party thereto.
(b) Marvell and HoldCo shall not agree to any amendments or modifications to any condition, pursuant to which or waive any of their respective rights, under the parties thereto have committedDebt Commitment Letters or the Definitive Debt Financing Agreements without the prior written consent of the Company if any such amendment, subject to modification or waiver of the terms and conditions set forth therein, to invest Debt Commitment Letters or the Definitive Debt Financing Agreements would (x) reduce the aggregate amount set forth therein (the “Equity Financing” and together with of the Debt Financing Commitmentto an amount that, together with HoldCo’s and Marvell’s cash on hand, would be less than an amount reasonably required to consummate the “Financing”). None Mergers, (y) impose new or additional conditions or (z) otherwise amend, modify or expand any conditions to the initial funding of the Debt Financing, in each case, in a manner that would reasonably be expected to: (i) materially delay or prevent the Closing from occurring; or (ii) adversely impact the ability of Marvell or HoldCo to (A) enforce their respective rights against the other parties to the Debt Commitment Letters or the Definitive Debt Financing Commitments has been amended Agreements or modified prior (B) cause the Mergers to be timely consummated (it being understood that Marvell and HoldCo may amend, restate, modify or supplement each of the Debt Commitment Letters or the Definitive Debt Financing Agreements to add lenders, lead arrangers, bookrunners, underwriters, syndication agents or similar entities that have not executed such Debt Commitment Letters as of the date of this Agreement, no such amendment or modification is contemplated, to provide for the assignment and reallocation of a portion of the respective debt financing commitments contained in such Debt Commitment Letters or the Definitive Debt Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any Agreements and all commitment fees or to grant customary approval rights to such additional arrangers and other fees Entities in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than such appointments as expressly set forth in such Debt Commitment Letters, in each case, without the Company’s consent, provided that such amendment would not reasonably be expected to prevent or contemplated by materially delay the Closing). Marvell and HoldCo shall use their respective reasonable best efforts to maintain in effect the Debt Commitment Letters (and any Definitive Debt Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on Agreements) until the part of Parent or Merger Sub under any earliest to occur of the Financing CommitmentsClosing, and as the consummation of the date hereof Parent has no reason to believe that Debt Financing and the valid termination of this Agreement.
(c) If any portion of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent becomes unavailable on the Closing Date. Subject to the terms and conditions (including any “flex” provisions) contemplated in the Debt Commitment Letters, and such portion of the Debt Financing is reasonably determined by Marvell to be required to consummate the Mergers and perform its other obligations under this Agreement, then Marvell shall promptly notify the Company in writing and use its reasonable best efforts to, as promptly as practicable following the occurrence of such event, arrange and obtain from alternative sources of debt financing that are reasonably acceptable to Marvell in an amount (together with all other sources of cash or other financing sources available to Marvell) sufficient to satisfy the Financing Uses. The exercise of such reasonable best efforts shall not require Marvell or HoldCo to obtain additional equity or debt with an all-in yield or tenor that is different than the debt financing set forth in the Debt Commitment Letters (after giving effect to the maximum amount of any “flex” provisions contained therein). The new debt commitment letter and fee letter entered into in connection with any such alternative financing pursuant to Section 5.18(b) or this Section 5.18(c), are referred to, respectively, as a “New Debt Commitment Letter” and a “New Fee Letter.” None of Marvell, HoldCo, Delaware Merger Sub or Bermuda Merger Sub shall enter into such New Debt Commitment Letter without the consent of the Company if the terms thereof, or if the conditions to funding thereunder, would reasonably be expected to materially impair, delay or prevent the Closing or would, when taken as a whole, be materially less favorable to Marvell or HoldCo than those set forth in the Debt Commitment Letters. If Marvell and/or HoldCo enter into any New Debt Commitment Letter: (i) any reference in this Agreement to the “Debt Financing” shall mean the debt financing contemplated by the Debt Commitment Letters as modified pursuant to clause “(ii)” below; and (ii) any reference in this Agreement to the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration “Debt Commitment Letters” (and any repayment or refinancing definition incorporating the term “Debt Commitment Letters,” including the definition of debt contemplated by this Agreement or “Definitive Debt Financing Agreements”) shall be deemed to include (A) the Financing Commitments) Debt Commitment Letters and any other amounts required Fee Letter to be paid in connection with the consummation of extent not superseded by a New Debt Commitment Letter or New Fee Letter, as the transactions contemplated herebycase may be, at such time, and (B) any New Debt Commitment Letter or New Fee Letter to pay all related fees and expensesthe extent then in effect.
Appears in 2 contracts
Sources: Merger Agreement (Marvell Technology Group LTD), Agreement and Plan of Merger and Reorganization (INPHI Corp)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true true, accurate and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “executed Debt Financing Commitment”)Commitment Letter, pursuant to which the lenders party thereto have agreedwhich, and subject to the terms and conditions set forth thereinthereof, the lenders party thereto have committed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein to VimpelCom for the purpose of VimpelCom providing debt financing for acquisitions, including the acquisition of shares of Common Stock of the Company (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this AgreementThe Debt Commitment Letter, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any form so delivered, is a legal, valid and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereofbinding obligation of VimpelCom and, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent The Debt Commitment Letter has not been amended, modified, withdrawn or other contingencies related to the funding of the full amount of the Financing, other than as set forth rescinded in or contemplated by the Financing Commitmentsany respect. No event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent VimpelCom under any term or condition of the Debt Commitment Letter. VimpelCom has fully paid any and all commitment fees or other fees required by the Debt Commitment Letter to be paid on or before the date of this Agreement.
(b) Merger Sub has delivered to the Company a true, accurate and complete copy of the executed Merger Sub Commitment Letter, pursuant to which, and subject to the terms and conditions thereof, VimpelCom has committed to lend the amount set forth therein to Merger Sub for the purpose of funding the Offer, the Merger and the other transactions contemplated by this Agreement (the “Merger Sub Financing”). The Merger Sub Commitment Letter, in the form so delivered, is a legal, valid and binding obligation of the parties thereto. The Merger Sub Commitment Letter has not been amended, modified, withdrawn or rescinded in any respect. No event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of VimpelCom or Merger Sub under any term or condition of the Merger Sub Commitment Letter.
(c) Assuming the accuracy of the representations and warranties contained in the first four sentences of Section 4.5(a) and the first sentence of Section 4.5(b), the proceeds of the Merger Sub Financing, together with cash otherwise available to Merger Sub, are sufficient to allow Merger Sub to perform all of its obligations under this Agreement, including payment of (i) the aggregate consideration to be paid in the Offer, (ii) the Merger Consideration, (iii) the Reverse Termination Fee, (iv) the Additional Termination Fee and (v) all fees and expenses to be paid by Parent or Merger Sub related to the transactions contemplated by this Agreement. There are no contractual contingencies, side letters or similar arrangements under any agreement relating to the transactions contemplated by this Agreement, the Financing or Merger Sub Financing, as the case may be, or the Merger Sub Financing to which Parent, Merger Sub, VimpelCom or any of their Affiliates is a party that would permit the lenders party to the Debt Commitment Letter or VimpelCom with respect to the Merger Sub Commitment Letter to reduce the total amount of the Financing Commitments, and as or impose any additional condition precedent to the availability of the date hereof Parent has no reason to believe that any of Financing or the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing DateMerger Sub Financing. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at acknowledge that their obligation to consummate the Closing, together with Offer and the available cash Merger are not conditioned on the receipt of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement Financing or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesMerger Sub Financing.
Appears in 2 contracts
Sources: Merger Agreement (Golden Telecom Inc), Escrow Agreement (Lillian Acquisition, Inc.)
Financing. Attached as Annex 5.2(e)(i(a) Purchaser has delivered to Seller complete and correct copies of the Parent Disclosure Letter is a true and complete copy of a executed debt commitment letter, other than dated as of the date hereof, between Purchaser and the financial institutions identified therein and the executed fee letters, fee credit letters and engagement letters associated therewith (provided, that the amounts and percentages in the fee letter relating related to fees, certain other economic terms and the “flex” provisions included therein, but only to the extent that none of such provisions would adversely affect conditionality, may be redacted) (such commitment letter, together with all exhibits, schedules, annexes, supplements and amendments thereto (and any related redacted fee letters, collectively, the “Debt Financing Commitment”), pursuant to which which, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, the Financing Sources have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”)) for the purpose of funding the transactions contemplated by this Agreement. Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with x) the Debt Financing CommitmentCommitment has not been amended, restated or otherwise modified or waived since copies thereof were delivered to Seller, (y) except as permitted by Section 6.12, no such amendment, restatement, modification or waiver is contemplated and (z) the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with commitment contained in the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereof, there are, and are contemplated to be, no other agreements, side letters or arrangements (oral or written) relating to the Debt Financing Commitments are Commitment (other than customary engagement letters or as expressly set forth in the Debt Financing Commitment furnished to Seller pursuant to this Section 5.13(a), but in each case of the foregoing, which do not adversely affect the conditionality, enforceability, termination, principal amount or availability of the Debt Financing). As of the date hereof, the Debt Financing Commitment is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations of Parenteach of Purchaser and, Merger Sub and to the knowledge Knowledge of ParentPurchaser, the other parties thereto, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at Law. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingDebt Financing (including any “flex” provisions), other than as expressly set forth in or the Debt Financing Commitment. Assuming (A) the Debt Financing is funded in accordance with the Debt Financing Commitment, (B) the accuracy of the representations and warranties set forth in Articles III and IV, and (C) performance by Seller and its Subsidiaries of their obligations that are required to be performed prior to the Closing, the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Debt Financing CommitmentsCommitment, together with Purchaser’s unrestricted cash on hand and other access to capital, in the aggregate will be sufficient for Purchaser to pay the Estimated Purchase Price on the Closing Date, any payment required to be made by Purchaser pursuant to Section 2.04 (if any) and all related fees and expenses and any other payment contemplated in this Agreement or the Debt Financing Commitment. No Assuming the accuracy of the representations and warranties set forth in Articles III and IV and performance by Seller and its Subsidiaries of their obligations under this Agreement, as of the date hereof, (I) no event has occurred which, that would result in any breach or violation of or constitute a default (or an event which with notice or without notice, lapse of time or both, both would constitute become a default on default) by Purchaser under the part of Parent or Merger Sub under Debt Financing Commitment and (II) Purchaser does not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent Purchaser on the Closing Date. Subject Purchaser has fully paid or has caused to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment be fully paid all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with on or prior to the date hereof pursuant to the Debt Financing Commitment.
(b) The obligations of Purchaser under this Agreement are not subject to any conditions regarding the ability of Purchaser, any of its Affiliates or any other Person to obtain financing for the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Acquisition Agreement (SB/RH Holdings, LLC), Acquisition Agreement (Energizer Holdings, Inc.)
Financing. Attached as Annex 5.2(e)(i) As of the date hereof, ▇▇▇▇▇▇ has delivered to the Parent Disclosure Letter is Company a true and complete fully executed copy of a debt commitment letterthe Debt Commitment Papers (together with all exhibits, schedules and annexes thereto). The aggregate proceeds contemplated by the Financing pursuant to the Debt Commitment Papers will be, if funded in accordance with the terms and conditions of the Debt Commitment Papers (both before and after giving effect to any “market flex” provisions contained in the Fee Letter), sufficient, when taken together with available cash, lines of credit or other than sources of immediately available funds, for Parent to consummate the fee letter relating thereto Transactions, including the payment of the Cash Consideration and any fees and expenses of or payable by Parent under this Agreement and the Debt Commitment Papers that are due and payable on the Closing Date (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt FinancingRequired Amount”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing CommitmentCommitment Papers have been accepted by Parent, are in full force and effect and constitute the “Financing Commitments”)legal, pursuant to which the parties thereto have committed, subject to the terms valid and conditions set forth thereinbinding obligation of Parent and, to invest Parent’s knowledge, each other party thereto, enforceable against each party thereto in accordance with its terms, except insofar as such enforceability may be limited by the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respectCreditors’ Rights. Parent has fully paid (or caused to be paid) any and all commitment fees or and other fees in connection with the Financing Commitments amounts that are due and payable on or prior to the date of this Agreement pursuant to the Debt Commitment Papers or otherwise in connection with the Financing. As of the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred occurred, and there is no condition or circumstance existing, which, with or without notice, lapse of time or both, would could constitute or could reasonably be expected to constitute a breach or default on the part of Parent or Merger Sub or, to Parent’s knowledge, any other party thereto under any the Debt Commitment Papers. There are no conditions precedent related to the funding of the full amount of the Financing Commitmentson the terms set forth in the Debt Commitment Papers other than as expressly set forth in the Debt Commitment Papers. No counterparty to the Debt Commitment Papers has any right to impose, and Parent does not have an obligation to accept, any condition precedent to such funding other than as expressly set forth in the Debt Commitment Papers, or any reduction to the aggregate amount available under the Debt Commitment Papers at Closing (nor any term or condition that would have the effect of reducing the aggregate amount available under the Debt Commitment Papers at Closing) to an amount that would be insufficient for Parent to consummate the Transactions, including payment of the Required Amount. Assuming (a) the accuracy of Company’s representations and warranties in Article IV of this Agreement and (b) the performance by Company of its obligations in Article VI of this Agreement, as of the date hereof hereof, Parent has no does not have any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the full amount of the Financing needed to pay the Required Amount will not be made available to Parent on or prior to the Closing Date. Subject As of the date hereof, no event has occurred that, with or without notice, lapse of time, or both, would reasonably be expected to constitute a failure to satisfy a condition precedent on the part of Parent under the terms and conditions of the Debt Commitment Papers. None of the Debt Commitment Papers have been modified or amended as of the date hereof (provided that the existence or exercise of “market flex” provisions contained in the Fee Letter shall be deemed not to constitute a modification or amendment of the Debt Commitment Papers) and, as of the date hereof, none of the commitments under the Debt Commitment Papers have been withdrawn or rescinded in any respect. As of the date hereof, there are no other agreements, side letters or arrangements to which Parent or any of its Affiliates is a party relating to the Financing that could adversely affect the availability of the Financing that have not been disclosed to the Company. Parent acknowledges and agrees that it is not a condition to the Closing or to any of its obligations under this Agreement and that Parent obtains financing (including the Financing Commitmentsor any alternative financing) for, Parent and Merger Sub will have at the Closingor related to, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesby this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Ranger Oil Corp), Merger Agreement (Ranger Oil Corp)
Financing. Attached as Annex 5.2(e)(i(a) At the Acceptance Time, Acquisition Sub will have available cash resources and/or financing in an aggregate amount sufficient to enable Acquisition Sub to consummate the Offer and for the satisfaction of all of Parent’s and Acquisition Sub’s obligations under this Agreement. Acquisition Sub has delivered to the Parent Disclosure Letter is a true Company accurate and complete copy of copies of: (i) a fully executed debt commitment letterletter (together with all annexes, other than the fee letter relating thereto schedules and exhibits thereto) from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc. and ▇▇▇▇▇▇▇ Sachs Bank USA (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreedterms, but subject to the terms and conditions expressly set forth therein, of which the counterparties thereto have committed to lend provide Parent and Acquisition Sub with debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement Offer (such debt financing, the “Debt Financing”). Attached as Annex 5.2(e)(ii.
(b) to the Parent Disclosure The Commitment Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together each definitive agreement with respect to the Debt Financing Commitment, (which definitive agreements are referred to collectively in this Agreement as the “Definitive Financing CommitmentsAgreements”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to ) entered into after the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or Agreement but prior to the date hereofAcceptance Time (if any), and the Financing Commitments are will be, in full force and effect and are the each case, a legal, valid, binding and enforceable obligations obligation of ParentParent and Acquisition Sub and, Merger Sub and to the knowledge of Parent, the other parties theretothereto in accordance with their respective terms and subject to: (i) the respective conditions expressly set forth therein; (ii) laws of general application relating to bankruptcy, insolvency and the relief of debtors; and (iii) rules of law governing specific performance, injunctive relief and other equitable remedies. As of the date of this Agreement, the Commitment Letter has not been withdrawn, modified, terminated or rescinded in any respect, amended, restated or otherwise modified or waived. There are no conditions precedent or other contingencies related to the funding or investing, as applicable, of the full amount of the Debt Financing, other than as expressly set forth in or expressly contemplated by the Commitment Letter. As of the date of this Agreement, there are no side letters or other contracts or arrangements related to the Debt Financing Commitments. No (except for: (x) customary fee letters, a complete copy of each of which has been provided to the Company, with only the fee amounts and certain other terms (none of which would adversely affect the amount or availability of the Debt Financing) redacted, relating to the Debt Financing between Parent and Acquisition Sub, on the one hand, and the providers of the Debt Financing, on the other hand; and (y) customary engagement letters) other than the Commitment Letter.
(c) As of the date of this Agreement: (i) no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default), in each case, on the part of Parent or Merger Acquisition Sub nor, to Parent’s knowledge, any other counterparty thereto, under the Commitment Letter; and (ii) neither Parent nor Acquisition Sub has any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing or any other funds necessary for the satisfaction of all of Parent’s and Acquisitions Sub’s obligations under this Agreement will not be made available to Parent on at the Closing Date. Subject to the terms and conditions contained in this Agreement Acceptance Time and the Financing CommitmentsEffective Time, as applicable. As of the date of this Agreement, neither Parent nor Acquisition Sub is aware of any actual or potential failure to satisfy any condition precedent or other contingency expressly set forth in the Commitment Letter. As of the date of this Agreement, Parent and Merger Acquisition Sub have no reason to believe that they will have at be unable to satisfy the Closing, together with conditions to funding contained in the available cash Commitment Letter. As of the Company and its Subsidiaries on the Closing Datedate of this Agreement, funds sufficient to pay the cash portion neither Parent nor Acquisition Sub is aware of any fact or occurrence that makes any of the aggregate Per Share Merger Consideration (representations or warranties of Parent or Acquisition Sub relating to Parent and Acquisition Sub in the Commitment Letter inaccurate in any repayment material respect. To the extent required, Parent has fully paid all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with prior to the consummation date of this Agreement pursuant to the transactions contemplated hereby, and to pay all related fees and expensesCommitment Letter.
Appears in 2 contracts
Sources: Merger Agreement (Riverbed Technology, Inc.), Merger Agreement (Opnet Technologies Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent and MergerSub shall use their reasonable best efforts to arrange and obtain the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to on the terms and conditions set forth therein, to lend described in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached Commitment Letters as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated promptly as of practicable after the date hereof, from GS Capital Partners V Fund, L.P. including (the “Equity Financing Commitment” and together with but subject in all respects to Section 11.13) their reasonable best efforts to (i) maintain in effect the Debt Financing CommitmentCommitment Letters, the “Financing Commitments”), pursuant to which the parties (ii) negotiate and enter into definitive agreements with respect thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement the Debt Commitment Letters (including the flex provisions) or on other terms no less favorable to Parent and MergerSub as to conditionality, (iii) satisfy on a timely basis all conditions applicable to Parent and MergerSub in the Debt Commitment Letters that are within their control (including by consummating the Equity Financing pursuant to the terms of the Equity Commitment Letter), (iv) consummate the Financing Commitmentsat or prior to the Closing and (v) enforce their rights under the Equity Commitment Letter to the extent set forth in Section 11.13 (but not the Debt Commitment Letters as more fully described in Section 11.13); it being understood that Parent and MergerSub may seek to obtain financing in a private placement of securities pursuant to Rule 144A promulgated under the Securities Act in lieu of a portion of the Debt Financing (and references to the Debt Financing in this Section 8.03 shall be deemed to include such private placement); provided, however, that (1) Parent and MergerSub shall not release or waive the Debt Commitment Letters or the obligations of the arrangers and lenders thereunder and (2) Parent and MergerSub shall proceed with, and consummate, the financing contemplated in the Debt Financing Letters in the event that such alternative private placement financing is not available. Parent shall keep the Company reasonably informed with respect to all material activity concerning the status of the Debt Financing contemplated by the Debt Commitment Letters and shall give the Company notice of any material adverse change with respect to such Financing as promptly as practicable. Without limiting the generality of the foregoing, Parent and Merger Sub MergerSub shall give the Company prompt notice (x) of any material breach or material default by any party to any of the Debt Commitment Letters, or any definitive agreements related to the Debt Financing, in each case of which Parent or MergerSub becomes aware, (y) of the receipt of any written notice or other written communication, in each case received from any Debt Financing source with respect to any (3) material breach of Parent’s or MergerSub’s obligations under the Debt Commitment Letters or definitive agreements related to the Debt Financing, or default, termination or repudiation by any party to any of the Debt Commitment Letters or definitive agreements related to the Debt Financing or (4) material dispute between or among any parties to any of the Debt Commitment Letters or definitive agreements related to the Debt Financing or any provisions of any of the Debt Commitment Letters, in each case, with respect to the obligation to fund the Debt Financing or the amount of the Debt Financing to be funded at Closing and (z) of the receipt of any notice or other communication (written or verbal) on the basis of which Parent expects that a party to the Debt Financing will fail to fund the Debt Financing or is reducing the amount of the Debt Financing; provided that in no event shall Parent or MergerSub be under any obligation to disclose any information pursuant to clauses (1) or (2) that would waive the protection of attorney-client or similar privilege if such party shall have at used reasonable best efforts to disclose such information in a way that would not waive such privilege. As soon as reasonably practicable, but in any event within five Business Days of the Closingdate the Company delivers to Parent or MergerSub a written request, together with Parent and MergerSub shall provide any information reasonably requested by the available cash Company relating to any circumstance referred to in clauses (x), (y) or (z) of the immediately preceding sentence. In the event that any portion of the Debt Financing becomes unavailable on the terms and conditions contemplated by the Debt Commitment Letters (including the flex provisions), (A) Parent shall promptly notify the Company and its Subsidiaries (B) Parent and MergerSub shall use their reasonable best efforts to arrange and obtain any such portion from alternative sources, on terms, taken as whole, that are no more adverse to Parent and the Closing DateCompany (including after giving effect to the market flex provisions), funds sufficient to pay as promptly as practicable following the cash portion occurrence of such event but in no event later than the last day of the aggregate Per Share Merger Consideration (and any repayment Marketing Period. In furtherance of the provisions of this Section 8.03, one or refinancing more Debt Commitment Letters may be amended, restated, supplemented or otherwise modified or superseded at the option of debt contemplated by Parent after the date of this Agreement or the Financing Commitments) and any other amounts required but prior to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.the
Appears in 2 contracts
Sources: Merger Agreement (Rennes Fondation), Merger Agreement (Ebix Inc)
Financing. Attached as Annex 5.2(e)(i(a) Purchaser has delivered to the Parent Disclosure Letter is a Seller true and complete copy copies of (i) a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity duly executed commitment letter, dated as of the date hereof, from GS between Purchaser and GSO Capital Partners V FundLP and (ii) a duly executed commitment letter, L.P. dated as of the date hereof, between Purchaser and Bank of America, N.A., and Fifth Third Bank (the “Equity Financing Commitment” and together with the Debt Financing Commitmentcollectively, the “Financing CommitmentsDebt Commitment Letters”) (subject to redaction so long as such redaction does not cover terms that would adversely affect the conditionality or availability of the Debt Financing), pursuant to which the parties counterparties thereto have committed, subject to the terms and conditions set forth thereinthereof (including, to invest the amount extent required in accordance therewith, the exercise of so-called “flex” provisions in the Fee Letter), to lend the amounts set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). Assuming the funding in full of the Debt Financing on the Closing Date, Purchaser on the Closing Date will have, together with cash on hand and available borrowing under existing credit facilities, sufficient funds in immediately available cash, to (A) pay an amount in cash equal to the amounts set forth in Section 3.02(a); (B) pay any and all fees and expenses required to be paid by Purchaser in connection with the transactions contemplated by this Agreement and the Debt Financing; and (C) satisfy all other payment obligations of Purchaser contemplated hereunder (including the payment at Closing of unpaid Transaction Expenses). Purchaser has also delivered to Seller a true and complete copy of any fee letter in connection with the Debt Commitment Letters (any such fee letter, a “Fee Letter”) (subject to redaction so long as such redaction does not cover terms (other than the actual amount of fees that are the subject of the Fee Letter) that would adversely affect the conditionality or availability of the Debt Financing).
(b) As of the date hereof, there are no side letters or other Contracts or arrangements related to the Debt Financing other than the Debt Commitment Letters and the Fee Letters or as otherwise expressly set forth therein. None of the Financing Commitments Debt Commitment Letters nor the Fee Letters has been amended or modified prior to the date of this Agreementmodified, no such amendment or modification is contemplatedcontemplated as of the date hereof, and the respective commitments contained set forth in the Financing Commitments Debt Commitment Letter have not been withdrawn or rescinded in any respect. Parent has fully paid ; provided, that the exercise of any and all commitment fees “flex” provisions in the Fee Letter shall not be considered an amendment, modification, withdrawal or other fees in connection with rescission of the Financing Commitments that are payable on or prior to Fee Letter for the date hereof, and the Financing Commitments purposes of this Agreement.
(c) The Debt Commitment Letters are in full force and effect and are is the valid, binding and enforceable obligations of ParentPurchaser and, Merger Sub and to the knowledge of ParentPurchaser, the other parties thereto, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and to general equitable principles. There are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing, other than as set forth in or contemplated by the Financing CommitmentsDebt Commitment Letters and any related Fee Letter. No To the knowledge of Purchaser, no event has occurred occurred, or circumstance exists, which, with or without notice, lapse of time or both, would or would reasonably be expected to constitute a default or breach on the part of Parent or Merger Sub under Purchaser and, to the knowledge of Purchaser, any of other party to the Financing Commitments, and as Debt Commitment Letters. As of the date hereof Parent hereof, and assuming the accuracy of the representations and warranties of Seller contained in this Agreement and performance by Seller of its obligations under this Agreement, Purchaser has no reason to believe that any of the conditions to the Debt Financing contemplated by in the Financing Commitments Debt Commitment Letters and any related Fee Letter will not be satisfied or satisfied, that the Debt Financing will not be made available at or prior to Parent the time contemplated hereunder for the Closing. Purchaser has fully paid, or caused to be fully paid, any and all commitment or other fees which are due and payable on or prior to the Closing Date. Subject date hereof pursuant to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (Debt Commitment Letters and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesFee Letter.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Gaiam, Inc), Membership Interest Purchase Agreement (Sequential Brands Group, Inc.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true and complete fully executed copy of a debt the commitment letter, other than dated as of May 23, 2010 among Parent, Merger Sub, Bank of America, N.A., Banc of America Bridge LLC, Banc of America Securities LLC, Barclays Bank PLC, Barclays Capital, the investment banking division of Barclays Bank PLC, General Electric Capital Corporation, GE Capital Markets, Inc., SunTrust Bank and Sun Trust ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Inc., including all exhibits, schedules, annexes and amendments to such letter in effect as of the date hereof and excerpts of those portions of the fee letter relating thereto and engagement letter associated therewith that contain any conditions to funding or “flex” provisions or other substantive provisions (collectivelyexcluding only those provisions related solely to fees and economic terms agreed to by the parties) regarding the terms and conditions of the financing to be provided thereby (together, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreedwhich, subject to the terms and conditions set forth thereinthereof, the Financing Sources have severally agreed to lend the respective amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitmentprovision of such funds as set forth therein, the “Financing”). None of ) for the Financing Commitments has been amended or modified prior to the date of this Agreement, no purposes set forth in such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respectCommitment Letter. Parent has fully paid any and all commitment fees or other fees in connection with required by such Commitment Letter to be paid by the Financing Commitments that are payable on date hereof. The Commitment Letter (i) has not been amended, restated or otherwise modified or waived prior to the date hereof, (ii) is valid and the Financing Commitments are in full force and effect effect, subject to applicable bankruptcy, insolvency or other similar Laws, now or hereafter in effect, affecting creditors’ rights generally and are provided that the validremedy of specific performance and injunctive and other forms of equitable relief may be limited by equitable defenses and the discretion of the court before which any proceeding therefor may be brought, binding (iii) does not contain any material misstatement by Parent or Merger Sub, and enforceable obligations of Parent(iv) the respective commitments contained in the Commitment Letter have not been withdrawn, Merger Sub and modified or rescinded in any respect prior to the knowledge of Parent, the other parties theretodate hereof. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing CommitmentsCommitment Letter. No Subject to the terms and conditions of the Commitment Letter, assuming the accuracy of the Company’s representations and warranties in Section 3.2(a) and Section 3.2(b) and assuming compliance by the Company with its covenants contained in Section 5.1, the net proceeds contemplated from the Financing, together with other financial resources of Parent and Merger Sub including cash on hand and marketable securities of Parent and Merger Sub on the Closing Date, will, in the aggregate, be sufficient for the payment of the Required Amounts, including any amounts required to be paid by Merger Sub pursuant to Article I and Article II and also Parent’s and Merger Sub’s fees and expenses incurred in connection with the Transactions. As of the date hereof, to Parent’s knowledge, no event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as Commitment Letter. As of the date hereof hereof, neither Parent nor Merger Sub has no any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent and Merger Sub on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Merger Agreement (Gentiva Health Services Inc), Merger Agreement (Odyssey Healthcare Inc)
Financing. Attached as Annex 5.2(e)(i) 4.5.1 Parent has delivered to the Parent Disclosure Letter is Company a true and complete copy of a debt commitment letterthe executed Debt Commitment Letter and Equity Commitment Letters as in effect on the date hereof (with, in the case of the Debt Commitment Letter and any related Debt Fee Letter, only the fee amounts, interest rates, original issue discount, economic and other “market flex” terms or commercially sensitive information redacted, none of which redacted provisions would be reasonably expected to adversely affect the amount, conditionality, availability, timing or termination of the Debt Financing on the Closing Date). As of the date hereof, neither Parent nor any of its Affiliates has entered into any agreement, side letter or other arrangement relating to funding of the Debt Financing and Equity Financing, other than as set forth in the fee letter relating thereto Commitment Letters and, in the case of the Debt Financing, for the Debt Fee Letter (collectively, including any “market flex” provisions set forth therein).
4.5.2 As of the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreedClosing Date, subject to the terms and conditions set forth therein, to lend in the amounts Commitment Letters and in this Agreement and assuming the satisfaction of the conditions set forth therein for in Sections 6.1 and 6.3 and the purposes conditions set forth in the Commitment Letters, the aggregate proceeds of financing the transactions contemplated by this Agreement Financing (the “Debt Financing”). Attached as Annex 5.2(e)(ii) both before and after giving effect to the Parent Disclosure Letter is a true and complete copy exercise of any or all “market flex” provisions related thereto) will be sufficient to consummate the Transactions, including the payment of the equity commitment letter, dated Merger Consideration on the Closing Date and all related fees and expenses and prepayment of debt under the Credit Facilities. To Parent’s knowledge as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Commitment Letters have not been withdrawn or rescinded in any respect. As of the date hereof, the Commitment Letters in the form so delivered are in full force and effect against Parent and represent a valid, binding and enforceable obligation of Parent and, to Parent’s knowledge, each other party thereto, to provide the financing contemplated thereby subject only to the satisfaction or waiver of the conditions set forth in the Commitment Letters as of the date hereof and except as limited by Laws affecting the enforcement of creditors’ rights generally, by general equitable principles or by the discretion of any Governmental Entity before which any Proceeding seeking enforcement may be brought (regardless of whether enforcement is sought in a proceeding at law or in equity). Parent has fully paid (or caused to be fully paid) any and all commitment fees or and other fees in connection with the Financing Commitments amounts that are due and payable on or prior to the date of this Agreement in connection with the Financing. As of the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a breach or default on the part of Parent or Merger Sub or, to the knowledge of Parent, any other party thereto under any of the Financing Commitments, and as Commitment Letters. As of the date hereof hereof, assuming the representations and warranties made by the Company in Article 3 are true and correct in all material respects and the satisfaction of the conditions set forth in Section 6.1 and 6.3, Parent has no reason to believe that it or any other party thereto will be unable to satisfy on a timely basis any term of the Commitment Letters or that the full amount of the Financing will not be made on a timely basis. The only conditions precedent or other contingencies related to the funding of the Debt Financing on the Closing Date are the conditions set forth in the Commitment Letters as of the date hereof. As of the date hereof, assuming the representations and warranties made by the Company in Article 3 are true and correct in all material respects and the satisfaction of the 89887722_19 150326672.16 conditions set forth in Section 6.1 and 6.3, Parent has no reason to believe that (i) any of the such conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that (ii) the Financing will not be made available to Parent on the Closing Date. Subject to .
4.5.3 Parent understands and acknowledges that under the terms and conditions contained of this Agreement, Parent’s obligation to consummate the Merger is not in this Agreement and the Financing Commitmentsany way contingent upon or otherwise subject to Parent’s consummation of any financing arrangements, Parent and Merger Sub will have at the Closing, together with the available cash Parent’s obtaining of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement financing or the Financing Commitments) and availability, grant, provision or extension of any other amounts required financing to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesParent.
Appears in 2 contracts
Sources: Merger Agreement (SMTC Corp), Merger Agreement (SMTC Corp)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete correct copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)executed Commitment Letter. None of the Financing Commitments The Commitment Letter has not been amended or modified prior to the date of this AgreementAgreement and, no such amendment or modification is contemplatedas of the date hereof, and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent has fully paid any Except for fee letters (the “Fee Letters”) and all commitment fees engagement letters relating to the Commitment Letter, complete copies of which have been provided to the Company with only fee amounts and certain economic terms (none of which would adversely affect the amount (other than in respect of upfront fees) or other fees in connection with availability of the Financing Commitments that are payable on or prior to if so exercised by the Financing Sources party thereto) redacted, as of the date hereof, there are no other agreements, side letters or arrangements to which Parent is a party relating to the Commitment Letter that could affect the availability of the Financing. As of the date hereof, the Commitment Letter constitutes the legally valid and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations obligation of Parent, Merger Sub and and, to the knowledge of Parent, the other parties thereto, enforceable in accordance with its terms (except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Laws relating to or affecting the enforcement of creditors’ rights in general and by general principles of equity (regardless of whether enforcement is sought in equity or at Law)). As of the date hereof, the Commitment Letter is in full force and effect and has not been withdrawn, rescinded or terminated or otherwise amended or modified in any respect, and no such amendment or modification is contemplated. Parent is not in breach of any of the terms or conditions set forth in the Commitment Letter, and assuming the accuracy of the representations and warranties set forth in Article III and performance by the Company of its obligations under this Agreement, as of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to constitute a breach, default or failure to satisfy any condition precedent set forth therein. As of the date hereof, no Financing Source has notified Parent of its intention to terminate the Commitment Letter or not to provide the Financing. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingFinancing (including any “flex” provisions), other than as expressly set forth in or contemplated by the Financing CommitmentsCommitment Letter and the Fee Letters. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger and Sub under any of the Financing Commitments, and will have as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied Effective Time, sufficient cash available, directly or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitmentsthrough one or more Affiliates, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) Convertible Notes Consideration and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesexpenses on the terms contemplated in this Agreement. Parent and Sub’s obligations hereunder are not subject to a condition regarding Parent’s or Sub’s obtaining of funds to consummate the transactions contemplated by this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Sealy Corp), Merger Agreement (Tempur Pedic International Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is Company a true and complete fully executed copy of a debt the commitment letter, other than dated as of February 7, 2011 between Parent and ▇.▇. ▇▇▇▇▇▇ Securities LLC, JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc. and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Senior Funding, Inc., including all exhibits, schedules, annexes and amendments to such letter in effect as of the date of this Agreement, and the fee letter relating associated therewith (with only fee amounts and economic terms (none of which would adversely affect the amount or availability of financing) redacted) regarding the terms and conditions of the financing to be provided thereby (such commitment letter, including all exhibits, schedules, annexes and amendments thereto (and such fee letter, collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, and subject to the terms and conditions set forth therein, contained therein the lenders party thereto have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached provision of such funds as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”)) for the purposes set forth in such Commitment Letter. None of the Financing Commitments The Commitment Letter has not been amended amended, restated or otherwise modified or waived prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Commitment Letter have not been withdrawn withdrawn, modified or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date hereofof this Agreement. As of the date of this Agreement, and the Financing Commitments are Commitment Letter is in full force and effect and are the validconstitutes a legal, valid and binding and enforceable obligations obligation of Parenteach of Parent and, Merger Sub and to the knowledge of Parent, the parties thereto (subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other parties theretolaws affecting creditors’ rights generally and general principles of equity). There Other than as expressly set forth in the Commitment Letter, there are (a) no conditions precedent or other contingencies related to the funding of the full net proceeds of the Financing (including pursuant to any “flex” provisions in connection therewith) and (b) as of the date of this Agreement, there are no agreements, side letters, arrangements or understandings between Parent and any of the parties to the Commitment Letter that would, or would reasonably be expected to (i) affect the availability of the Financing, (ii) reduce the aggregate amount of the Financing, (iii) delay or prevent the Closing or (iv) modify the terms of the Financing in any manner materially adverse to Parent or the Company. The proceeds of the Financing, together with other than as financial resources of Parent including cash on hand and marketable securities of Parent, the Company and their respective Subsidiaries on the Closing Date, will, in the aggregate, be sufficient on the Closing Date for the satisfaction of all of Parent’s (and, in the event of a Subsidiary Merger Election, Merger Subsidiary’s) obligations under this Agreement, including the payment of all amounts required to be paid pursuant to Article 1, and the payment of any debt required to be repaid, redeemed, retired, cancelled, terminated or otherwise satisfied in connection with the Merger (including, without limitation, the Company Credit Facility) and of all fees and expenses reasonably expected to be incurred in connection with consummating the Merger and the Financing, subject to the proviso to the penultimate sentence of this Section 4.16. As of the date of this Agreement, Parent is not in breach of any of the terms or conditions set forth in or contemplated by the Financing Commitments. No Commitment Letter and, to the knowledge of Parent, no event has occurred which, with or without notice, notice or lapse of time or bothtime, would reasonably be expected to constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof failure to satisfy a condition precedent set forth therein. Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments Commitment Letter will not be satisfied satisfied; provided that Parent is not making any representation or that warranty regarding the Financing will not be made available to Parent on effect of any inaccuracy of the Closing Date. Subject to the terms representations and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash warranties of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by in this Agreement or the Financing Commitments) and failure of the Company to comply with any of its covenants in this Agreement. Parent has fully paid all commitment fees or other amounts fees required pursuant to the Commitment Letter to the extent required thereunder to be paid in connection with prior to the consummation date of the transactions contemplated hereby, and to pay all related fees and expensesthis Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Rehabcare Group Inc), Merger Agreement (Kindred Healthcare, Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt (i) an executed commitment letter, other than letter dated as of the fee letter relating thereto date hereof (collectivelyas the same may be amended pursuant to Section 5.15, the “Commitment Letter” and, together with the Fee Letter (as defined below), “Debt Financing CommitmentCommitments”), ) pursuant to which the lenders party lender parties thereto have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide or cause to be provided the debt amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (such amounts, the “Debt Financing”) and (ii) the fee letters referred to in such commitment letter (with only fee amounts, dates, pricing caps, other economic terms and market flex provisions redacted, none of which would adversely affect the amount or availability of the Debt Financing other than through original issue discount (as may be amended pursuant to Section 5.15, the “Fee Letter”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereofof this Agreement, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with none of the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and the respective commitments contained in the Debt Financing Commitments have not been withdrawn or rescinded and, to the Knowledge of Parent, no withdrawal or rescission thereof is contemplated as of the date of this Agreement. As of the date of this Agreement, the Debt Financing Commitments are in full force and effect and constitute the legal, valid and binding obligation of Parent, to the Knowledge of Parent, the other parties thereto (except to the extent that enforceability may be limited by the applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws affecting the enforcement of creditors’ rights generally or by general principles of equity). There are no conditions precedent related to the funding of the full amount of the Debt Financing other than as expressly set forth in the Debt Financing Commitments. As of the date of this Agreement, no event has occurred that (with or without notice or lapse of time, or both) would constitute a breach or default under the Debt Financing Commitments by Parent, Merger Sub or Merger Sub I or, to the Knowledge of Parent, any respectother party to the Debt Financing Commitments. As of the date of this Agreement, assuming the satisfaction of the conditions contained in Section 6.1 and Section 6.2, Parent has no reason to believe that it will be unable to satisfy on a timely basis any term or condition to be satisfied by it and contained in the Debt Financing Commitments. Parent has fully paid any and all commitment fees or other fees in connection with required by the terms of the Debt Financing Commitments that are payable to be paid on or prior before the date of this Agreement. Assuming the accuracy of the Company’s representations and warranties contained in Article III in all material respects and subject to the date hereofsatisfaction of the conditions contained in Section 6.1 and Section 6.2, and assuming that the Debt Financing Commitments are funded in full force accordance with the terms thereof, Parent will have at Closing funds sufficient for the payment of (a) the aggregate cash portion of the Merger Consideration, (b) any and effect all fees and are the valid, binding and enforceable obligations of expenses required to be paid by Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained I in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together connection with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt transactions contemplated by this Agreement or Agreement, including pursuant to the Financing Debt Commitments, (c) and any other cash amounts required to be paid by Parent, Merger Sub or Merger Sub I pursuant to Article II hereof and (d) subject to the consummation of the Repurchase on the Closing Date (or, if not so consummated, then provided that any such funds may be subject to delayed draw conditions), the funding of any required refinancings or repayments of any existing Indebtedness of the Company in connection with the consummation Mergers. In no event shall the receipt or availability of any funds or financing, including under the transactions contemplated herebyDebt Financing Commitments, and by Parent, Merger Sub or Merger Sub I, or any Affiliate thereof be a condition to pay all related fees and expensesany of Parent’s, Merger Sub’s or Merger Sub I’s obligations hereunder.
Appears in 2 contracts
Sources: Merger Agreement (Aecom Technology Corp), Agreement and Plan of Merger (Urs Corp /New/)
Financing. Attached as Annex 5.2(e)(i) Parent has, and at all times through the Purchase Date and the Closing will have, available sufficient cash, cash equivalents, fully committed and available lines of credit and definitive financing commitments to satisfy its obligations to permit Purchaser to purchase and pay for Shares pursuant to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth thereinOffer, to lend the amounts set forth therein for the purposes of financing pay all fees and expenses related to the transactions contemplated by this Agreement (to be paid by it, and to consummate the “Debt Financing”)Merger and the other transactions contemplated by this Agreement. Attached as Annex 5.2(e)(ii) Parent will provide, or cause to be provided, such funds to Purchaser or the Paying Agent at or prior to the Purchase Date and the Effective Time, respectively. Parent Disclosure Letter is a has delivered to the Company true and complete copy copies of the equity executed commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. letters (the “Equity Financing Commitment” and together with the Debt Financing Commitmentcollectively, the “Existing Debt Financing Commitments”), pursuant to which the parties such lenders party thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest provide or cause to be provided the amount amounts set forth therein (the “Equity Financing” and together with the Existing Debt Financing Commitment, the “Financing”). None The Existing Debt Financing Commitments are in full force and effect and are legal, valid and binding obligations of Parent and the other parties thereto, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar Laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and any implied covenant of good faith and fair dealing. There are no conditions precedent or other contingencies to the funding of the Existing Debt Financing Commitments has been amended or modified prior other than as set forth in the Existing Debt Financing Commitments. Prior to the date of this Agreement, no such amendment none of the Existing Debt Financing Commitments has been modified or modification is contemplatedamended, and the respective commitments contained in the Financing Commitments therein have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereofof this Agreement, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent, Purchaser or any other party to the Existing Debt Financing Commitments. As of the date hereof, neither Parent nor Purchaser (A) is aware of any fact or occurrence that makes any of the assumptions or the representations or warranties of Parent or Merger Sub under any of its Affiliates party to the Existing Debt Financing Commitments, in the Existing Debt Financing Commitments inaccurate in any material respect, (B) has any reason to believe that it will be unable to satisfy any term or condition of closing to be satisfied by it or its affiliates contained in the Financing Commitments, and as of the date hereof Parent (C) has no any reason to believe that any portion of the conditions Financing required to consummate the transactions contemplated hereby will not be available to Parent and Purchaser at the Purchase Time and the Effective Time, as applicable. Parent and Purchaser and any of their Affiliates party to the Financing contemplated Commitments have fully paid any and all commitment fees or other fees required by the Financing Commitments to be paid by them on or prior to the date of this Agreement and shall in the future pay any such fees as they become due. The Financing Commitments, if and when funded, together with Parent’s available cash, cash equivalents, and fully committed and available lines of credit, will provide Parent and Purchaser with financing at the Purchase Time and the Effective Time, as applicable, sufficient to, and may be used to, satisfy all of Parent’s and Purchaser’s obligations under this Agreement (including, without limitation, amounts needed to purchase the Shares pursuant to the Offer and pay the Merger Consideration, the payments described in Section 3.2(g) of this Agreement, the funding, refinancing or prepayment of the Company’s outstanding Notes, and any fees and expenses of or payable by Parent, the Purchaser or the Surviving Corporation). To the extent that availability under any fully committed line of credit comprises a portion of the Financing, such availability shall not be satisfied utilized or reduced and shall otherwise be maintained from the date hereof (or, if other than an Existing Debt Financing Commitment, from the date that the Financing will not be made available replaces an Existing Debt Financing Commitment) to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (LS Cable Ltd.), Merger Agreement (Superior Essex Inc)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a debt an executed commitment letter, other than letter and Redacted Fee Letter from the fee letter relating thereto financial institutions identified therein (collectively, the “Debt Financing Commitment”), pursuant which for purposes of Section 5.08(b) and (c) includes any offering of debt or equity securities contemplated by the Debt Financing Commitment) to which the lenders party thereto have agreedprovide, subject to the terms and conditions set forth therein, to lend debt financing in the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (being collectively referred to as the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment has not been amended or modified prior to the date of this Agreementmodified, no such amendment or modification is contemplatedcontemplated (other than amendments or modifications permitted by Section 5.08(a)), and none of the respective obligations and commitments contained in the Financing Commitments such letters have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent or Sub has fully paid any and all commitment fees or other fees in connection with the Debt Financing Commitments Commitment that are payable on or prior to the date hereofof this Agreement. Assuming (A) the Debt Financing is funded in accordance with the Debt Financing Commitment and (B) the satisfaction or (to the extent permitted by Law) waiver of the conditions in Section 6.02, as of the Closing the net proceeds contemplated by the Debt Financing Commitment, together with Parent and Company cash on hand, will in the aggregate be sufficient for Parent, Sub and the Surviving Corporation to pay the aggregate Cash Consideration, all requisite payments of cash in lieu of fractional shares pursuant to Section 2.02(i), all requisite payments of dividends or other distributions pursuant to Section 2.02(c) or 2.02(j), Restricted Stock Consideration, Option Amounts, RSU Amounts and Deferred Stock Unit Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Debt Financing Commitments are Commitment) and any other amounts required to be paid in connection with the consummation of the Transactions and to pay all related fees and expenses of Parent, Sub and the Surviving Corporation. The Debt Financing Commitment is (i) the legal, valid and binding obligation of Parent and Sub, as applicable, and, to the Knowledge of Parent and Sub, each of the other parties thereto, (ii) enforceable in accordance with their respective terms against Parent and Sub, as applicable, and, to the Knowledge of Parent and Sub, each of the other parties thereto, subject, as to enforceability, to bankruptcy, insolvency and other Laws of general applicability relating to or affecting creditors’ rights and to general equity principles and (iii) in full force and effect effect. As of the date of this Agreement, assuming the accuracy of the Company’s representations and are warranties and undertakings under this Agreement to the validextent required under Section 6.02(a), binding and enforceable obligations (A) no event has occurred that, with or without notice, lapse of time, or both, would or would reasonably be excepted to, constitute a default or breach on the part of Parent, Merger Sub and Sub, or to the knowledge Knowledge of Parent, any other person party to the other parties theretoDebt Financing Commitment, in each case, under the Debt Financing Commitment and (B) assuming satisfaction or (to the extent permitted by Law) waiver of the conditions to Parent’s and Sub’s obligation to consummate the Merger, neither Parent nor Sub have any reason to believe that any of the conditions to the Debt Financing will not be satisfied or that the Debt Financing will not be made available to Parent or Sub on the Closing Date in accordance with the terms of the Debt Financing Commitment. There are no conditions precedent or other contingencies related to the funding of the full amount of the Debt Financing, other than as expressly set forth in or contemplated by the Debt Financing CommitmentsCommitment and such other conditions and contingencies with respect to the Debt Financing permitted pursuant to Section 5.08(a). No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as As of the date hereof of this Agreement, there are no Contracts or other agreements, arrangements or understandings (whether oral or written) to which Parent has no reason to believe that or any of the conditions its Affiliates is a party related to the funding of the full amount of the Debt Financing contemplated by other than as expressly contained in the Debt Financing Commitments will not be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject Commitment and delivered to the terms Company prior to the execution and conditions contained in delivery of this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesAgreement.
Appears in 2 contracts
Sources: Merger Agreement (Covance Inc), Merger Agreement (Laboratory Corp of America Holdings)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter or certain of its controlled Affiliates is a true party to and complete copy has accepted a fully executed (x) commitment letter dated as of a debt commitment letterthe date hereof (as amended, other than restated, amended and restated, supplemented or replaced from time to time after the fee letter relating thereto (collectivelydate hereof in accordance with Section 7.4(b) hereof, together with all exhibits and schedules thereto, the “Debt Commitment Letter”) from the Debt Financing CommitmentSources party thereto pursuant to which the Debt Financing Sources have agreed, subject to the terms and conditions thereof, to provide debt financing in the amounts set forth therein and (y) fee letters, dated of as the date hereof (as amended, restated, amended and restated, supplemented or replaced from time to time after the date hereof in accordance with Section 7.4(b) hereof, the “Debt Fee Letters”), executed in connection with the Debt Commitment Letter. The debt financing committed pursuant to the Debt Commitment Letter and the Debt Fee Letters is collectively referred to in this Agreement as the “Debt Financing.”
(b) Parent is a party to and has accepted a fully executed equity commitment letter, dated as of the date of this Agreement, from ▇▇▇▇▇ ▇▇▇▇▇ Fund XV, L.P., a Delaware limited partnership (the “Equity Investor”) and Parent (the “Equity Commitment Letter” and, together with the Debt Commitment Letter, the “Commitment Letters”), pursuant to which which, on the lenders terms and subject to the conditions set forth therein, the Equity Investor has agreed to invest in Parent the amount set forth therein. The equity financing committed pursuant to the Equity Commitment Letter is referred to in this Agreement as the “Equity Financing.” The Equity Financing and the Debt Financing are collectively referred to as the “Financing.” The Equity Commitment Letter provides that the Company is an express third-party thereto have agreedbeneficiary of the Equity Commitment Letter, and, subject to the terms and conditions set forth therein, entitled to lend enforce the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement Equity Commitment Letter.
(the “Debt Financing”). Attached as Annex 5.2(e)(iic) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V FundParent has delivered to the Company a true, L.P. (complete and correct copy of the executed Debt Commitment Letter, Debt Fee Letters and Equity Commitment Letter, and in the case of the Debt Fee Letters, subject to redaction solely of the fee amounts, pricing caps, original issue discount, “Equity Financing Commitmentmarket flex” and together other economic provisions that are customarily redacted in connection with transactions of this type, none of which redacted provisions would be reasonably expected to adversely affect the conditionality, enforceability, termination, aggregate principal amount or availability of the Debt Financing.
(d) Except as expressly set forth in the Commitment Letters, there are no conditions precedent to the obligations of the Debt Financing CommitmentSources and the Equity Investor, as applicable, to provide the “Financing Commitments”)or any contingencies that would permit the Debt Financing Sources or the Equity Investor, as applicable, to reduce the aggregate principal amount of the Financing, including any condition or other contingency relating to the amount or availability of the Financing pursuant to which any “flex” provision. As of the parties thereto date hereof, Parent does not have committed, subject any reason to the believe that it will be unable to satisfy on a timely basis all terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None be satisfied by it in any of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable Commitment Letters on or prior to the Closing Date, nor does Parent have knowledge as of the date hereof that any Debt Financing Sources or Equity Investor will not perform its obligations thereunder. There are no side letters, understandings or other agreements, contracts or arrangements of any kind relating to the Commitment Letters that could affect the conditionality, enforceability, availability, termination or aggregate principal amount of the Financing.
(e) The Financing, if funded in accordance with the Commitment Letters and giving effect to any “flex” provision in or related to the Debt Commitment Letter (including with respect to fees and original issue discount), shall provide Parent with cash proceeds on the Closing Date sufficient for the satisfaction on the Closing Date of all of Parent’s obligations under this Agreement and the Commitment Letters to be funded on the Closing Date, including the payment of the Merger Consideration payable on the Closing Date, and any fees and expenses of or payable by Parent or Merger Sub or Parent’s other Affiliates, and for any repayment or refinancing of any outstanding indebtedness of the Company and/or its Subsidiaries contemplated by, or required in connection with the transactions described in, this Agreement or the Commitment Letters (such amounts, collectively, the “Financing Amounts”). From and after the Closing Date, Parent, together with the Surviving Corporation, will have sufficient cash on hand or other sources of immediately available funds to enable it to settle conversions or effect redemptions of the Convertible Notes pursuant to the terms of the Convertible Notes Indenture.
(f) As of the date hereof, and the Financing Commitments are in full force and effect and are Commitment Letters constitute the legal, valid, binding and enforceable obligations of ParentParent and, Merger Sub and to the knowledge Knowledge of Parent, all the other parties theretothereto and are in full force and effect. There are no conditions precedent or other contingencies related As of the date hereof, to the funding Knowledge of the full amount of the Financing, other than as set forth in or contemplated by the Financing Commitments. No Parent no event has occurred which, which (with or without notice, lapse of time or both, ) would constitute a default on breach or failure to satisfy a condition by Parent under the part of Parent or Merger Sub under any terms and conditions of the Financing CommitmentsCommitment Letters. Parent has paid in full any and all commitment fees or other fees required to be paid pursuant to the terms of the Commitment Letters on or before the date of this Agreement, and will pay in full any such amounts due to be paid by it on or before the Closing Date. As of the date hereof, the Commitment Letters have not been modified, amended or altered and none of the respective commitments thereunder have been terminated, reduced, withdrawn or rescinded in any respect and, to the Knowledge of Parent, no termination, reduction, withdrawal or rescission thereof is contemplated (except as contemplated or as permitted as of the date hereof in the Debt Commitment Letter). Notwithstanding the foregoing, any amendment, supplement or modification to effectuate any “market flex” terms contained in the Debt Fee Letters provided as of the date hereof or to add or replace any additional agents, lenders, lead arrangers, bookrunners, syndication agents or other financial institutions thereto as provided for in the Debt Commitment Letter shall be permitted and shall not require written consent of the Company.
(g) In no event shall the receipt or availability of any funds or financing (including the Financing) by Parent has no reason to believe that or any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied its Affiliates or that the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required financing or other transactions be a condition to be paid in connection with the consummation any of the transactions contemplated hereby, and to pay all related fees and expensesParent’s obligations under this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Sailpoint Technologies Holdings, Inc.), Merger Agreement (Sailpoint Technologies Holdings, Inc.)
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is a true party to and complete copy of has accepted a debt fully executed commitment letterletter dated April 12, other than 2023 (together with all exhibits and schedules thereto, the fee letter relating “Commitment Letter”) from the lenders party thereto (collectively, the “Debt Financing CommitmentLenders”), ) pursuant to which the lenders party thereto Lenders have agreed, subject to the terms and conditions set forth thereinthereof, to lend provide debt financing in the amounts set forth therein for therein. The debt financing committed pursuant to the purposes of financing the transactions contemplated by Commitment Letter is collectively referred to in this Agreement (as the “Debt Financing.”). Attached as Annex 5.2(e)(ii
(b) Parent has delivered to the Parent Disclosure Letter is Company a true true, complete and complete correct copy of the equity commitment letterexecuted Commitment Letter and any fee letters entered into pursuant to the Commitment Letter, dated as subject, in the case of such fee letters, to redaction solely of fee and other economic provisions that are customarily redacted in connection with transactions of this type and that could not in any event affect the conditionality, enforceability, availability, termination or amount of the date hereofFinancing.
(c) Except as expressly set forth in the Commitment Letter, from GS Capital Partners V Fundthere are no conditions precedent to the obligations of the Lenders to provide the Financing or any contingencies that would permit the Lenders to reduce the aggregate principal amount of the Financing, L.P. (including any condition or other contingency relating to the “Equity amount or availability of the Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto any “flex” provision. Parent does not have committed, subject any reason to the believe that it will be unable to satisfy on a timely basis all terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained be satisfied by it in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable Commitment Letter on or prior to the date hereofClosing Date, nor does Parent have Knowledge that any Lender will not perform its obligations thereunder. There are no side letters, understandings or other agreements, contracts or arrangements of any kind relating to the Commitment Letter or the Financing that could affect the conditionality, enforceability, availability, termination or amount of the Financing.
(d) The Financing, when funded in accordance with the Commitment Letter and giving effect to any “flex” provision in or related to the Commitment Letter (including with respect to fees and original issue discount), will provide Parent with cash proceeds on the Closing Date sufficient for the satisfaction of all of Parent’s obligations under this Agreement and the Commitment Letter, including the payment of the Merger Consideration, and any fees and expenses of or payable by Parent or Parent’s Affiliates, any required reimbursement of fees and expenses paid by the Company and/or its Subsidiaries, and for any repayment or refinancing of any outstanding indebtedness (including the Company Credit Agreement) of the Company and/or its Subsidiaries contemplated by, or required in connection with the transactions described in, this Agreement or the Commitment Letter (such amounts, collectively, the “Financing Commitments are in full force and effect and are Amounts”).
(e) The Commitment Letter constitutes the legal, valid, binding and enforceable obligations of Parent, Merger Sub Parent and to the knowledge of Parent, all the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the thereto and is in full amount of the Financing, other than as set forth in or contemplated by the Financing Commitmentsforce and effect. No event has occurred which, which (with or without notice, lapse of time or both) constitutes, would constitute or could constitute, a default on default, breach or failure to satisfy a condition by Parent under the part of Parent or Merger Sub under any terms and conditions of the Financing Commitments, and as of the date hereof Commitment Letter. Parent has no does not have any reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied by Parent on a timely basis or that the Financing will not be made available to Parent on the Closing Date, except pursuant to a Permitted Termination (as defined below). Subject to the terms Parent has paid in full any and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid pursuant to the terms of the Commitment Letter on or before the date of this Agreement, and will pay in connection full any such amounts due on or before the Closing Date as and when due. In each case except as permitted by Section 5.16(b) (with any such modification, amendment or alteration promptly notified in writing to Company), the Commitment Letter has not been modified, amended or altered, the Commitment Letter will not be amended, modified or altered at any time through the Closing, and the aggregate commitments under the Commitment Letter have not been terminated, reduced, withdrawn or rescinded in any respect, and, to the Knowledge of Parent, no termination, reduction, withdrawal, modification, amendment, alteration or rescission thereof is contemplated (other than to the extent reduced pursuant to the mandatory reduction terms of the Commitment Letter, including with the proceeds from the consummation of the transactions contemplated hereby, and by the Climate Transaction Agreement).
(f) In no event shall the receipt or availability of any funds or financing (including the Financing) by or to pay all related fees and expensesParent or any of its Affiliates or any other financing or other transactions be a condition to any of Parent’s obligations under this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (National Instruments Corp), Merger Agreement (Emerson Electric Co)
Financing. Attached as Annex 5.2(e)(i(a) Purchaser has delivered to Seller complete and correct copies of the Parent Disclosure Letter is a true and complete copy of a executed debt commitment letter, other than dated as of the date hereof, between Purchaser and the financial institutions identified therein and the executed fee letters, fee credit letters and engagement letters associated therewith (provided, that the amounts and percentages in the fee letter relating related to fees, certain other economic terms and the “flex” provisions included therein, but only to the extent that none of such provisions would adversely affect conditionality, may be redacted) (such commitment letter, together with all exhibits, schedules, annexes, supplements and amendments thereto (and any related redacted fee letters, collectively, the “Debt Financing Commitment”), pursuant to which which, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, the Financing Sources have agreed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”)) for the purpose of funding the transactions contemplated by this Agreement. Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as As of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with x) the Debt Financing CommitmentCommitment has not been amended, restated or otherwise modified or waived since copies thereof were delivered to Seller, (y) except as permitted by Section 6.12, no such amendment, restatement, modification or waiver is contemplated and (z) the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with commitment contained in the Debt Financing Commitment, the “Financing”). None of the Financing Commitments Commitment has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn withdrawn, terminated or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereof, there are, and are contemplated to be, no other agreements, side letters or arrangements (oral or written) relating to the Debt Financing Commitments are Commitment (other than customary engagement letters or as expressly set forth in the Debt Financing Commitment furnished to Seller pursuant to this Section 5.07(a), but in each case of the foregoing, which do not adversely affect the conditionality, enforceability, termination, principal amount or availability of the Debt Financing). As of the date hereof, the Debt Financing Commitment is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations of Parenteach of Purchaser and, Merger Sub and to the knowledge Knowledge of ParentPurchaser, the other parties thereto, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at Law. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingDebt Financing (including any “flex” provisions), other than as expressly set forth in or the Debt Financing Commitment. Assuming (A) the Debt Financing is funded in accordance with the Debt Financing Commitment, (B) the accuracy of the representations and warranties set forth in Articles III and IV, and (C) performance by Seller and its Subsidiaries of their obligations that are required to be performed prior to the Closing, the aggregate proceeds to be disbursed pursuant to the agreements contemplated by the Debt Financing CommitmentsCommitment, together with Purchaser’s unrestricted cash on hand and other access to capital, in the aggregate will be sufficient for Purchaser to pay the Estimated Purchase Price on the Closing Date, any payment required to be made by Purchaser pursuant to Section 2.04 (if any) and all related fees and expenses and any other payment contemplated in this Agreement or the Debt Financing Commitment. No Assuming the accuracy of the representations and warranties set forth in Articles III and IV and performance by Seller and its Subsidiaries of their obligations under this Agreement, as of the date hereof, (I) no event has occurred which, that would result in any breach or violation of or constitute a default (or an event which with notice or without notice, lapse of time or both, both would constitute become a default on default) by Purchaser under the part of Parent or Merger Sub under Debt Financing Commitment and (II) Purchaser does not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent Purchaser on the Closing Date. Subject Purchaser has fully paid or has caused to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment be fully paid all commitment fees or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts fees required to be paid in connection with on or prior to the date hereof pursuant to the Debt Financing Commitment.
(b) The obligations of Purchaser under this Agreement are not subject to any conditions regarding the ability of Purchaser, any of its Affiliates or any other Person to obtain financing for the consummation of the transactions contemplated hereby, and to pay all related fees and expenses.
Appears in 1 contract
Financing. Attached as Annex 5.2(e)(i(a) to the Parent Disclosure Letter is a true The Purchaser has furnished Seller with true, correct and complete copy copies of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”), pursuant to which the lenders party thereto have agreed, subject to the terms Series A Note and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Common Share Purchase Agreement (the “Debt FinancingPurchase Agreement”). Attached ) dated as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity date hereof, among the Purchaser, Purchaser Parent and Stonepeak Magnet Holdings LP, a Delaware limited partnership (“Stonepeak), which has attached thereto the agreed form of warrant certificate, board representation agreement and the registration rights agreement, and a commitment letter, dated as of the date hereof, from GS Capital Partners V FundStonepeak Infrastructure Fund IV LP to Stonepeak to support the latter’s payment obligations under the Purchase Agreement (collectively, L.P. (the “Equity Financing Commitment” as amended, restated, amended and together with the Debt Financing Commitmentrestated, supplemented or modified from time to time, the “Financing CommitmentsCommitment Documents”), pursuant to which ) on the parties thereto have committed, terms and subject to the terms and conditions set forth thereinof which, to invest the Purchaser will receive financing in the aggregate amount set forth therein for the purpose of funding the transactions contemplated by this Agreement (the “Equity Financing” and together with the Debt Financing Commitment, being collectively referred to as the “Financing”). None of the Financing Commitments The Commitment Documents have not been amended, supplemented or modified, and no provision thereof has been amended or modified waived, prior to the date of this Agreementhereof, no such amendment amendment, restatement, supplement, modification or modification waiver is contemplatedcontemplated or pending, and the respective commitments contained in the Financing Commitments Commitment Documents have not been withdrawn withdrawn, terminated or rescinded in any respect, and no such withdrawal, termination or rescission is contemplated as of the date hereof (other than modifications to assign or reassign, replace or reallocate commitments to affiliates under the Commitment Documents). Parent has fully paid any and all commitment fees There are no side letters or other fees in connection with Contractual Obligations or arrangements related to the Financing Commitments that other than as expressly set forth in the Commitment Documents. The Commitment Documents are payable on not subject to any conditions or prior other similar contingencies other than as expressly set forth therein and not redacted in the version provided to the date hereofSeller, and the Financing Commitments are in full force and effect and are the legal, valid, binding and enforceable obligations of ParentPurchaser and, Merger Sub and to the knowledge of Parentthe Purchaser, each of the other parties thereto, as the case may be, except as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance and other equitable remedies. There are no conditions precedent Purchaser is unaware of any fact or other contingencies related occurrence existing on the date hereof that would reasonably be expected to the funding make any of the full amount assumptions or any of the Financing, other than as statements set forth in the Commitment Documents inaccurate or contemplated by that would reasonably be expected to cause the Financing CommitmentsCommitment Documents to be ineffective. No event has occurred whichAssuming the conditions set forth in Section 2.01 and 2.02 are satisfied at Closing, with or without notice, lapse of time or both, would constitute a default on the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent Purchaser has no reason to believe that any of the conditions to the Financing contemplated by the Financing Commitments will not be satisfied or that the full amount of the Financing will not be made available to Parent on the Closing Date. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries Purchaser on the Closing Date, funds sufficient to pay the cash portion and Purchaser is not aware of the existence of any fact or event as of the date hereof that would be expected to cause such conditions to the Financing not to be satisfied or the full amount of the Financing not be available and the Closing Transactions not to occur.
(b) The aggregate Per cash on hand and the Closing Share Merger Consideration (and any repayment or refinancing of debt Consideration, together with the aggregate proceeds contemplated to be provided under the Commitment Documents, will provide the Purchaser with sufficient immediately available funds to enable it to consummate the transactions contemplated by this Agreement or and to satisfy all of the Financing Commitments) and any other amounts payment obligations of Purchaser under this Agreement as are required to be paid by Purchaser at Closing and following the Closing pursuant to ARTICLE I, and all other related fees and expenses required to be paid by Purchaser in connection with this Agreement at the consummation of the transactions contemplated hereby, and to pay all related fees and expensesClosing.
Appears in 1 contract
Financing. Attached as Annex 5.2(e)(i(a) The Company shall, to the Parent Disclosure Letter is a true and complete copy of a debt commitment letter, other than extent the fee letter relating thereto (collectively, funds available under the “Committed Debt Financing Commitment”)are necessary to effect the Parent Refinancing, pursuant use its commercially reasonable efforts to which take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to cause inVentiv Group Holdings to consummate and obtain the lenders party thereto have agreed, subject to Committed Debt Financing on the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with described in the Debt Financing CommitmentCommitment Letter, including causing inVentiv Group Holdings to (i) maintain in effect the “Financing Commitments”)Debt Commitment Letter, pursuant to which the parties (ii) negotiate, execute and deliver definitive agreements with respect thereto have committed, subject to the on terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to the date hereof, and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as set forth in or contemplated by the Debt Commitment Letter (as such terms may be modified by the “market flex” provisions in the Fee Letter or on other terms to which Parent and the Company may both consent (such consent not to be unreasonably withheld)), (iii) satisfy on a timely basis all conditions applicable to inVentiv Group Holdings in the Debt Commitment Letter and, if applicable, the definitive agreements for the Committed Debt Financing Commitments. No event has occurred whichreasonably within inVentiv Group Holdings’s control, with or without notice, lapse of time or both, would constitute a default on (iv) consummate the part of Parent or Merger Sub under any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Committed Debt Financing contemplated by the Debt Commitment Letter at or, if Parent and the Company both consent (such consent not to be unreasonably withheld), prior to the Closing, and (v) apply the proceeds of the Committed Debt Financing Commitments will not be satisfied directly or that the Financing will not be made available provide such proceeds to Parent on to effect the Closing DateParent Refinancing. Subject to the terms and upon satisfaction of the conditions contained set forth in this Agreement and the Debt Commitment Letter, the Company shall use its reasonable best efforts to cause inVentiv Group Holdings to cause the Financing Commitments, Parent and Merger Sub will have at Sources to provide the Closing, together with the available cash of the Company and its Subsidiaries Committed Debt Financing on the Closing Date. If Parent and the Company both consent (such consent not to be unreasonably withheld), funds sufficient inVentiv Group Holdings may from time to pay the cash time substitute other financing for all or any portion of the aggregate Per Share Merger Consideration Committed Debt Financing from the same and/or alternative financing sources. inVentiv Group Holdings shall not amend, replace, supplement or otherwise modify, or waive any of its rights under the Debt Commitment Letter without the prior written consent of Parent (such consent not to be unreasonably withheld). Any consent, approval, agreement or determination required or contemplated to be made by inVentiv Group Holdings under the Debt Commitment Letter (including the appointment of Additional Agents pursuant to Section 2 thereof, the original issue discount and margins and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required fees to be paid in connection with the Committed Debt Financing that are not expressly set out in the Fee Letter (without giving effect to any “market flex” provisions)) shall be made in consultation with, and subject to the consent, approval or agreement of, Parent (in each case, not to be unreasonably withheld). The Company shall promptly furnish Parent with copies of any marketing materials, rating agency presentations, information memoranda or any other documents or communications prepared or received by the Company or any of its Affiliates in connection with the Committed Debt Financing, including any material drafts or final versions of definitive documentation with respect thereto (other than any internal documents prepared by the Company or any of its Subsidiaries and not distributed to lenders or their counsel or any other third party). In addition, the Company shall provide Parent and its outside counsel a reasonable opportunity to review and comment on, and rights of approval (which approval shall not be unreasonably withheld or delayed) with respect to, any material drafts of any documents related to the Committed Debt Financing prior to the dissemination of such documents to any third parties.
(b) The Company shall give Parent prompt notice (i) if to its or any of its Subsidiaries’ knowledge there exists any material breach by any party to the Debt Commitment Letter or any condition which would reasonably be expected not to be satisfied, in each case, of which it or any of its Subsidiaries becomes aware, (ii) of any termination of the Debt Commitment Letter or the receipt of any written notice or other written communication from any Financing Source asserting any default, termination or repudiation by any party to any of the Debt Commitment Letter or definitive agreements related to the Committed Debt Financing, and (iii) if at any time for any reason the Company believes in good faith that inVentiv Group Holdings will not be able to obtain all or any portion of the Committed Debt Financing on the terms and conditions, in the manner or from the sources contemplated by any of the Debt Commitment Letter or definitive agreements related to the Committed Debt Financing.
(c) If the Debt Commitment Letter is amended, replaced, supplemented or otherwise modified, or if the Parties both consent to substitute other committed financing for all or a portion of the Committed Debt Financing, the Company shall comply with its covenants in Sections 5.17(a) and 5.17(b) with respect to the Debt Commitment Letter as so amended, replaced, supplemented or otherwise modified and with respect to such other financing to the same extent that the Company would have been obligated to comply with respect to the Committed Debt Financing, and the references in this Agreement to “Debt Commitment Letter” and “Committed Debt Financing” shall be deemed to refer to the Debt Commitment Letter (and the financing contemplated thereby) as so amended, replaced, supplemented or otherwise modified.
(d) To the extent the funds available under the Committed Debt Financing are necessary to effect the Parent Refinancing, the Parent shall, and shall cause its Subsidiaries to, use their respective commercially reasonable efforts to provide, and to use its and their commercially reasonable efforts to cause its and their respective officers, directors, employees, accountants, agents and other advisors and representatives to use their respective commercially reasonable efforts to provide, all customary cooperation in connection with the arrangement, syndication and consummation of the transactions Committed Debt Financing as may be reasonably requested by the Company, including: (i) furnishing inVentiv Group Holdings and the Financing Sources with the information required to be delivered pursuant to paragraphs 6(b), (d)(ii)-(iii) and (e)(ii)-(iii) of Exhibit C to the Debt Commitment Letter (subject in the case of paragraph 6(e) to compliance by the Company with its obligations under Section 5.4 hereof) and such other financial and other pertinent information regarding Parent and its Subsidiaries that is required by the Debt Commitment Letter or otherwise customarily required for financings of a type similar to the Committed Debt Financing, (ii) participating in (and causing members of management with appropriate seniority and expertise to attend) a reasonable number of meetings (including one-on-one meetings or conference calls), lender presentations, due diligence sessions and sessions with prospective lenders and investors and other syndication activities, in each case that are customary for financings of a type similar to the Committed Debt Financing, (iii) assisting inVentiv Group Holdings and its Financing Sources in the preparation of any customary syndication documents and materials, including information memoranda, lender presentations and other marketing documents customarily used to arrange financing similar to the Committed Debt Financing and providing customary authorization letters with respect thereto, (iv) assisting in the negotiation and preparation of any credit agreements (or amendments thereto), pledge and security documents, guarantees, and any other certificates, letters and documents (including any schedules and exhibits in connection with the foregoing) as may be reasonably requested by inVentiv Group Holdings and executing such documents, (v) assisting in the obtaining of (A) audit reports, authorization letters and consents of accountants with respect to financial statements for Parent for inclusion in any marketing documentation, and (B) payoff letters and Lien terminations in connection with the Parent Refinancing; (vi) providing, at least 3 business days prior to the Closing Date, information regarding Parent and its Subsidiaries required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act of 2001, that is requested by the Financing Sources under the Debt Commitment Letter at least nine (9) business days prior to the Closing Date; (vii) assisting inVentiv Group Holdings in obtaining corporate and facility ratings (or updates thereto) from rating agencies (including assistance in preparing and/or delivering “rating agency presentations”), (viii) cooperating with inVentiv Group Holdings in providing such consents, approvals or authorizations (including corporate approvals and/or authorizations) which may be reasonably necessary in connection with the Committed Debt Financing, (ix) providing supporting information and data with respect to Parent and its Subsidiaries in connection with the delivery by inVentiv Group Holdings of any solvency certificate required to be delivered under the Debt Commitment Letter, (x) using commercially reasonable efforts to ensure that the syndication efforts in respect of the Committed Debt Financing benefit from the existing lending relationships of Parent and its Subsidiaries, (xi) supplementing the information required to be delivered under this Section 5.17 so that the same does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make such information, in light of the circumstances in which the statements contained therein are made, not materially misleading and (xii) consenting to the use of its and its Subsidiaries’ logos in connection with the Committed Debt Financing; it being understood and agreed that such logos may only be used in a manner that is not intended, or reasonably likely, to harm, disparage or otherwise adversely affect Parent and its Subsidiaries or their respective reputations or goodwill. Notwithstanding the foregoing, none of Parent nor any of its Subsidiaries nor their respective officers, directors or employees shall be required to authorize, execute or enter into or perform any agreement (other than customary authorization letters) with respect to the financing contemplated herebyby the Debt Commitment Letter that is not contingent upon the Closing or that would be effective prior to the Closing. Nothing in this Section 5.17(d) will require Parent or any of its Subsidiaries to take any action that, in the good faith determination of Parent, would unreasonably interfere with the conduct of the business of Parent or any of its Subsidiaries.
(e) It is understood and agreed that after the date of this Agreement, Parent and the Company will use their respective commercially reasonable efforts to obtain debt financing in the form of a senior secured term loan facility and a senior secured cash flow revolver (the “Best Efforts Debt Financing”), in lieu of the Committed Debt Financing, to effect the Parent Refinancing and the Company Debt Repayments and to pay all related fees and expenses.. The terms and conditions of the Best Efforts Debt Financing shall be mutually satisfactory to each of Parent and the Company. Each of Parent and the Company shall promptly furnish the other Party with copies of any marketing materials, rating agency presentations, information memoranda, term sheets, draft definitive documentation or any other documents or communications prepared or received by such Party (or any of its Affiliates) in connection with the Best Efforts Debt Financing (other than any internal documents prepared by a Party and not distributed to lenders or their counsel or any other third party). In addition, each of Parent and the Company shall provide the other Party and its outside counsel a reasonable opportunity to review and comment on, and rights of approval (which approval shall not be unreasonably withheld or delayed) with respect to, any material drafts of any documents related to the Best Efforts Debt Financing prior to the dissemination by such Party of such documents to any third parties. The Best Efforts Engagement Letter may not be amended, replaced, supplemented or modified without the prior written consent of Parent and the Company. Parent and the Company shall, and shall cause their respective Subsidiaries to, use their respective commercially reasonable efforts to provide, and to use their commercially reasonable efforts to cause their respective officers, directors, employees, accountants, agents and other advisors and representatives to use their respective commercially reasonable efforts to provide, all customary cooperation in connection with the arrangement, syndication and consummation of the Best Efforts Debt Financing, the Parent Refinancing and the Company Debt Repayments, including: (i) providing such financial and other pertinent information regarding Parent, the Company and their respective Subsidiaries, as applicable, that is customarily required for financings of a type similar to the Best Efforts Debt Financing, (ii) participating in (and causing members of management with appropriate seniority and expertise to attend) a reasonable number of meetings (including one-on-one meetings or conference calls), lender presentations, due diligence sessions and sessions with prospective lenders and investors and other syndication activities, in each case that are customary for financings of a type similar to the Best Efforts Debt Financing, (iii) cooperating in the preparation of any customary syndication documents and materials, including information memoranda, lender presentations and other marketing documents customarily used to arrange financing similar to the Best Efforts Debt Financing and providing customary authorization letters with respect thereto, (iv) negotiating and preparing any credit agreements, pledge and security documents, guarantees, and any other certificates, letters and documents (including any schedules and exhibits in connection with the foregoing) as may be reasonably necessary in connection with the Best Efforts Debt Financing and executing such documents, (v) obtaining (A) audit reports, authorization letters and consents of accountants with respect to financial statements for Parent and/or the Company (or its relevant Subsidiary), as applicable, for inclusion in any marketing documentation, and (B) payoff letters and Lien terminations in connection with the Parent Refinancing and the Company Debt Repayments, as applicable; (vi) providing information regarding Parent, Company and their respective Subsidiaries, as applicable, required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act of 2001, that is requested by the Financing Sources in connection with the Best Efforts Debt Financing; (vii) assisting Parent in obtaining corporate and facility ratings (or updates thereto) from rating agencies (including assistance in preparing and/or delivering “rating agency presentations”), (viii) cooperating with each other in providing such consents, approvals or authorizations (including corporate approvals and/or authorizations) which may be reasonably necessary in connection with the Best Efforts Debt Financing, (ix) executing, or providing supporting information and data with respect to Parent, the Company or any of its Subsidiaries, as applicable, in connection with the delivery of, any solvency certificate required to be delivered in connection with the Best Efforts Debt Financing, (x) using commercially reasonable efforts to ensure that the syndication efforts in respect of the Best Efforts Debt Financing benefit from the existing lending relationships of Parent, the Company and their respective Subsidiaries, as applicable, (xi) supplementing the information required to be delivered under this Section 5.17 so that the same does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make such information, in light of the circumstances in which
Appears in 1 contract
Financing. Attached as Annex 5.2(e)(i) Assuming the debt financing is funded pursuant to the Debt Commitment Letters (as defined below), at the Effective Time, Parent Disclosure Letter is a true will have sufficient immediately available funds, together with any cash in the Company’s bank accounts immediately prior to the Closing, to enable Parent to pay in full the Merger Consideration, the Option Consideration and the Restricted Stock Consideration and any repayment or refinancing of Indebtedness contemplated by this Agreement and all fees and expenses payable by Parent in connection with this Agreement and the transactions contemplated hereby. Parent has delivered to the Company complete copy and correct copies of a debt fully executed commitment letter, other than the fee letter relating thereto letters (collectively, the “Debt Financing CommitmentCommitment Letters”)) from (i) General Electric Capital Corporation and GE Capital Markets, Inc., pursuant to which such lenders have committed, upon the lenders party thereto have agreed, terms and subject to the terms and conditions set forth therein, to lend provide debt financing to Parent in an amount up to $253 million, and (ii) BlackRock ▇▇▇▇▇ Capital Advisors LLC, Newstone Capital Partners, LLC and Providence Equity Capital Markets LLC (through one or more of its affiliates or associated funds), pursuant to which such lenders have committed, upon the amounts terms and subject to the conditions set forth therein for therein, to provide debt financing to Parent in an amount up to $80 million. The Debt Commitment Letters are in full force and effect as of the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) date hereof and all commitment fees due and payable thereunder on or prior to the Parent Disclosure Letter is a true date hereof have been paid in full. Prior to the date hereof, the Debt Commitment Letters have not been amended or modified, and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” obligations and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Debt Commitment Letters have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or prior to As of the date hereof, except for nondisclosure agreements and the Financing Commitments are in full force and effect and are the valid, binding and enforceable obligations of Parent, Merger Sub and fee letters relating to fees with respect to the knowledge debt financing (the terms of Parentwhich would not reasonably be expected to materially effect the availability of, or conditions with respect to, the other parties thereto. There debt financing), there are no conditions precedent side letters or other contingencies agreements, contracts or arrangements related to the funding of the full amount of the Financing, debt financing contemplated by the Debt Commitment Letters other than as expressly set forth in or the Debt Commitment Letters delivered to the Company prior to the date hereof. As of the date hereof, the commitment to provide debt financing contemplated by the Financing Commitments. No event has occurred which, with Debt Commitment Letters is not subject to any condition precedent or without notice, lapse of time or both, would constitute a default on other restriction limiting the part of Parent or Merger Sub under any availability of the Financing Commitments, and full amount of the financing other than as expressly set forth in the Debt Commitment Letters. As of the date hereof Parent has no reason hereof, to believe that any the Knowledge of Parent, none of the conditions to set forth in the Financing contemplated by the Financing Commitments Debt Commitment Letters will not be satisfied on or that the Financing will not be made available prior to Parent on the Closing Date. Subject to Without limiting the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash generality of the Company and its Subsidiaries on the Closing Dateforegoing, funds sufficient Parent’s ability to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of consummate the transactions contemplated herebyhereby is not, and shall not be, contingent on Parent’s ability to pay all related fees and expensescomplete any public offering or private placement of equity or debt securities or to obtain any other type of financing prior to or on the Effective Time.
Appears in 1 contract
Sources: Merger Agreement (NightHawk Radiology Holdings Inc)
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company as of the date hereof (i) a true and complete fully executed copy of a debt commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing Commitment”)Equity Commitment Letter, pursuant to which the lenders party thereto Guarantors have agreed, subject to the terms agreed and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest in Parent, directly or indirectly, the amount cash amounts set forth therein (such financing, the “Equity Financing”) and (ii) a true and complete fully executed commitment letter (together with all exhibits, schedules, and annexes thereto) and (subject to redactions of fee amounts, “market flex”, pricing caps and other economic terms) fee letter from the financial institutions identified therein (the “Debt Commitment Letter” and and, together with the Equity Commitment Letter, the “Financing Commitment Letters”) to provide, on the terms and subject only to the conditions expressly stated therein, debt financing in the amounts set forth in the Debt Financing CommitmentCommitment Letter (being collectively referred to as the “Debt Financing” and, together with the Equity Financing, the “Financing”), in each case for the purpose of satisfying the obligations of Parent and/or Merger Sub in this Agreement and the Financing Commitment Letters (including payment of the aggregate Merger Consideration, any payment of any other fees and expenses and obligations required to be paid or satisfied by Parent, Merger Sub or the Surviving Corporation in connection with the transactions contemplated by this Agreement and the Financing (the “Required Amount”). The Equity Commitment Letter provides that the Company is an express third party beneficiary thereof and Parent and the Guarantors will not oppose the granting of an injunction, specific performance or other equitable relief in connection with the proper exercise of such third party beneficiary rights.
(b) None of the Financing Commitments has Commitment Letters have been amended amended, restated or otherwise modified prior (except for amendments, restatements and modifications that are not prohibited by Section 5.14) or waived, and the respective commitments contained therein have not been withdrawn, modified or rescinded in any respect, in each case, as of the date of this Agreement (except for amendments, restatements and modifications that are not prohibited by Section 5.14 and except as described in the Fee Letter (including any “market flex”) and to add additional lenders, lead arrangers, bookrunners, agents or similar entities who had not executed the Debt Commitment Letter as of the date hereof) and no such amendment, restatement, modification or waiver thereto is contemplated. As of the date of this Agreement, no such amendment Guarantor has notified Parent or modification is contemplated, and Merger Sub of its intention to terminate the respective commitments contained Equity Commitment Letter or not to provide the Equity Financing. The funding of the Financing on the terms set forth in the Financing Commitments have Commitment Letters is not been withdrawn or rescinded in subject to any respect. Parent has fully paid any and all commitment fees conditions precedent or other fees similar contingencies other than as expressly set forth in connection with the Financing Commitments that are payable on or prior to Commitment Letters. As of the date hereofof this Agreement, and the Financing Commitments Commitment Letters are in full force and effect and are constitute the validlegal, valid and binding obligation of Parent and enforceable obligations of Parent, Merger Sub and (to the knowledge Knowledge of Parent) each other party thereto, the other parties thereto. enforceable against each party thereto in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, rehabilitation, liquidation, preferential transfer, moratorium and similar Laws now or hereafter affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at equity or law)).
(c) There are no conditions precedent side letters or other written or oral agreements, Contracts, arrangements, conditions precedent, contingencies related or other provisions relating to the funding or investing, as applicable, of the full amount of the FinancingFinancing needed on the Closing Date to pay the Required Amount.
(d) Assuming (i) the Financing is funded in accordance with the Equity Commitment Letter and the Debt Commitment Letter, other than as applicable, and (ii) completion of the Marketing Period and that the conditions set forth in or Section 6.1 and Section 6.3 will be satisfied on the Closing Date, the net proceeds contemplated by the Financing Commitments. No Equity Commitment Letter and the Debt Commitment Letter (both before and after giving effect to any “flex” provisions contained in the Debt Commitment Letter) will in the aggregate be sufficient for Parent and Merger Sub and the Surviving Corporation to pay the Required Amount.
(e) (i) As of the date hereof, no event has occurred which, which would constitute or would reasonably be expected to constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute or would reasonably be expected to constitute a default default) on the part of Parent or Merger Sub or (to the Knowledge of Parent) any other party, under any Financing Commitment Letter, and (ii) assuming the completion of the Financing CommitmentsMarketing Period and the accuracy in all material respects of the Company’s representations and warranties contained in Article III hereof, and as of the date hereof hereof, Parent has no reason to believe that any of the conditions to the Financing contemplated by Financing, whether or not such term or condition is contained in the Financing Commitments Commitment Letters, will not be satisfied or that the full amount of the Financing needed to pay the Required Amount will not be made available to Parent or Merger Sub on or prior to the Closing DateDate for purposes of paying the Required Amount. Subject to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash As of the Company date hereof, the Parent has fully paid any and its Subsidiaries on the Closing Dateall commitment and other fees, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (costs and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts expenses that are required to be paid on or prior to the date of this Agreement pursuant to the Financing Commitment Letters or otherwise in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesFinancing.
Appears in 1 contract
Sources: Merger Agreement (CommerceHub, Inc.)
Financing. Attached as Annex 5.2(e)(i) Parent has delivered to the Parent Disclosure Letter is a Company true and complete copy copies of a (i) the debt commitment letter, other than letters dated as of the fee letter relating thereto Execution Date from ▇▇▇▇▇▇▇ Sachs Credit Partners L.P. and Citigroup Global Markets Inc. (collectively, the “Debt Financing CommitmentCommitments”), pursuant to which the lenders party thereto have agreedcommitted, subject to the terms and conditions set forth thereinthereof, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii, and (ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letterletters, dated as of the date hereofExecution Date, from GS Capital Partners V Fund, L.P. each of the Persons listed in Section 5.7 of the Parent Disclosure Letter (the “Equity Financing CommitmentCommitments” and together with the Debt Financing CommitmentCommitments, the “Financing Commitments”), pursuant to which the such parties thereto have committed, subject to the terms and conditions set forth thereinthereof, to invest the amount cash amounts set forth therein (the “Equity Financing” and together with the Debt Financing CommitmentFinancing, the “Financing”). None Prior to the Execution Date, (i) none of the Financing Commitments has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplatedmodified, and (ii) the respective commitments contained in the Financing Commitments have not been withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees in connection with As of the Financing Commitments that are payable on or prior to the date hereofExecution Date, and the Financing Commitments are in full force and effect and are the validlegal, valid and binding and enforceable obligations of Parent, Merger Sub Parent and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding As of the full amount Execution Date, assuming the accuracy of the FinancingCompany’s representations and warranties contained herein, other than as set forth neither Parent, Merger Sub nor any direct investor in or contemplated by the Financing Commitments. No Parent has any knowledge that any event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent, Merger Sub or any direct investor in Parent under any term or condition of the Financing Commitments or otherwise be reasonably likely to result in any portion of the Financing contemplated thereby to be unavailable. The only conditions precedent to the obligations of the lenders and other Persons committing pursuant to the Financing Commitments to make the Financing available to Parent or Merger Sub under any its Affiliates are those contemplated by the terms of the Financing Commitments, and as . As of the date hereof Execution Date, assuming the accuracy of the Company’s representations and warranties contained herein, neither Parent, Merger Sub nor any of the direct investors in Parent has no any reason to believe that it will be unable to satisfy on a timely basis any of the conditions term or condition to be satisfied by it and contained in the Financing contemplated Commitments. Parent, Merger Sub and their respective Affiliates have fully paid any and all commitment fees or other fees required by the terms of the Financing Commitments will not to be satisfied paid on or that before the Financing will not be made available to Parent on the Closing Execution Date. Subject to the terms and conditions of the Financing Commitments and this Agreement and assuming the accuracy of the Company’s representations and warranties contained herein, the proceeds from the Financing constitute all of the financing required to be provided by Parent for the consummation of the Merger upon the terms set forth in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt other transactions contemplated by this Agreement or the Financing Commitments) and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesAgreement.
Appears in 1 contract
Financing. Attached as Annex 5.2(e)(i(a) Parent has delivered to the Parent Disclosure Letter is Company a true complete and complete correct copy of a debt fully executed commitment letterletter from the Financing Sources (including all exhibits, other than the fee letter relating thereto (collectivelyschedules, the “Debt Financing Commitment”), pursuant and annexes to which the lenders party thereto have agreed, subject such letters as and to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) extent delivered to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth therein, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended Company on or modified prior to the date of this Agreement, no such amendment or modification is contemplatedthe “Debt Commitment Letter”), and the respective commitments contained in pursuant to which the Financing Commitments Sources have not been withdrawn or rescinded in any respect. Parent has fully paid any committed, upon the terms and all commitment fees or other fees subject to the conditions set forth therein, to provide the debt financing described therein in connection with the Financing Commitments that transactions contemplated hereby. The Debt Commitment Letter and any other debt commitment letter (including any replacement of the Debt Commitment Letter in connection with any Alternative Financing) executed in accordance with Section 7.06, as replaced, amended, supplemented, modified or waived in accordance with Section 7.06, including all exhibits, schedules, and annexes to such letters, are payable on or prior hereinafter referred to together as the “Debt Commitment Letters”. The financing contemplated pursuant to the Debt Commitment Letters is hereinafter referred to as the “Debt Financing”.
(b) As of the date hereofof this Agreement, and the Financing Commitments Debt Commitment Letters are in full force and effect and are the validlegal, valid and binding and enforceable obligations of Parent, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related , and enforceable in accordance with their respective terms against Parent, and to the funding knowledge of Parent, each of the other parties thereto, subject to the Bankruptcy and Equity Exceptions. All commitment fees required to be paid under the Debt Commitment Letters have been paid in full amount or will be duly paid in full as and when due, and Parent and Merger Sub have otherwise satisfied all of the Financingother items and conditions required to be satisfied by them, other than and within their control, pursuant to the terms of the Debt Commitment Letters on or prior to the date of this Agreement. None of the Debt Commitment Letters have been amended, modified or terminated on or prior to the date of this Agreement, and no Debt Commitment Letter will be amended, modified or terminated by Parent or Merger Sub except as consistent with Section 7.06. As of the date of this Agreement, assuming the accuracy of the Company’s representations and warranties set forth in or contemplated by the Financing Commitments. No this Agreement, no event has occurred which, with or without notice, lapse of time or both, would constitute a breach or default on the part of by Parent or Merger Sub under any Debt Commitment Letter. None of the Financing CommitmentsParent or Merger Sub is, and as of the date hereof of this Agreement, aware of any fact, occurrence or condition that makes any of the representations or warranties of Parent has or Merger Sub set forth in any Debt Commitment Letter inaccurate (assuming the accuracy of the Company’s representations and warranties set forth in this Agreement) in any material respect, that would cause the commitments provided in the Debt Commitment Letter to be terminated or ineffective or any of the conditions contained therein not to be met. The consummation of the Debt Financing is subject to no conditions precedent other than those expressly set forth in the copies of the Debt Commitment Letters delivered to the Company, and there are no contingencies that would permit the Financing Sources to reduce the total amount of the Debt Financing other than those expressly set forth in the copies of the Debt Commitment Letters delivered to the Company. Except for fee letters relating to fees with respect to the Debt Financing (redacted copies of which, removing only fee amounts, market “flex” provisions and certain other terms (none of which would adversely affect the amounts, availability, timing or conditionality of the Debt Financing), have been provided to the Company on or prior to the date of this Agreement) and any engagement letters or fee discount letters related to the permanent financing referred to in the Debt Commitment Letters, there are no side letters or other agreements, contracts or arrangements to which Parent or Merger Sub or any of their respective Affiliates are a party related to the funding of the Debt Financing, other than as expressly set forth in the Debt Commitment Letters delivered to the Company on or prior to the date of this Agreement. As of the date of this Agreement, assuming no breach by the Company of its representations and warranties under this Agreement (and cooperation and assistance by the Company as required by the terms of this Agreement) and no breach or default by the Company of its obligations under this Agreement (in either case such that the conditions set forth in Section 9.01 or Section 9.02 would fail to be satisfied), and based upon facts and events known by Parent as of the date of this Agreement, none of Parent or Merger Sub have any reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent or Merger Sub as contemplated in the Debt Commitment Letters on or prior to the Closing Date. Subject to the terms and conditions contained in this Agreement and of the Financing CommitmentsDebt Commitment Letters, Parent and Merger Sub will have at the Closingaggregate proceeds of the Debt Financing, together with cash or cash equivalents held by Parent and the available cash other sources of funds referenced in the copies of the Debt Commitment Letters delivered to the Company and its Subsidiaries on or prior to the Closing Datedate of this Agreement, funds as of the Effective Time, will be sufficient to enable Parent to pay the in cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other all amounts required to be paid by it in cash in connection with the transactions contemplated hereby, including the Merger Consideration and all payments, fees and expenses payable by it related to or arising out of the consummation of the transactions contemplated hereby, and to pay all related fees and expensesby this Agreement.
Appears in 1 contract
Sources: Merger Agreement (Aetna Inc /Pa/)
Financing. Attached as Annex 5.2(e)(i(a) The Purchaser Parties have delivered to the Parent Disclosure Letter is a true Company true, correct and complete copy fully executed copies of a debt commitment letterthe Debt Commitment Letter including all exhibits, other than schedules and annexes to such Debt Commitment Letter in effect as of the date of this Agreement (it being understood that each fee letter and the Debt Commitment Letter, if applicable, has been redacted to remove the fee letter relating thereto (collectivelyamounts, the rates and amounts included in the “market flex” and other economic terms that could not adversely affect the conditionality, enforceability, termination or aggregate principal amount of the Debt Financing Commitment”Financing). As of the date hereof, pursuant to which the lenders party thereto have agreedto, and subject to the terms and conditions set forth thereinof, the Debt Commitment Letter, the Debt Financing Sources thereunder have committed to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have committed, subject to the terms and conditions set forth thereinin such Debt Commitment Letter. The Debt Commitment Letter has not been amended, to invest the amount set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the Financing Commitments has been amended restated or otherwise modified or waived prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments Debt Commitment Letter have not been withdrawn withdrawn, rescinded, amended, restated or rescinded otherwise modified in any respect. Parent has fully paid any and all commitment fees or other fees in connection with the Financing Commitments that are payable on or respect prior to the date of this Agreement and, to the knowledge of Purchaser Parties, no withdrawal, rescission, amendment, restatement or other modification in any respect is contemplated (except as contemplated or as permitted as of the date hereof in this Agreement). As of the date hereof, and there are no side letters or other agreements, contracts or arrangements to which the Financing Commitments are Purchaser Parties or any of its Affiliates is a party that would reasonably be expected to adversely affect the availability or amount of the Debt Financing.
(b) As of the date of this Agreement, the Debt Commitment Letter is in full force and effect and are constitutes the validlegal, valid and binding and enforceable obligations obligation of ParentSunoco and, Merger Sub and to the knowledge of ParentPurchaser Parties, the other parties thereto, enforceable in accordance with its terms against Sunoco and, to the knowledge of Purchaser Parties, each of the other parties thereto, subject to applicable bankruptcy, insolvency and other laws of general application limiting the enforceability of creditors’ rights and to the fact that equitable remedies are only available in the discretion of the court. There As of the date of this Agreement, there are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingDebt Financing pursuant to the Debt Commitment Letter, other than as expressly set forth in or the Debt Commitment Letter.
(c) The net proceeds contemplated by from the Debt Financing Commitmentscontemplated in the Debt Commitment Letter, together with the Sunoco’s available cash and available borrowings under the Sunoco Existing Credit Facilities will be in an amount sufficient to pay the Cash Consideration and all amounts payable under, and all expenses reasonably expected to be incurred in connection with, this Agreement and the other transactions contemplated hereby (collectively, such amounts the “Required Amount”). No As of the date of this Agreement: (i) no event has occurred which, which would constitute a breach or default (or an event which with notice or without notice, lapse of time or both, both would constitute a default default) or result in a failure to satisfy a condition precedent, in each case, on the part of Parent or Merger Sub Sunoco or, to the knowledge of Purchaser Parties, any other party to the Debt Commitment Letter, under the Debt Commitment Letter; and (ii) the Purchaser Parties do not have any of the Financing Commitments, and as of the date hereof Parent has no reason to believe that any of the conditions to the Debt Financing contemplated by the Financing Commitments will not be satisfied or that the Debt Financing will not be made available to Parent the Purchaser Parties on the Closing Effective Date. Subject Sunoco has fully paid all commitment fees and other amounts to the terms and conditions contained in this Agreement and the Financing Commitments, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) and any other amounts extent required to be paid on or prior to the date of this Agreement in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesDebt Financing.
Appears in 1 contract
Sources: Arrangement Agreement (Sunoco LP)
Financing. Attached as Annex 5.2(e)(i(a) Parent and Merger Sub have delivered to the Parent Disclosure Letter is Company a true and complete copy of a debt an executed equity commitment letter, other than the fee letter relating thereto (collectively, the “Debt Financing CommitmentCommitment Letter”), pursuant to which the lenders party thereto have agreed, subject to the terms and conditions set forth therein, to lend the amounts set forth therein for the purposes of financing the transactions contemplated by this Agreement (the “Debt Financing”). Attached as Annex 5.2(e)(ii) to the Parent Disclosure Letter is a true and complete copy of the equity commitment letter, dated as of the date hereof, from GS Capital Partners V Fund, L.P. (the “Equity Financing Commitment” and together with the Debt Financing Commitment, the “Financing Commitments”), pursuant to which the parties thereto have Investor has committed, subject to the terms and conditions set forth therein, to invest the amount cash amounts set forth therein (the “Equity Financing” and together with the Debt Financing Commitment, the “Financing”). None of the .
(b) The Financing Commitments Commitment has been amended or modified prior to the date of this Agreement, no such amendment or modification is contemplated, and the respective commitments contained in the Financing Commitments have not been amended, modified, withdrawn or rescinded in any respect. Parent has fully paid any and all commitment fees or other fees The Commitment Letter, in connection with the Financing Commitments that are payable on or prior to the date hereofform so delivered, and the Financing Commitments are is in full force and effect and are the validis a legal, valid and binding and enforceable obligations obligation of ParentParent and, Merger Sub and to the knowledge of Parent, the other parties thereto. There are no conditions precedent or other contingencies related to the funding of the full amount of the FinancingFinancing Commitment, other than as set forth in or contemplated by the Financing CommitmentsCommitment Letter. No As of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Parent or Merger Sub under any term or condition of the Financing Commitments, and as Commitment. As of the date hereof hereof, neither Parent nor Merger Sub has no any reason to believe that it will be unable to satisfy on a timely basis any of the conditions term or condition to be satisfied by it contained in the Financing Commitment. Parent has fully paid any and all commitment fees that have been incurred and are due and payable in connection with the Financing Commitment, and Parent will pay when due all other commitment fees arising under the Commitment Letter as and when they become payable.
(c) Parent and Merger Sub have no Contracts, arrangements or understandings with any Person concerning the contributions to be made to Parent or Merger Sub in connection with the transactions contemplated by the Financing Commitments will not this Agreement that would be satisfied or that the Financing will not be made available to Parent on the Closing Date. Subject to inconsistent with the terms and conditions contained in of the Commitment Letter or would adversely affect Parent’s rights and obligations under this Agreement Agreement, nor any Contracts or non-binding arrangements or understandings with any Person concerning the ownership and the Financing Commitmentsoperation of Parent, Parent and Merger Sub will have at the Closing, together with the available cash of the Company and its Subsidiaries on the Closing Date, funds sufficient to pay the cash portion of the aggregate Per Share Merger Consideration (and any repayment or refinancing of debt contemplated by this Agreement or the Financing Commitments) Surviving Corporation other than those that would not adversely affect Parent’s rights and any other amounts required to be paid in connection with the consummation of the transactions contemplated hereby, and to pay all related fees and expensesobligations under this Agreement.
Appears in 1 contract
Sources: Merger Agreement (Pharsight Corp)