AMENDMENT No. 1, dated as of July 12, 2016 (this “Amendment”), to the Credit Agreement, dated as of June 18, 2015, by and among Jazz Pharmaceuticals Public Limited Company, a public limited company organized under the laws of Ireland (“Parent”), Jazz...
AMENDMENT No. 1, dated as of July 12, 2016 (this “Amendment”), to the Credit Agreement, dated as of June 18, 2015, by and among Jazz Pharmaceuticals Public Limited Company, a public limited company organized under the laws of Ireland (“Parent”), Jazz Securities Limited, a Section 110 company incorporated under the laws of Ireland (the “Lead Borrower”), Jazz Pharmaceuticals, Inc., a Delaware corporation (the “U.S. Borrower”), Jazz Financing I Limited, a company incorporated under the laws of Ireland (“Jazz Financing I”), Jazz Pharmaceuticals Ireland Limited, a company incorporated under the laws of Ireland (together with the Lead Borrower and Jazz Financing I, the “Irish Borrowers” and, together with the U.S. Borrower, the “Borrowers” and each, a “Borrower”), the Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”), Collateral Agent, Swing Line Lender and L/C Issuer (as amended, restated, modified and supplemented prior to the date hereof, the “Original Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement (as defined below).
WHEREAS, Parent intends to directly or indirectly acquire (the “Celator Acquisition”) all of the common stock of Celator Pharmaceuticals, Inc., a Delaware corporation (“Celator”), in a cash tender offer followed by a merger pursuant to the Agreement and Plan of Merger, dated as of May 27, 2016, among Parent, Celator and Plex Merger Sub, Inc., an indirect wholly-owned subsidiary of Parent (“Plex Merger Sub”) (including the schedules and exhibits thereto, the “Celator Merger Agreement”);
WHEREAS, this Amendment shall be considered an Increase Joinder pursuant to Section 2.15(c) of the Original Credit Agreement;
WHEREAS, Section 2.15(c) of the Original Credit Agreement provides that an Increase Joinder may, without the consent of any other Lenders, effect such amendments to the Original Credit Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of Section 2.15 of the Original Credit Agreement;
WHEREAS, in addition to the foregoing, the Parent desires to amend the Original Credit Agreement to effect the amendments set forth herein;
(a)The Original Credit Agreement is, effective as of the Amendment No. 1 Effective Date, hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Original Credit Agreement attached as Exhibit A hereto (the Original Credit Agreement, as so amended, being referred to as the “Amended Credit Agreement”).
SECTION 8. Applicable Law. THIS AMENDMENT AND THE OTHER AMENDMENT DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER AMENDMENT DOCUMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL (EXCEPT, AS TO ANY OTHER AMENDMENT DOCUMENT, AS EXPRESSLY SET FORTH THEREIN), BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT EACH OF (A) THE INTERPRETATION OF THE DEFINITION OF COMPANY MATERIAL ADVERSE EFFECT AND WHETHER THERE SHALL HAVE OCCURRED A COMPANY MATERIAL ADVERSE EFFECT AND (B) WHETHER THE CELATOR ACQUISITION SHALL HAVE BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE CELATOR MERGER AGREEMENT, IN EACH CASE, SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES OF SUCH STATE TO THE EXTENT THAT THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
JAZZ PHARMACEUTICALS, INC., as U.S. | ||||
Borrower | ||||
By: | /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | |||
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | ||||
Title: Chief Financial Officer | ||||
SIGNED for and on behalf of | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ | |||
JAZZ PHARMACEUTICALS PUBLIC | ▇▇▇▇▇ ▇▇▇▇▇▇ | |||
LIMITED COMPANY | Company Secretary | |||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Signature) | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Name) | ||||
/s/ Connaught House | ||||
(Witness’ Address) | ||||
/s/ Chartered Secretary | ||||
(Witness’ Occupation) | ||||
SIGNED for and on behalf of | /s/ ▇▇▇▇▇▇▇ ▇’ ▇▇▇▇▇ | |||
JAZZ SECURITIES LIMITED | ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇ | |||
Director | ||||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Signature) | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Name) | ||||
/s/ Connaught House | ||||
(Witness’ Address) | ||||
/s/ Chartered Secretary | ||||
(Witness’ Occupation) |
SIGNED for and on behalf of | /s/ ▇▇▇▇▇▇▇ ▇'▇▇▇▇▇ | |||
JAZZ PHARMACEUTICALS | ▇▇▇▇▇▇▇ ▇'▇▇▇▇▇ | |||
IRELAND LIMITED | Director | |||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Signature) | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Name) | ||||
/s/ Connaught House | ||||
(Witness’ Address) | ||||
/s/ Chartered Secretary | ||||
(Witness’ Occupation) | ||||
SIGNED for and on behalf of | /s/ ▇▇▇▇ ▇▇▇▇▇ | |||
JAZZ FINANCING I LIMITED | ▇▇▇▇ ▇▇▇▇▇ | |||
Director | ||||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Signature) | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
(Witness’ Name) | ||||
/s/ Connaught House | ||||
(Witness’ Address) | ||||
/s/ Chartered Secretary | ||||
(Witness’ Occupation) |
GIVEN under the Common Seal of | {Common Seal} | |||
JAZZ CAPITAL LIMITED | ||||
and DELIVERED AS A DEED | ||||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | /s/ ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇ | |||
Witness Name | Name: ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇ | |||
Title: Director | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
Witness Signature | ||||
/s/ ▇▇▇▇ ▇▇▇▇▇ | ||||
/s/ Connaught House | Name: ▇▇▇▇ ▇▇▇▇▇ | |||
Witness Address | Title: Director | |||
/s/ Chartered Secretary | ||||
Witness Occupation | ||||
GIVEN under the Common Seal of | ||||
JAZZ FINANCING II LIMITED | ||||
and DELIVERED AS A DEED | ||||
in the presence of: | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | /s/ ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇ | |||
Witness Name | Name: ▇▇▇▇▇▇▇ ▇’▇▇▇▇▇ | |||
Title: Director | ||||
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ||||
Witness Signature | ||||
/s/ ▇▇▇▇ ▇▇▇▇▇ | ||||
/s/ Connaught House | Name: ▇▇▇▇ ▇▇▇▇▇ | |||
Witness Address | Title: Director | |||
/s/ Chartered Secretary | ||||
Witness Occupation |
JAZZ INVESTMENTS I LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director | |
JAZZ INVESTMENTS II LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director | |
JAZZ PHARMACEUTICALS INTERNATIONAL LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director | |
JAZZ PHARMACEUTICALS INTERNATIONAL II LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director | |
JAZZ PHARMACEUTICALS INTERNATIONAL III LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director |
JAZZ PHARMACEUTICALS EUROPE HOLDINGS LIMITED | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Director | |
By: | /s/ ▇▇▇▇▇▇▇ ▇'▇▇▇▇▇ |
Name: ▇▇▇▇▇▇▇ ▇'▇▇▇▇▇ | |
Title: Director | |
JAZZ PHARMACEUTICALS LUX S.á.▇.▇. | |
By: | /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇ |
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇ | |
Title: Manager | |
▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ – ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Company No: B130062 Tax ID: 2007 2434 499 Share capital: EUR 59,713,225 | |
JAZZ FINANCING LUX S.á.▇.▇. | |
By: | /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇ |
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇ | |
Title: Manager | |
▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ – ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Company No: B178623 Tax ID: 2013 2428 906 Share capital: USD 25,000 |
JAZZ PHARMACEUTICALS HOLDINGS INC. | |
By: | /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ |
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | |
Title: Treasurer |
BANK OF AMERICA, N.A., as Administrative Agent and Collateral Agent | |
By: | /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ |
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇ | |
Title: Assistant Vice President |
BANK OF AMERICA, N.A., as L/C Issuer and Swing Line Lender | |
By: | /s/ ▇▇▇▇▇ Alto |
Name: ▇▇▇▇▇ Alto | |
Title: SVP |
BANK OF AMERICA, N.A., | |
By: | /s/ ▇▇▇▇▇ Alto |
Name: ▇▇▇▇▇ Alto | |
Title: SVP |
Citibank, N.A., | |
By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
Title: Vice President |
DNB (UK) Limited | |
By: | /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇▇▇ ▇▇▇▇▇ | |
Title: SVP | |
By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
Title: Authorised Signatory |
JPMORGAN CHASE BANK, N.A., | |
By: | /s/ ▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇ ▇▇▇▇▇ | |
Title: Executive Director |
The Bank of Tokyo-Mitsubishi UFJ, Ltd., | |
By: | /s/ ▇▇▇▇▇ ▇'▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇'▇▇▇▇▇▇▇ | |
Title: Director |
ROYAL BANK OF CANADA, | |
By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | |
Title: Authorized Signatory |
Sumitomo Mitsui Banking Corporation, | |
By: | /s/ ▇▇▇▇▇ ▇. ▇▇▇ |
Name: ▇▇▇▇▇ ▇. ▇▇▇ | |
Title: Managing Director |
BARCLAYS BANK PLC, | |
By: | /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇▇▇ ▇▇▇▇▇ | |
Title: Vice President |
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH | |
By: | /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ |
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ | |
Title: Authorized Signatory | |
By: | /s/ ▇▇▇ ▇▇▇▇▇▇▇ |
Name: ▇▇▇ ▇▇▇▇▇▇▇ | |
Title: Authorized Signatory |
HSBC Bank plc, (Dublin Branch) | |
By: | /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ |
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ | |
Title: Head of Corporates | |
By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
Title: Senior Manager |
HSBC Bank USA, N.A. | |
By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ | |
Title: Assistant Vice President |
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BANK, N.A. | |
By: | /s/ ▇▇▇▇▇▇▇ ▇▇▇▇ |
Name: ▇▇▇▇▇▇▇ ▇▇▇▇ | |
Title: Authorized Signatory |
SunTrust Bank, | |
By: | /s/ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ |
Name: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ | |
Title: Director |
CITIZENS BANK, N.A. | |
By: | /s/ R. ▇▇▇▇▇ ▇▇▇▇▇▇▇ |
Name: R. ▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
Title: Managing Director |
Associated Bank, NA | |
By: | /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ |
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ | |
Title: Senior Vice President and Team Leader |
Taiwan Cooperative Bank, Ltd., Seattle Branch, | |
By: | /s/ Cheng-Pin Chou |
Name: Cheng-Pin Chou | |
Title: VP & General Manager |
Incremental Revolving Lender | New Revolving Commitment |
Bank of America, N.A. | $500,000,000.00 |
Total | $500,000,000.00 |
Lender | Term Commitment | ||
Bank of America, N.A. | $ | 114,016,708.33 | |
Citibank, N.A. | $ | 58,296,529.97 | |
DNB (UK) Limited | $ | 58,296,529.97 | |
JPMorgan Chase Bank, N.A. | $ | 58,296,529.97 | |
Royal Bank of Canada | $ | 58,296,529.97 | |
Sumitomo Mitsui Banking Corporation | $ | 58,296,529.97 | |
The Bank of Tokyo-Mitsubishi UFJ, Ltd. | $ | 58,296,529.97 | |
Barclays Bank PLC | $ | 41,900,630.91 | |
Credit Suisse AG, Cayman Islands Branch | $ | 41,900,630.91 | |
HSBC Bank PLC (Dublin Branch) | $ | 36,093,750.00 | |
HSBC Bank USA, N.A. | $ | 5,806,880.91 | |
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Bank, N.A. | $ | 41,900,630.91 | |
SunTrust Bank | $ | 41,900,630.91 | |
Taiwan Cooperative Bank, Ltd., Seattle Branch | $ | 19,427,692.31 | |
Citizens Bank, N.A. | $ | 18,217,665.62 | |
Associated Bank, National Association | $ | 10,930,599.37 | |
Total | $ | 721,875,000.00 |
Lender | Revolving Commitment | ||
Bank of America, N.A. | $ | 231,072,555.20 | |
Citibank, N.A. | $ | 100,946,372.24 | |
DNB (UK) Limited | $ | 100,946,372.24 | |
JPMorgan Chase Bank, N.A. | $ | 100,946,372.24 | |
Royal Bank of Canada | $ | 100,946,372.24 | |
Sumitomo Mitsui Banking Corporation | $ | 100,946,372.24 | |
The Bank of Tokyo-Mitsubishi UFJ, Ltd. | $ | 100,946,372.24 | |
Barclays Bank PLC | $ | 72,555,205.05 | |
Credit Suisse AG, Cayman Islands Branch | $ | 72,555,205.05 | |
HSBC Bank PLC (Dublin Branch) | $ | 38,437,500.00 | |
HSBC Bank USA, N.A. | $ | 34,117,705.05 | |
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Bank, N.A. | $ | 72,555,205.05 | |
SunTrust Bank | $ | 72,555,205.05 | |
Citizens Bank, N.A. | $ | 31,545,741.32 | |
Associated Bank, National Association | $ | 18,927,444.79 | |
Total | $ | 1,250,000,000.00 |
• | Deed of Confirmation in respect of the Irish Debenture, as supplemented by Supplemental Deeds dated 25 November 2015 and 17 February 2016 (the “Debenture”), dated 12 July 2016, between the Irish Borrowers, Parent, Jazz Capital Limited, Jazz Financing II Limited and the Collateral Agent |
• | Supplemental Deed (with respect to the shares of Jazz Capital Limited in Jazz Pharmaceuticals Ireland Limited), dated 12 July 2016, between the Irish Borrowers, Parent, Jazz Capital Limited, Jazz Financing II Limited and the Collateral Agent, to the Debenture |
• | Supplemental Deed and Deed of Confirmation (with respect to the shares of Jazz Investments II Limited in Jazz Capital Limited), dated 12 July 2016, between Jazz Investments II Limited and the Collateral Agent, to a Deed of Charge over Shares, dated 18 June 2015, between Jazz Investments II Limited (with respect to shares of Jazz Investments II Limited in Jazz Capital Limited and Jazz Financing I Limited) |
• | Deed of Confirmation in respect of the Deed of Charge over Shares, dated 18 June 2015, between Jazz Financing Lux S.à ▇.▇. and the Collateral Agent (with respect to the shares of Jazz Financing Lux S.à ▇.▇. in Jazz Financing II Limited) |
Item | Requirement | Time Limit (or, in each case, such later time as agreed to by the Administrative Agent in its sole discretion) |
1. | The Administrative Agent shall have received a second ranking financial securities account pledge agreement executed between, inter alios, Jazz Pharmaceuticals Lux S.à ▇.▇. as pledgor and the Collateral Agent | 90 days after the Amendment No. 1 Effective Date |
2. | The Administrative Agent shall have received a statement of pledge relating to the second ranking financial securities account pledge agreement executed between Jazz Pharmaceuticals Lux S.à ▇.▇. as pledgor and the Collateral Agent | 90 days after the Amendment No. 1 Effective Date |
3. | The Administrative Agent shall have received a certificate of pledge over financial securities account relating to the second ranking financial securities account pledge agreement executed by Jazz Pharmaceuticals France Holdings | 90 days after the Amendment No. 1 Effective Date |
4. | The Administrative Agent shall have received a certificate of pledge over special bank account relating to the second ranking financial securities account pledge agreement executed by the special bank account holder | 90 days after the Amendment No. 1 Effective Date |
5. | The Administrative Agent shall have received a favorable written opinion of ▇▇▇▇▇ Lovells (Paris) LLP, French counsel to the Loan Parties, with respect to the documents listed in items 1 through 4 above. | 90 days after the Amendment No. 1 Effective Date |
6. | The Administrative Agent shall have received the following documents in respect of Jazz Pharmaceuticals France Holdings: - a certified copy of its by-laws (statuts); - an original k-bis extract and an original solvency certificate (certificat de non faillite) issued by the relevant trade and companies registry (registre du commerce et des sociétés), each dated not more that 30 days before the date of the second ranking financial securities account pledge agreement; and - a certified copy of its updated share transfer register (registre des mouvements de titres) and shareholder accounts (comptes d’actionnaires). | 90 days after the Amendment No. 1 Effective Date |
Section 1.01 | Defined Terms | 1 | |||
Section 1.02 | Other Interpretative Provisions | 57 | 59 | ||
Section 1.03 | Accounting Terms and Determinations | 58 | 60 | ||
Section 1.04 | Rounding | 60 | 61 | ||
Section 1.05 | Times of Day; Rates | 60 | 62 | ||
Section 1.06 | Letter of Credit Amounts | 60 | 62 | ||
Section 1.07 | Classes and Types of Borrowings | 60 | 62 | ||
Section 1.08 | Currency Translation | 60 | 62 | ||
Section 1.09 | Baskets | 61 | 62 | ||
Section 1.10 | Concerning Liability of Borrowers | 61 | 63 |
Section 2.01 | Commitments To Lend | 61 | 63 | ||
Section 2.02 | Notice of Borrowings | 64 | 66 | ||
Section 2.03 | Notice to Lenders; Funding of Loans | 65 | 67 | ||
Section 2.04 | Evidence of Loans | 67 | 69 | ||
Section 2.05 | Letters of Credit | 68 | 70 | ||
Section 2.06 | Interest | 79 | 80 | ||
Section 2.07 | Extension and Conversion | 79 | 81 | ||
Section 2.08 | Repayment of Loans; Maturity of Loans | 81 | 83 | ||
Section 2.09 | Prepayments | 82 | 83 | ||
Section 2.10 | Adjustment of Commitments | 84 | 86 | ||
Section 2.11 | Fees | 85 | 87 | ||
Section 2.12 | Pro rata Treatment | 86 | 88 | ||
Section 2.13 | Sharing of Payments by Lenders | 87 | 88 | ||
Section 2.14 | Payments Generally; Administrative Agent’s Clawback | 87 | 89 | ||
Section 2.15 | Increase in Commitments | 89 | 90 | ||
Section 2.16 | Cash Collateral | 91 | 93 | ||
Section 2.17 | Defaulting Lenders | 92 | 94 | ||
Section 2.18 | Refinancing Amendments | 94 | 96 | ||
Section 2.19 | Discounted Prepayments | 95 | 97 |
Section 3.01 | Taxes | 101 | 103 | ||
Section 3.02 | Illegality | 105 | 107 | ||
Section 3.03 | Inability To Determine Rates | 106 | 108 | ||
Section 3.04 | Increased Costs and Reduced Return; Capital Adequacy | 107 | 109 |
Section 3.05 | Compensation for Losses | 108 | 110 | ||
Section 3.06 | Base Rate Loans Substituted for Affected Eurodollar Loans | 108 | 110 | ||
Section 3.07 | Mitigation Obligations; Replacement of Lenders | 109 | 111 | ||
Section 3.08 | Survival | 110 | 112 |
Section 4.01 | Conditions to Initial Credit Extension | 111 | 113 | ||
Section 4.02 | Conditions to All Credit Extensions | 114 | 116 |
Section 5.01 | Existence, Qualification and Power | 115 | 117 | ||
Section 5.02 | Authorization; No Contravention | 115 | 117 | ||
Section 5.03 | Governmental Authorization; Other Consents | 115 | 117 | ||
Section 5.04 | Binding Effect | 115 | 117 | ||
Section 5.05 | Financial Condition; No Material Adverse Effect | 116 | 118 | ||
Section 5.06 | Litigation | 116 | 118 | ||
Section 5.07 | Ownership of Property, Liens | 116 | 118 | ||
Section 5.08 | Environmental Matters | 117 | 119 | ||
Section 5.09 | Insurance | 117 | 119 | ||
Section 5.10 | Taxes | 118 | 120 | ||
Section 5.11 | ERISA; Foreign Pension Plans; Employee Benefit Arrangements | 118 | 120 | ||
Section 5.12 | Subsidiaries; Equity Interests | 119 | 121 | ||
Section 5.13 | Margin Regulations; Investment Company Act | 119 | 121 | ||
Section 5.14 | Disclosure | 120 | 122 | ||
Section 5.15 | Compliance with Law | 120 | 122 | ||
Section 5.16 | Intellectual Property | 120 | 122 | ||
Section 5.17 | Use of Proceeds | 120 | 122 | ||
Section 5.18 | Solvency | 121 | 123 | ||
Section 5.19 | Collateral Documents | 121 | 123 | ||
Section 5.20 | Senior Indebtedness | 123 | 125 | ||
Section 5.21 | Anti-Money Laundering and Economic Sanctions Laws | 123 | 125 | ||
Section 5.22 | Anti-Corruption Laws | 124 | 126 | ||
Section 5.23 | No Default | 125 | 127 | ||
Section 5.24 | Labor Relations | 125 | 127 | ||
Section 5.25 | EEA Financial Institutions | 127 |
Section 6.01 | Financial Statements and Other Information | 125 | 127 | ||
Section 6.02 | Notices of Material Events | 126 | 129 | ||
Section 6.03 | Existence; Conduct of Business | 127 | 129 | ||
Section 6.04 | Payment of Obligations | 127 | 129 | ||
Section 6.05 | Maintenance of Properties; Insurance | 127 | 129 |
Section 6.06 | Books and Records; Inspection Rights | 127 | 130 | ||
Section 6.07 | Compliance with Laws | 128 | 130 | ||
Section 6.08 | Use of Proceeds | 128 | 130 | ||
Section 6.09 | Subsidiary Guarantors; Pledges; Additional Collateral; Further Assurances | 128 | 130 | ||
Section 6.10 | Designation of Subsidiaries | 130 | 132 | ||
Section 6.11 | [Reserved] | 131 | 133 | ||
Section 6.12 | Compliance with Environmental Laws | 131 | 133 | ||
Section 6.13 | Post-Closing Collateral Matters | 131 | 133 |
Section 7.01 | Indebtedness | 131 | 133 | ||
Section 7.02 | Liens | 133 | 136 | ||
Section 7.03 | Fundamental Changes and Asset Sales | 136 | 138 | ||
Section 7.04 | Investments, Loans, Advances, Guarantees and Acquisitions | 138 | 140 | ||
Section 7.05 | Transactions with Affiliates | 141 | 143 | ||
Section 7.06 | Restricted Payments | 141 | 144 | ||
Section 7.07 | Restrictive Agreements | 143 | 145 | ||
Section 7.08 | Amendments to Subordinated Indebtedness Documents or Organization Documents; Prepayments of Indebtedness | 144 | 146 | ||
Section 7.09 | Sale/Leaseback Transactions | 144 | 147 | ||
Section 7.10 | Financial Covenants | 144 | 147 |
Section 8.01 | Events of Default | 145 | 147 | ||
Section 8.02 | Acceleration; Remedies | 147 | 149 | ||
Section 8.03 | Allocation of Payments After Event of Default | 148 | 150 |
Section 9.01 | Appointment and Authority | 150 | 152 | ||
Section 9.02 | Rights as a Lender | 151 | 153 | ||
Section 9.03 | Exculpatory Provisions | 151 | 153 | ||
Section 9.04 | Reliance by Agents | 152 | 155 | ||
Section 9.05 | Delegation of Duties | 153 | 155 | ||
Section 9.06 | Indemnification of Agents | 153 | 155 | ||
Section 9.07 | Resignation of Agents | 153 | 156 | ||
Section 9.08 | Non-Reliance on Agents and Other Lenders | 155 | 157 | ||
Section 9.09 | No Other Duties, etc | 155 | 157 | ||
Section 9.10 | Administrative Agent May File Proofs of Claim; Credit Bidding | 155 | 157 | ||
Section 9.11 | Collateral and Guaranty Matters | 156 | 159 | ||
Section 9.12 | Related Obligations | 157 | 160 | ||
Section 9.13 | Withholding Tax | 158 | 160 |
Section 9.14 | Role of the Administrative Agent and Collateral Agent in connection with the | ||||
Italian Collateral Documents. : | 158 | 161 |
Section 10.01 | Amendments, etc | 159 | 161 | ||
Section 10.02 | Notices; Effectiveness; Electronic Communications | 162 | 164 | ||
Section 10.03 | No Waiver; Cumulative Remedies; Enforcement | 165 | 167 | ||
Section 10.04 | Expenses; Indemnity; Damage Waiver | 166 | 168 | ||
Section 10.05 | Payments Set Aside | 168 | 170 | ||
Section 10.06 | Successors and Assigns | 168 | 171 | ||
Section 10.07 | Treatment of Certain Information; Confidentiality | 173 | 176 | ||
Section 10.08 | Right of Setoff | 174 | 177 | ||
Section 10.09 | Interest Rate Limitation | 175 | 177 | ||
Section 10.10 | Counterparts; Integration; Effectiveness | 175 | 177 | ||
Section 10.11 | Survival of Agreement | 175 | 178 | ||
Section 10.12 | Severability | 176 | 178 | ||
Section 10.13 | Governing Law; Jurisdiction; Consent to Service of Process | 176 | 178 | ||
Section 10.14 | PATRIOT Act Notice; Lender’s Compliance Certification | 177 | 179 | ||
Section 10.15 | No Advisory or Fiduciary Responsibility | 177 | 180 | ||
Section 10.16 | Judgment Currency | 178 | 181 | ||
Section 10.17 | Acknowledgment and Consents to Bail-In of EEA Financial Institutions | 181 |
This Credit Agreement, dated June 18, 2015 (as amended by Amendment No. 1, dated July 12, 2016, and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), by and among Jazz Pharmaceuticals Public Limited Company, a public limited company organized under the laws of Ireland (“Parent”), Jazz Securities Limited, a Section 110 company incorporated under the laws of Ireland (the “Lead Borrower”), Jazz Pharmaceuticals, Inc., a Delaware corporation (the “U.S. Borrower”), Jazz Financing I Limited , a company incorporated under the laws of Ireland (“Jazz Financing I”), Jazz Pharmaceuticals Ireland Limited, a company incorporated under the laws of Ireland (“Jazz Ireland”), the Lenders (as hereinafter defined) and Bank of America, N.A., as Administrative Agent, Collateral Agent, Swing Line Lender and L/C Issuer.
Pricing Level | Secured Leverage Ratio | Applicable Commitment Fee Percentage |
I | ≥ 1.50:1.00 | 0.35% |
II | < 1.50:1.00 and ≥ 0.50:1.00 | 0.30% |
III | < 0.50:1.00 | 0.25% |
Pricing Level | Secured Leverage Ratio | Letter of Credit Fee and Applicable Margin for Revolving Loans and Term Loans that are Eurodollar Loans | Applicable Margin for Swing Line Loans, Revolving Loans and Term Loans that are Base Rate Loans |
I | ≥ 2.50:1.00 | 2.25% | 1.25% |
II | < 2.50:1.00 and ≥ 1.50.1.00 | 2.00% | 1.00% |
III | < 1.50:1.00 and ≥ 0.50:1.00 | 1.75% | 0.75% |
IV | < 0.50:1.00 | 1.50% | 0.50% |
“Celator Acquisition” means the acquisition of Celator pursuant to that certain Agreement and Plan of Merger dated May 27, 2016 among Parent, Plex Merger Sub, Inc., a Delaware corporation, and Celator, including the subsequent acquisition of any Equity Interests remaining after the tender offer contemplated thereby.
“Incremental Loans” means, collectively, the Incremental Term Loans and Incremental Revolving Loans.
(x) | is exempted from the charge to Irish income tax pursuant to the terms of a double taxation treaty entered into between Ireland and another jurisdiction that is in force on the date the relevant interest is paid; or |
(y) | would be exempted from the charge to Irish income tax pursuant to the terms of a double taxation treaty entered into between Ireland and another jurisdiction signed on or before the date on which the relevant interest is paid but not in force on that date, assuming that treaty had the force of law on that date; |
“▇▇▇▇▇’▇” means ▇▇▇▇▇’▇ Investors Service, Inc., a Delaware corporation, and its successors or, absent any such successor, such nationally recognized statistical rating organization as the Lead Borrower and the Administrative Agent may select.
“Other Term Loans” means one or more Classes of Term Loans that result from a Refinancing Amendment.
“Transactions” means the events contemplated by the Loan Documents and the Closing Date Refinancing.
“United States Person” means a “United States person” as defined in Section 7701(a)(30) of the Code.
Principal Amortization Payment Date | Amortized Payment of Term Loans | |||
December 2015 | $ 9,375,000.00 | |||
March 2016 | $ 9,375,000.00 | |||
June 2016 | $ 9,375,000.00 | |||
September 2016 | $ 9,375,000.00 | |||
December 2016 | $ | 9,375,000.00 | 9,023,437.50 | |
March 2017 | $ | 9,375,000.00 | 9,023,437.50 | |
June 2017 | $ | 9,375,000.00 | 9,023,437.50 | |
September 2017 | $ | 9,375,000.00 | 9,023,437.50 | |
December 2017 | $ | 14,062,500.00 | 9,023,437.50 | |
March 2018 | $ | 14,062,500.00 | 9,023,437.50 | |
June 2018 | $ | 14,062,500.00 | 9,023,437.50 | |
September 2018 | $ | 14,062,500.00 | 9,023,437.50 | |
December 2018 | $ | 18,750,000.00 | 13,535,156.25 | |
March 2019 | $ | 18,750,000.00 | 13,535,156.25 | |
June 2019 | $ | 18,750,000.00 | 13,535,156.25 | |
September 2019 | $ | 18,750,000.00 | 13,535,156.25 | |
December 2019 | $ | 23,437,500.00 | 18,046,875.00 | |
March 2020 | $ | 23,437,500.00 | 18,046,875.00 | |
June 2020 | $ | 23,437,500.00 | 18,046,875.00 | |
September 2020 | $ 18,046,875.00 | |||
December 2020 | $ 22,558,593.75 | |||
March 2021 | $ 22,558,593.75 | |||
June 2021 | $ 22,558,593.75 |
(j)licenses, sublicenses, leases or subleases granted to other Persons permitted under Section 7.03;
JAZZ PHARMACEUTICALS, INC., as U.S. | ||||
Borrower | ||||
By: | ||||
Name: | ||||
Title: | ||||
SIGNED for and on behalf of | ||||
JAZZ PHARMACEUTICALS PUBLIC | [NAME OF SIGNATORY] | |||
LIMITED COMPANY | ||||
[NAME OF SIGNATORY] | ||||
in the presence of: | ||||
(Witness’ Signature) | ||||
(Witness’ Name) | ||||
(Witness’ Address) | ||||
(Witness’ Occupation) | ||||
SIGNED for and on behalf of | ||||
JAZZ SECURITIES LIMITED | ||||
[NAME OF SIGNATORY] | ||||
in the presence of: | ||||
(Witness’ Signature) | ||||
(Witness’ Name) | ||||
(Witness’ Address) | ||||
(Witness’ Occupation) |
SIGNED for and on behalf of | ||||
JAZZ PHARMACEUTICALS IRELAND LIMITED | ||||
[NAME OF SIGNATORY] | ||||
in the presence of: | ||||
(Witness’ Signature) | ||||
(Witness’ Name) | ||||
(Witness’ Address) | ||||
(Witness’ Occupation) | ||||
SIGNED for and on behalf of | ||||
JAZZ FINANCING I LIMITED | ||||
[NAME OF SIGNATORY] | ||||
in the presence of: | ||||
(Witness’ Signature) | ||||
(Witness’ Name) | ||||
(Witness’ Address) | ||||
(Witness’ Occupation) |
BANK OF AMERICA, N.A., as L/C Issuer and Swing Line Lender | |
By: | |
Name: | |
Title: |
BANK OF AMERICA, N.A., as Administrative Agent and Collateral Agent | |
By: | |
Name: | |
Title: |
, as a Term | ||
Lender | ||
By: | ||
Name: | ||
Title: |
, as a Revolving | ||
Lender | ||
By: | ||
Name: | ||
Title: |