EVENTS OF DEFAULT 100. SECTION 9.01 Events of Default 100 SECTION 9.02 Remedies upon Event of Default 102 SECTION 9.03 Application of Proceeds 103 TABLE OF CONTENTS (continued) Page ARTICLE X AGENCY; ADMINISTRATION 104 SECTION 10.01 Appointment and Authority 104 SECTION 10.02 Rights as a Lender 105 SECTION 10.03 Default; Collateral 105 SECTION 10.04 Exculpatory Provisions 108 SECTION 10.05 Notice of Default 110 SECTION 10.06 Reliance by Administrative Agent 111 SECTION 10.07 Indemnification of Agent 112 SECTION 10.08 Delegation of Duties 112 SECTION 10.09 Resignation of Administrative Agent 113 SECTION 10.10 Non-Reliance on Administrative Agent and Other Lenders 114 SECTION 10.11 Administrative Agent May File Proofs of Claim 115 SECTION 10.12 Modifications to Article X 115 SECTION 10.13 Environmental Protections of Administrative Agent 116 ARTICLE XI GUARANTEE 116 SECTION 11.01 Guarantee. 116
EVENTS OF DEFAULT 100. (a) The Concessionaire Event of Default… 100 (b) The Concessioning Authority Event of Default… 102 15.2 PARTIES RIGHTS… 103 15.3 CONSULTATION NOTICE 104 15.4 REMEDIAL PROCESS 104 15.5 OBLIGATIONS DURING REMEDIAL PERIOD 105 15.6 REVOCATION OF CONSULTATION NOTICE 105 15.7 TERMINATION DUE TO EVENTS OF DEFAULT 106 15.8 CONCESSIONING AUTHORITY’S RIGHTS OF STEP-IN 106 ARTICLE 16 107 TERMINATION OF THE CONCESSION/AGREEMENT 107 16.1 TERMINATION PROCEDURE 107 16.2 OBLIGATIONS DURING TERMINATION PERIOD 107 16.3 REQUISITION 107 16.4 CONDITION SURVEY 108 16.5 CONSEQUENCES OF TERMINATION 109 ARTICLE 17 111 COMPENSATION 111
EVENTS OF DEFAULT 100. Section 10.2. Overdrawing of New Vehicle Floor Plan Loans 102 Section 10.3. Application of Proceeds from Collateral 102 Article XI THE ADMINISTRATIVE AGENT 104
EVENTS OF DEFAULT 100. Section 8.1 Events of Default 100 Section 8.2 Remedies Upon Event of Default 103 Section 8.3 Application of Funds 103 Article 9. GUARANTEE 104 Section 9.1 Guarantee 104 Section 9.2 Guarantee of Payment 104 Section 9.3 Fraudulent Transfer 104 Section 9.4 Reinstatement 105 Section 9.5 No Discharge or Diminishment of Guarantee 105 Section 9.6 Defenses Waived 105 Section 9.7 Agreement to Pay 106 Section 9.8 Contribution and Subrogation 106 Section 9.9 Subordination 107 Section 9.10 Keepwell 107 Section 9.11 Release of Guarantors 107 Article 10. Miscellaneous 108
EVENTS OF DEFAULT 100. 8.1 Events of Default 100 8.2 Remedies Upon Event of Default 102 8.3 Application of Funds 103 SECTION 9. THE ADMINISTRATIVE AGENT 104 9.1 Appointment and Authority 104 9.2 Delegation of Duties 105 9.3 Exculpatory Provisions 105 9.4 Reliance by Administrative Agent 106 9.5 Notice of Default 106 9.6 Non-Reliance on Administrative Agent and Other Lenders 107 9.7 Indemnification 107 9.8 Agent in Its Individual Capacity 108 9.9 Successor Administrative Agent 108 9.10 Collateral and Guaranty Matters 109 9.11 Administrative Agent May File Proofs of Claim 109 9.12 [Reserved] 110 SECTION 10. MISCELLANEOUS 110 10.1 Amendments and Waivers 110 10.2 Notices 111 10.3 No Waiver; Cumulative Remedies 114 Execution Version 10.4 Survival of Representations and Warranties 114 10.5 Expenses; Indemnity; Damage Waiver 114 10.6 Successors and Assigns; Participations and Assignments 116 10.7 Adjustments; Set-off 120 10.8 Payments Set Aside 121 10.9 Interest Rate Limitation 121 10.10 Counterparts; Electronic Execution of Assignments 121 10.11 Severability 122 10.12 Integration 122 10.13 GOVERNING LAW 122 10.14 Submission to Jurisdiction; Waivers 122 10.15 Acknowledgements 123 10.16 Releases of Guarantees and Liens 123 10.17 Treatment of Certain Information; Confidentiality 123 10.18 Automatic Debits 124 10.19 Patriot Act 125 SCHEDULES Schedule 1.1A: Commitments Schedule 1.1B: Existing Letters of Credit Schedule 2.21: Lender UK Tax Information Schedule 4.4: Governmental Approvals, Consents, Authorizations, Filings and Notices Schedule 4.5: Requirements of Law Schedule 4.13: ERISA Plans Schedule 4.15: Subsidiaries Schedule 4.17: Environmental Matters Schedule 4.19(a): Financing Statements and Other Filings Schedule 4.27: Capitalization EXHIBITS Exhibit A: Form of Guarantee and Collateral Agreement Exhibit B: Form of Compliance Certificate Exhibit C: Form of Secretary’s/Managing Member’s Certificate Exhibit D: Form of Solvency Certificate Exhibit E: Form of Assignment and Assumption Exhibit F-1: Form of Revolving Loan Note Exhibit F-2: Form of Swingline Loan Note Exhibit G: Form of Transaction Report Exhibit H: Form of Perfection Certificate Exhibit I: Form of Notice of Borrowing Exhibits J-1 – J-4: Forms of U.S. Tax Compliance Certificate Exhibit K: Form of Notice of Conversion/Continuation Execution Version CREDIT AGREEMENT THIS CREDIT AGREEMENT (this “Agreement”), dated as of October 29,2012, is entered into by and among K2M HOLDINGS, INC., a Delaware corporation (“Holdings”), K2M,...
EVENTS OF DEFAULT 100. (a) The Concessionaire Event of Default… 100
