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These excerpts taken from the EBAY 10-K filed Feb 17, 2010. Credit Agreement In August 2007, we entered into an amendment to our 2006 credit agreement. The amendment agreement increased the lender commitments and borrowing capacity under the 2006 credit agreement from its prior level of $1.0 billion to $2.0 billion, maintained an option to increase borrowing capacity by an additional $1.0 billion (after giving effect to the $1.0 billion increase described above) and extended the maturity date by an additional year to November 7, 2012. Lehman Brothers Commercial Bank was a participating lender in our $2.0 billion credit agreement. As a result of the bankruptcy of its parent company, our available line of credit has been effectively reduced by its commitment of $160.0 million. As of December 31, 2009, $1.8 billion was available under the credit agreement. Loans under the credit agreement will bear interest at LIBOR plus a margin ranging from 0.20 percent to 0.50 percent. Subject to certain conditions stated in the credit agreement, we may borrow, prepay and reborrow
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Table of Contentsamounts under the credit agreement at any time during the term of the credit agreement. Funds borrowed under the credit agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes. The credit agreement contains customary representations, warranties, affirmative and negative covenants, including a financial covenant, and events of default. The negative covenants include restrictions regarding the incurrence of additional indebtedness and liens, and the entry into certain agreements that restrict the ability of our subsidiaries to provide credit support. The financial covenant requires us to meet a quarterly financial test with respect to a maximum consolidated leverage ratio. As of December 31, 2009, we were in compliance with the financial covenants in the credit agreement. Credit Agreement We have entered into a credit agreement that provides for an unsecured $1.8 billion revolving credit facility which matures on November 7, 2012. Loans under the credit agreement will bear interest at LIBOR plus a margin ranging from 0.20 percent to 0.50 percent. Subject to certain conditions stated in the credit agreement, we may borrow, prepay and reborrow amounts under the credit agreement at any time during the term of the credit agreement. Funds borrowed under the credit agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes. The credit agreement contains customary representations, warranties, affirmative and negative covenants, including a financial covenant and events of default. The negative covenants include restrictions regarding the incurrence of additional indebtedness and liens, and the entry into certain agreements that restrict the ability of our subsidiaries to provide credit support. The financial covenant requires us to meet a quarterly financial test with respect to a maximum consolidated leverage ratio. As of December 31, 2009, there were no amounts outstanding under the credit agreement and we were in compliance with the financial covenants in the credit agreement. These excerpts taken from the EBAY 10-Q filed Apr 28, 2009. Credit Agreement As of March 31, 2009, we had $400.0 million outstanding and $1.4 billion available under our credit agreement. The interest rate at March 31, 2009 was 2.40%. As of March 31, 2009, we were in compliance with the financial covenants associated with the credit agreement. Lehman Brothers Commercial Bank was a participating lender in our $2.0 billion credit agreement. As a result of the bankruptcy of its parent company, the availability under our credit agreement was effectively reduced by Lehman’s commitment of $160.0 million. Credit Agreement As of March 31, 2009, $400.0 million was outstanding and $1.4 billion was available under our credit agreement. These excerpts taken from the EBAY 10-K filed Feb 20, 2009. Credit
Agreement
In August 2007, we entered into an amendment to our 2006 credit
agreement. The amendment agreement increased the lender
commitments and borrowing capacity under the 2006 credit
agreement from its prior level of $1.0 billion to
$2.0 billion, maintained an option to increase borrowing
capacity by an additional $1.0 billion (after giving effect
to the $1.0 billion increase described above) and extended
the maturity date by an additional year to November 7,
2012. Lehman Brothers Commercial Bank was a participating lender
in our $2.0 billion credit agreement. As a result of the
bankruptcy of its parent company, our available line of credit
has been effectively reduced by its commitment of
$160.0 million. As of December 31, 2008,
$1.0 billion was outstanding and $840.0 million was
available under the credit agreement.
Credit Agreement In August 2007, we entered into an amendment to our 2006 credit agreement. The amendment agreement increased the lender commitments and borrowing capacity under the 2006 credit agreement from its prior level of $1.0 billion to $2.0 billion, maintained an option to increase borrowing capacity by an additional $1.0 billion (after giving effect to the $1.0 billion increase described above) and extended the maturity date by an additional year to November 7, 2012. Lehman Brothers Commercial Bank was a participating lender in our $2.0 billion credit agreement. As a result of the bankruptcy of its parent company, our available line of credit has been effectively reduced by its commitment of $160.0 million. As of December 31, 2008, $1.0 billion was outstanding and $840.0 million was available under the credit agreement. Credit
Agreement
In November 2006, we entered into a credit agreement which
provided for an unsecured $1.0 billion five-year revolving
credit facility. Loans under the credit agreement bore interest
at either (i) LIBOR plus a margin ranging from
0.25 percent to 0.45 percent or (ii) a formula
based on the Bank of America, or Agent’s, prime rate or on
the federal funds effective rate.
In August 2007, we entered into an amendment to our 2006 credit
agreement. The amendment agreement increased the lender
commitments and borrowing capacity under the 2006 credit
agreement from its prior level of $1.0 billion to
$2.0 billion, maintained an option to increase borrowing
capacity by an additional $1.0 billion (after giving effect
to the $1.0 billion increase described above) and extended
the maturity date by an additional year to November 7,
2012. Lehman Brothers Commercial Bank was a participating lender
in our $2.0 billion credit agreement. As a result of the
bankruptcy of its parent company, our available line of credit
has been effectively reduced by its commitment of
$160 million. Loans under the amended credit agreement will
bear interest at LIBOR plus a margin ranging from
0.20 percent to 0.50 percent. Subject to certain
conditions stated in the credit agreement, we may borrow, prepay
and reborrow amounts under the credit facility at any time
during the term of the credit agreement. Funds borrowed under
the credit agreement may be used for working capital, capital
expenditures, acquisitions and other general corporate purposes
of eBay and its subsidiaries. The credit agreement contains
customary representations, warranties, affirmative and negative
covenants, including a financial covenant and events of default.
The negative covenants include restrictions regarding the
incurrence of additional indebtedness and liens, and the entry
into certain agreements that restrict the ability of our
subsidiaries to provide credit support. The financial covenant
requires us to meet a quarterly financial test with respect to a
maximum consolidated leverage ratio.
As of December 31, 2008, we had $1.0 billion
outstanding under our credit agreement. This amount was
classified as a current liability included in our consolidated
balance sheet. The interest rate at December 31, 2008 was
1.67%. As of December 31, 2008, we were in compliance with
the financial covenants associated with the credit agreement.
Credit Agreement In November 2006, we entered into a credit agreement which provided for an unsecured $1.0 billion five-year revolving credit facility. Loans under the credit agreement bore interest at either (i) LIBOR plus a margin ranging from 0.25 percent to 0.45 percent or (ii) a formula based on the Bank of America, or Agent’s, prime rate or on the federal funds effective rate. In August 2007, we entered into an amendment to our 2006 credit agreement. The amendment agreement increased the lender commitments and borrowing capacity under the 2006 credit agreement from its prior level of $1.0 billion to $2.0 billion, maintained an option to increase borrowing capacity by an additional $1.0 billion (after giving effect to the $1.0 billion increase described above) and extended the maturity date by an additional year to November 7, 2012. Lehman Brothers Commercial Bank was a participating lender in our $2.0 billion credit agreement. As a result of the bankruptcy of its parent company, our available line of credit has been effectively reduced by its commitment of $160 million. Loans under the amended credit agreement will bear interest at LIBOR plus a margin ranging from 0.20 percent to 0.50 percent. Subject to certain conditions stated in the credit agreement, we may borrow, prepay and reborrow amounts under the credit facility at any time during the term of the credit agreement. Funds borrowed under the credit agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes of eBay and its subsidiaries. The credit agreement contains customary representations, warranties, affirmative and negative covenants, including a financial covenant and events of default. The negative covenants include restrictions regarding the incurrence of additional indebtedness and liens, and the entry into certain agreements that restrict the ability of our subsidiaries to provide credit support. The financial covenant requires us to meet a quarterly financial test with respect to a maximum consolidated leverage ratio. As of December 31, 2008, we had $1.0 billion outstanding under our credit agreement. This amount was classified as a current liability included in our consolidated balance sheet. The interest rate at December 31, 2008 was 1.67%. As of December 31, 2008, we were in compliance with the financial covenants associated with the credit agreement. This excerpt taken from the EBAY 10-Q filed Oct 23, 2008. Credit
Agreement
Lehman Brothers Commercial Bank was a participating lender in
our $2.0 billion credit agreement. As a result of the
bankruptcy of its parent company, our available line of credit
has been reduced by its commitment of $160 million. As of
September 30, 2008, we had no outstanding borrowings under
our credit agreement of $1.8 billion. As of
September 30, 2008, we were in compliance with the
financial covenants associated with the
Table of Contents
credit agreement. On October 16, 2008, we drew down an
aggregate amount of $1.0 billion under our revolving credit
facility pursuant to the Credit Agreement. We expect that the
funds will be used for general corporate purposes, including
financing the acquisition of Bill Me Later, Inc. and its
associated receivables. Additionally, we are not aware of any
lack of access to the remaining $840M under the line of credit;
however, we can provide no assurance that access to the
remaining available line of credit will not be impacted by
adverse conditions in the financial markets. Our line of credit
is not reliant upon a single bank.
This excerpt taken from the EBAY 10-Q filed Jul 24, 2008. Credit
Agreement
As of June 30, 2008, we had no outstanding borrowings under
our $2.0 billion credit agreement. As of June 30,
2008, we were in compliance with the financial covenants
associated with the credit agreement.
This excerpt taken from the EBAY 10-Q filed Apr 24, 2008. Credit
Agreement
As of March 31, 2008, we had no outstanding borrowings
under our $2.0 billion credit agreement. As of
March 31, 2008, we were in compliance with the financial
covenants associated with the credit agreement.
This excerpt taken from the EBAY 10-Q filed Apr 24, 2008. Credit
Agreement
As of March 31, 2008, we had no outstanding borrowings
under our $2.0 billion credit agreement. As of
March 31, 2008, we were in compliance with the financial
covenants associated with the credit agreement.
These excerpts taken from the EBAY 10-K filed Feb 29, 2008. Credit
Agreement
In November 2006, we entered into a credit agreement which
provided for an unsecured $1.0 billion five-year revolving
credit facility. Loans under the credit agreement bore interest
at either (i) LIBOR plus a margin ranging from
0.25 percent to 0.45 percent or (ii) a formula
based on the Bank of America, or Agent’s, prime rate or on
the federal funds effective rate.
In August 2007, we entered into an amendment to our 2006 credit
agreement. The amendment increased the lender commitments and
borrowing capacity under the 2006 credit agreement from its
prior level of $1.0 billion to $2.0 billion,
maintained an option to increase borrowing capacity by an
additional $1.0 billion (after giving effect to the
$1.0 billion increase described above) and extended the
maturity date by an additional year to November 7, 2012.
Loans under the amended credit agreement will bear interest at
LIBOR plus a margin ranging from 0.20 percent to
0.50 percent. Subject to certain conditions stated in the
credit agreement, we may borrow, prepay and reborrow amounts
under the credit facility at any time during the term of the
credit agreement. Funds borrowed
Table of Contents
eBay Inc.
NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
under the credit agreement may be used for working capital,
capital expenditures, acquisitions and other general corporate
purposes of eBay and its subsidiaries. We entered into the 2006
credit agreement in order to enhance our financial flexibility.
As of December 31, 2007, we had $200.2 million
outstanding under our credit agreement and these amounts were
included within accrued expenses and other current liabilities
on the consolidated balance sheet. The interest rate as of
December 31, 2007 was 5.06%. As of December 31, 2007,
we were in compliance with the financial covenants associated
with the credit agreement.
Credit Agreement In November 2006, we entered into a credit agreement which provided for an unsecured $1.0 billion five-year revolving credit facility. Loans under the credit agreement bore interest at either (i) LIBOR plus a margin ranging from 0.25 percent to 0.45 percent or (ii) a formula based on the Bank of America, or Agent’s, prime rate or on the federal funds effective rate. In August 2007, we entered into an amendment to our 2006 credit agreement. The amendment increased the lender commitments and borrowing capacity under the 2006 credit agreement from its prior level of $1.0 billion to $2.0 billion, maintained an option to increase borrowing capacity by an additional $1.0 billion (after giving effect to the $1.0 billion increase described above) and extended the maturity date by an additional year to November 7, 2012. Loans under the amended credit agreement will bear interest at LIBOR plus a margin ranging from 0.20 percent to 0.50 percent. Subject to certain conditions stated in the credit agreement, we may borrow, prepay and reborrow amounts under the credit facility at any time during the term of the credit agreement. Funds borrowed
Table of ContentseBay Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) under the credit agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes of eBay and its subsidiaries. We entered into the 2006 credit agreement in order to enhance our financial flexibility. As of December 31, 2007, we had $200.2 million outstanding under our credit agreement and these amounts were included within accrued expenses and other current liabilities on the consolidated balance sheet. The interest rate as of December 31, 2007 was 5.06%. As of December 31, 2007, we were in compliance with the financial covenants associated with the credit agreement. This excerpt taken from the EBAY 10-Q filed Oct 29, 2007. Credit
Agreement
In August 2007, we entered into an amendment to our 2006 Credit
Agreement. The amendment increased the lender commitments and
borrowing capacity under the Credit Agreement from its prior
level of $1.0 billion to $2.0 billion, maintained an
option to increase borrowing capacity by an additional
$1.0 billion (after giving effect to the $1.0 billion
increase described above) and extended the maturity date by an
additional year to November 7, 2012.
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