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SMA » Topics » CONSENT TO ACQUISITION AND INCREMENTAL TERM LOANS

This excerpt taken from the SMA 8-K filed Dec 17, 2007.

CONSENT TO ACQUISITION AND INCREMENTAL TERM LOANS

 

Based upon the representations and warranties contained herein and subject to the satisfaction of the conditions precedent set forth in Article VI hereof, the Administrative Agent and the Required Lenders hereby (i) consent to the consummation of the DePuy Acquisition by the Borrower on the terms and conditions set forth in the DePuy Acquisition Documents, (ii) agree that the DePuy Acquisition shall be deemed to be a Permitted Acquisition, (iii) agree that, with respect to the DePuy Acquisition only, except for the requirements set forth in Article VI of

 

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this Amendment, the Borrower shall not have to comply with any requirements in the Credit Agreement for Permitted Acquisitions, and (iv) agree that the Pro Forma Financial Covenant Calculations (as defined below) delivered in connection with the incurrence of the Term A-2 Loans satisfy the requirements set forth in Sections 2.21(a)(iv) and 2.21(e)(i)(B)(y) of the Credit Agreement.

 

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