**Exhibit 10.1**
 

 

 

 

 
**CREDIT AGREEMENT

BY AND AMONG

INDIANAPOLIS POWER & LIGHT COMPANY,

THE VARIOUS FINANCIAL INSTITUTIONS

PARTY HERETO,

AND

LASALLE BANK NATIONAL ASSOCIATION,

AS AGENT

DATED AS OF JUNE 14, 2002

ARTICLE I DEFINITIONS ANDACCOUNTING AND OTHER TERMS 1
Section 1.1. Certain Defined Terms 1

Section 1.2. Accounting Terms 8

Section 1.3. Other Terms 8

ARTICLE II AMOUNT AND TERMS OF THE LOANS 8

Section 2.1. Advances 8

(A) Amount 8

(B) Method of Selecting Types and Interest Periods forNew Advances 9

(C) Interest 9

(D) Interest Payments 9

(E) Optional Principal Payments 9

(F) Maturity 10

(G) Reduction or Termination of theCommitments 10

Section 2.2. Notes 10

Section 2.3. Computation of Interest 10

Section 2.4. Making of Payments and Prepayments,Proration and Setoff 10

(A) Making of Payments and Prepayments 10

(B) Setoff 11

(C) Proration of Payments 11

(D) Unconditional Obligations and NoDeductions 11

Section 2.5. Payment on Non-Business Days 11

Section 2.6. Use of Proceeds 11

Section 2.7. Commitment Fee 12

Section 2.8. Reimbursement of Costs 12

Section 2.9. Conversion and Continuation of OutstandingAdvances 12

Section 2.10. Pro Rata Treatment 12

Section 2.11. Telephonic Notices 12

Section 2.12. Lending Installations 13

Section 2.13. Non-Receipt of Funds by the Agent 13

Section 2.14. Certain Conditions 13

ARTICLE III YIELD PROTECTION; TAXES 13

Section 3.1. Yield Protection 13

Section 3.2. Changes in Capital AdequacyRegulations 14

Section 3.3. Availability of Types of Advances 15

Section 3.4. Funding Indemnification 15

Section 3.5. Taxes 15

Section 3.6. Bank Statements; Survival ofIndemnity 17

ARTICLE IV CONDITIONS OF LENDING 17

Section 4.1. Conditions Precedent to allAdvances 17

Section 4.2. Conditions Precedent to InitialAdvance 17

ARTICLE V REPRESENTATIONS AND WARRANTIES 18

Section 5.1. Representations and Warranties ofBorrower 18

(A) Organization and Existence 19

(B) Authorization and Absence of Defaults 19

(C) Acquisition of Consents 19

(D) Validity and Enforceability 19

(E) Financial Information 19

(F) No Litigation 20

(G) Regulation U 20

(H) Absence of Adverse Agreements 20

(I) Taxes 20

(J) Accuracy of Representations and Warranties 21

(K) Investment Company Act 21

(L) Solvency 21

(M) Licenses, Registrations, and Compliance withLaws 21

(N) Principal Place of Business; Books andRecords 22

(O) Title to Assets and Properties 22

(P) Material Adverse Change 22

(Q) Employee Benefit Plans 22

(R) Public Utility Holding Company Act 22

(S) Environmental Matters 22

(T) Pari Passu Indebtedness 23

ARTICLE VI COVENANTS OF BORROWER 24

Section 6.1. Affirmative Covenants of Borrower Other ThanReporting Requirements 24

(A) Payment of Taxes 24

(B) Preservation of Existence 24

(C) Compliance with Laws 24

(D) Visitation Rights 24

(E) Keeping of Records and Books of Account 25

(F) Maintenance of Properties 25

(G) Other Documents 25

(H) Environmental Liability 25

(I) Additional Assurances 26

(J) Purposes 26

(K) ERISA Compliance 26

(L) Insurance 26

Section 6.2. Negative Covenants ofBorrower 26

(A) Liens 26

(B) Assumptions or Guaranties of Indebtedness 28

(C) Dissolution 28

(D) Sale of Assets 28

(E) Change in Nature of Business 29

(F) Sale and Leaseback 29

(G) Sale of Accounts 29

(H) Indebtedness 29

(I) Other Agreements 29

(J) Payment or Prepayment of Other Loans 30

(K) Change of Fiscal Year 30

(L) Subordination of Claims 30

(M) Dividends 30

(N) Capital Expenditures 30

(O) Financial Covenants 30

(P) Affiliates 30

(Q) Investments and Acquisitions 30

(R) Certain Restrictions 31

Section 6.3. Reporting Requirements 31

ARTICLE VII EVENTS OF DEFAULT 33

Section 7.1. Events of Default 33

ARTICLE VIII REMEDIES OF BANKS 35

ARTICLE IX THE AGENT 35

Section 9.1. Appointment; Nature ofRelationship 35

Section 9.2. Powers 35

Section 9.3. General Immunity 36

Section 9.4. No Responsibility for Loans, Recitals,etc 36

Section 9.5. Action on Instructions of Banks 36

Section 9.6. Employment of Agents and Counsel 36

Section 9.7. Reliance on Documents; Counsel 36

Section 9.8. Agent's Reimbursement andIndemnification 37

Section 9.9. Notice of Default 37

Section 9.10. Rights as a Bank 37

Section 9.11. Bank Credit Decision 37

Section 9.12. Successor Agent 38

ARTICLE X MISCELLANEOUS 38

Section 10.1. Consent to Jurisdiction and Service ofProcess 38

Section 10.2. Rights and Remedies Cumulative 39

Section 10.3. Delay or Omission Not Waiver 39

Section 10.4. Amendments 39

Section 10.5. Notices 40

Section 10.6. Costs, Expenses and Taxes;Indemnification 40

Section 10.7. Participations 41

(A) Permitted Participants; Effect 41

(B) Voting Rights 41

(C) Benefit of Certain Provisions 41

Section 10.8. Binding Effect; Assignment 42

Section 10.9. Actual Knowledge 43

Section 10.10. Governing Law 43

Section 10.11. Severability of Provisions 43

Section 10.12. Headings 43

Section 10.13. Counterparts 43

Section 10.14. Nonliability of Banks 43

Section 10.15. Nonreliance 44

Section 10.16. Waiver of Jury Trial 44

EXHIBITS

A. Form of Revolving Note

B. Form of Opinion of Counsel

C. Form of Assignment Agreement

SCHEDULES

I. Banks and Commitments

II. Pricing Schedule

III. Existing Defaults**