EX-101 INSTANCE DOCUMENT
EX-10.35B 3 l41914exv10w35b.htm EX-10.35B exv10w35b
EXHIBIT 10.35b
COMMITMENT SCHEDULE
Revolving Loan Commitments
| Amount of Revolving | % of Aggregate Revolving | |||||||
| Lender | Loan Commitment | Loan Commitment | ||||||
JPMorgan Chase Bank, National Association | $ | 40,909,090.90 | 23 ###-###-#### | % | ||||
Citibank, N.A. | $ | 25,454,545.45 | 14 ###-###-#### | % | ||||
LaSalle Bank National Association | $ | 25,454,545.45 | 14 ###-###-#### | % | ||||
National City Bank | $ | 25,454,545.45 | 14 ###-###-#### | % | ||||
Charter One N.A. | $ | 15,909,090.91 | 9.090909091 | % | ||||
BMO Capital Markets Financing, Inc. | $ | 15,909,090.91 | 9.090909091 | % | ||||
Allied Irish Banks PLC | $ | 6,818,181.83 | 3 ###-###-#### | % | ||||
Fifth Third Bank | $ | 9,545,454.55 | 5 ###-###-#### | % | ||||
The Huntington National Bank | $ | 9,545,454.55 | 5 ###-###-#### | % | ||||
TOTAL | $ | 175,000,000.00 | 100 | % | ||||
TERM LOAN COMMITMENTS ON FOLLOWING PAGE
Term Loan Commitments
| Amount of Term Loan | % of Aggregate Term | |||||||
| Lender | Commitment | Loan Commitment | ||||||
JPMorgan Chase Bank, National Association | $ | 27,272,727.27 | 27 ###-###-#### | % | ||||
Citibank, N.A. | $ | 14,545,454.55 | 14 ###-###-#### | % | ||||
LaSalle Bank National Association | $ | 14,545,454.55 | 14 ###-###-#### | % | ||||
National City Bank | $ | 14,545,454.55 | 14 ###-###-#### | % | ||||
Charter One N.A. | $ | 9,090,909.09 | 9.090909090 | % | ||||
BMO Capital Markets Financing, Inc. | $ | 9,090,909.09 | 9.090909090 | % | ||||
Fifth Third Bank | $ | 9,545,454.55 | 5 ###-###-#### | % | ||||
The Huntington National Bank | $ | 9,545,454.55 | 5 ###-###-#### | % | ||||
TOTAL | $ | 100,000,000.00 | 100 | % | ||||
PRICING SCHEDULE
| Applicable | Level I | Level II | Level III | Level IV | Level V | Level VI | ||||||||||||||||||
| Margin | Status | Status | Status | Status | Status | Status | ||||||||||||||||||
Eurodollar Rate | 0.75 | % | 0.875 | % | 1.00 | % | 1.25 | % | 1.50 | % | 1.75 | % | ||||||||||||
Floating Rate | 0 | % | 0 | % | 0 | % | 0 | % | 0.25 | % | 0.50 | % | ||||||||||||
| Applicable | ||||||||||||||||||||||||
| Fee | Level I | Level II | Level III | Level IV | Level V | Level VI | ||||||||||||||||||
| Rate | Status | Status | Status | Status | Status | Status | ||||||||||||||||||
Commitment Fee | 0.15 | % | 0.175 | % | 0.20 | % | 0.25 | % | 0.30 | % | 0.35 | % | ||||||||||||
For the purposes of this Schedule, the following terms have the following meanings, subject to the final paragraph of this Schedule:
“Financials” means the annual or quarterly financial statements of the Borrower delivered pursuant to Section 6.1.
“Level I Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is less than 1.00 to 1.00.
“Level II Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is equal to or greater than 1.00 to 1.00 but less than 1.50 to 1.00.
“Level III Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is equal to or greater than 1.50 to 1.00 but less than 2.00 to 1.00.
“Level IV Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00.
“Level V Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is greater than or equal to 2.50 to 1.00 but less than 3.00 to 1.00.
“Level VI Status” exists at any date, if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is greater than or equal to 3.00 to 1.00.
“Status” means either Level I Status, Level II Status, Level III Status, Level IV Status, Level V Status or Level VI Status.
The Applicable Margin and Applicable Fee Rate shall be determined in accordance with foregoing table based on the Borrower’s Status as reflected in the then most recent Financials. Adjustments, if any, to the Applicable Margin or Applicable Fee Rate shall be effective five Business Days after the Administrative Agent has received the applicable Financials. If the Borrower fails to deliver the Financials to the Administrative Agent at the time required pursuant to Section 6.1, then the Applicable Margin and Applicable Fee Rate shall be the highest Applicable Margin and Applicable Fee Rate set forth in the foregoing table until five days after such Financials are so delivered.
Notwithstanding the foregoing, Level II Status shall be in effect until the Administrative Agent receives the Financials for the Borrower’s fiscal quarter ending on June 30, 2007 and adjustments to the Applicable Margin and Applicable Fee Rate shall thereafter be effected in accordance with the preceding paragraph.
CREDIT AGREEMENT SCHEDULES
Schedule 2.20
Existing Letters of Credit
Existing Letters of Credit
| (3) | (5) | |||||||||||||
| (1) | (2) | BANK | (4) | COMPANY/PURPOSE | ||||||||||
| IN U.S. DOLLARS | RATE(c) | (L.C. NUMBER) | IN FAVOR OF | (PERIOD COVERED) | ||||||||||
(1) | $ | 24,269 | 1.000 | % | JP MORGAN CHASE (SLT430047) | LUMBERMENS MUTUAL CASUALTY CO. | CHEMED INSURANCE (3/10/04-10/1/07) | |||||||
(2) | $ | 4,093,000 | 1.000 | % | JP MORGAN CHASE (SLT430046) | NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA | CHEMED INSURANCE (3/10/04-10/1/07) | |||||||
(3) | $ | 25,000 | 1.000 | % | JP MORGAN CHASE (SLT335291) | CITY OF CHICAGO, IL DEPT OF TRANSPORTATION | RRSC STANDBY (10/28/02-12/31/2009) | |||||||
(4) | $ | 5,000 | 1.000 | % | JP MORGAN CHASE (SLT332674) | TOWN OF RIVERHEAD, NY RIVERHEAD SEWER DISTRICT | RRSC STANDBY (8/13/03-7/31/07) | |||||||
(5) | $ | 3,000,000 | (f) | 1.000 | % | JP MORGAN CHASE (SLT334126) | FEDERAL INSURANCE COMPANY CHUBB COMMERCIAL INSURANCE | CHEMED INSURANCE (4/1/03-4/1/08) | ||||||
(6) | $ | 3,529,000 | (a) | 1.000 | % | JP MORGAN CHASE. (SLT430044) | CONTINENTAL CASUALTY TRANSPORTATION INSURANCE CO. | CHEMED INSURANCE (3/10/04-10/1/07) | ||||||
(7) | $ | 13,000,000 | (b) | 1.000 | % | JP MORGAN CHASE. (SLT430109) | ZURICH AMERICAN INSURANCE CO | CHEMED INSURANCE (3/31/04-3/31/08) | ||||||
(8) | $ | 1,647,190 | (e) | 1.000 | % | JP MORGAN CHASE. (SLT430043) | RELIANCE INSURANCE COMPANY | VITAS INSURANCE (3/10/04-10/1/07) | ||||||
(9) | $ | 7,500,000 | (d) | 1.000 | % | JP MORGAN CHASE (SLT430041) | SENTRY INSURANCE | VITAS INSURANCE (3/10/04-10/1/07) | ||||||
(10) | $ | 1,500,000 | 1.000 | % | JP MORGAN CHASE (SLT430042) | SENTRY INSURANCE | VITAS INSURANCE (3/10/04-10/1/07) | |||||||
(11) | $ | 10,000 | 1.000 | % | JP MORGAN CHASE (S-214667) | CITY OF LAKEWOOD, CO DIRECTOR OR PUBLIC WORKS | RRSC STANDBY (11/21/05-11/30/07) | |||||||
| (12) | $ | 34,333,459 | TOTAL LETTERS OF CREDIT | |||||||||||
| (a) | Reduced by $3,985,000 on 2/2/05. Reduced by $1,649,000 on 12/8/05. | |
| (b) | Increased by $4,000,000 on 4/19/05, Increased by $3.0 million on 4/7/06, Increased by $1.0 million on 4/17/07. | |
| (c) | As of 3/8/07 Level Pricing Changed to 1.00% | |
| (d) | Increased by $2,000,000 on 10/18/05. Increased $3.8 million on 7/11/06. | |
| (e) | Increased by $47,190 on 7/11/06. | |
| (f) | Reduced by $1,800,000 on 9/7/06. |
Schedules 5.8 — Subsidiaries
Comfort Care Holdings Co.
Jet Resource, Inc.
Roto-Rooter Corporation
Roto-Rooter Services Company
Nurotoco of Massachusetts, Inc.
Roto-Rooter Group, Inc.
RR UK, Inc.
Roto-Rooter Development Company
Consolidated HVAC, Inc.
Vitas Healthcare Corporation
Vitas Hospice Services, L.L.C.
Vitas Healthcare Corporation of Illinois
Vitas Healthcare Corporation of California
Vitas Healthcare Corporation of Ohio
Vitas Healthcare Corporation of Florida
Vitas Healthcare Corporation of Central Florida
Vitas HME Solutions, Inc.
Vitas Holdings Corporation
Vitas Healthcare of Texas, L.P.
Hospice Care Incorporated
Vitas Healthcare Corporation of Georgia
Vitas Healthcare Corporation of Arizona
Vitas Healthcare Corporation Atlantic
Vitas Healthcare Corporation Midwest
Vitas Care Solutions, Inc.
Jet Resource, Inc.
Roto-Rooter Corporation
Roto-Rooter Services Company
Nurotoco of Massachusetts, Inc.
Roto-Rooter Group, Inc.
RR UK, Inc.
Roto-Rooter Development Company
Consolidated HVAC, Inc.
Vitas Healthcare Corporation
Vitas Hospice Services, L.L.C.
Vitas Healthcare Corporation of Illinois
Vitas Healthcare Corporation of California
Vitas Healthcare Corporation of Ohio
Vitas Healthcare Corporation of Florida
Vitas Healthcare Corporation of Central Florida
Vitas HME Solutions, Inc.
Vitas Holdings Corporation
Vitas Healthcare of Texas, L.P.
Hospice Care Incorporated
Vitas Healthcare Corporation of Georgia
Vitas Healthcare Corporation of Arizona
Vitas Healthcare Corporation Atlantic
Vitas Healthcare Corporation Midwest
Vitas Care Solutions, Inc.
Schedule 6.13
Existing Investments
Existing Investments
| Grantor | Issuer | Type | Amount | |||||||
| (1) | Chemed Corporation | Roto-Rooter Development Company | Intercompany Receivable | $ | 3,761,617 | |||||
| (2) | Chemed Corporation | Roto-Rooter Corporation | Intercompany Receivable | $ | 5,716,700 | |||||
| (3) | Chemed Corporation | Consolidated HVAC, Inc. | Intercompany Receivable | $ | 51,570,376 | |||||
| (4) | Chemed Corporation | Comfort Care Holdings Co. | Intercompany Receivable | $ | 39,721,071 | |||||
| (5) | Chemed Corporation | Jet Resource, Inc. | Intercompany Receivable | $ | 1,193,640 | |||||
| (6) | Chemed Corporation | Comfort Care Holdings Co. | Note Receivable | $ | 312,397,376 | |||||
| (7) | Chemed Corporation | Patient Care, Inc. | Note Receivable | $ | 14,701,379 | |||||
| (8) | Chemed Corporation | Patient Care, Inc. | Warrants | $ | 1,445,000 | |||||
| (9) | Roto-Rooter Services Co. | Various independent contractors (total of 29) | Notes Receivable | $ | 1,802,748 | |||||
| (10) | Roto-Rooter Group Inc. | Roto-Rooter of Canada Ltd. | Intercompany Receivable | $ | 162,331 | |||||
| (11) | Roto-Rooter Services Co. | Roto-Rooter of Canada Ltd. | Intercompany Receivable | $ | 2,633,769 | |||||
| (12) | Various Roto Rooter wholly owned subsidiaries | Complete Plumbing Service Inc. | Intercompany Receivable | $ | 2,264,334 | |||||
Schedule 6.14
Existing Indebtedness
Existing Indebtedness
| Credit Party | Payable to | Amount | ||||
Roto-Rooter Service Company | Wray | $ | 46,665 | |||
Roto-Rooter Service Company | Kissans | $ | 4,579 | |||
Roto-Rooter Service Company | McCoy | $ | 148,753 | |||
Roto-Rooter Service Company | Logar, Inc. | $ | 198,794 | |||
Each of these promissory notes is part of the purchase price for an acquisition of certain assets.
VITAS ENTITIES
None.
Schedule 6.15
Existing Liens; Closing Date Surety Bond Liens
Existing Liens; Closing Date Surety Bond Liens
Debtor Name: Vitas Healthcare of Texas, L.P.
| Filing Date; | ||||||
| Jurisdiction/Filing Office | Thru Date | Number | Secured Party; Collateral | |||
Texas | ||||||
UCC Liens — Secretary of State | 12/03/03 | 04/16/02; 020026788003 | RSCPF Fredricksburg, L.P.; Blanket Lien on all property located in leased premises at 5430 Fredricksburg Road, San Antonio, TX |
Schedule 6.16
Transactions with Affiliates
Transactions with Affiliates
None.
Schedule 6.18
Subsidiary Covenants
Subsidiary Covenants
None.
