US$10,000,000.00
REVOLVING AND TERM
CREDIT FACILITY
CREDIT AGREEMENT
BY
AND
BETWEEN
INTERNATIONAL RECTIFIER CORPORATION
AND
THE DAI-ICHI KANGYO BANK, LTD
LOS ANGELES AGENCY
SEPTEMBER 26, 1997
TABLE OF CONTENTS
PAGE
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ARTICLE I
DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
1.1 Defined Terms . . . . . . . . . . . . . . . . . . . . . . . . . 1
1.2 General Terms . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3 Accounting Terms. . . . . . . . . . . . . . . . . . . . . . . . 6
ARTICLE II
THE LOAN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
2.1 The Revolving Line of Credit . . . . . . . . . . . . . . . . . 6
2.2 Conversion to Term Loan . . . . . . . . . . . . . . . . . . . . 7
2.3 Extension of Commitment Termination Date and Maturity Date. . . 7
2.4 Disbursements . . . . . . . . . . . . . . . . . . . . . . . . . 7
2.5 The Note. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2.6 Repayment of Principal. . . . . . . . . . . . . . . . . . . . . 8
2.7 Interest Rate and Payment of Interest . . . . . . . . . . . . . 8
2.8 The Commitment Fee. . . . . . . . . . . . . . . . . . . . . . . 11
2.9 Prepayments and Reduction of the Commitment . . . . . . . . . . 11
2.10 Payments to the Bank. . . . . . . . . . . . . . . . . . . . . . 12
2.11 Change in Circumstances . . . . . . . . . . . . . . . . . . . . 12
2.12 Change in Legality. . . . . . . . . . . . . . . . . . . . . . . 13
2.13 Indemnity . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
2.14 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
ARTICLE III
CONDITIONS PRECEDENT. . . . . . . . . . . . . . . . . .