Canadian Pacific Kansas City Ltd 8-K, filed Jun 27, 2024

Canadian Pacific Kansas City Ltd (CP)

8-K 2024-06-27 For: 2024-06-25

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Added on April 11, 2026

About this 8-K

Canadian Pacific Kansas City Ltd filed this 8-K on June 27, 2024, reporting on events of June 25, 2024.

Items reported

Item 1.01: Entered into a material agreement
Item 9.01: Financial statements and exhibits

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, without par value, of Canadian Pacific Kansas City Limited	CP	New York Stock Exchange
Common Shares, without par value, of Canadian Pacific Kansas City Limited	CP	Toronto Stock Exchange
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway Company	CP40	New York Stock Exchange
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway Company	BC87	London Stock Exchange


Exhibit No.		Exhibit Description

Exhibit 10.1		Third Amended and Restated Credit Agreement, dated as of June 25, 2024, among Canadian Pacific Railway Company, as Borrower, Canadian Pacific Kansas City Limited, as Covenantor, Bank of Montreal, as Administrative Agent, and various Lenders party thereto.

Exhibit 104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


Dated: June 27, 2024
	CANADIAN PACIFIC KANSAS CITY LIMITED

	By:	/s/ Nizam Hasham
	Name:	Nizam Hasham
	Title:	Assistant Vice-President, Securities & Assistant Corporate Secretary


		Page

ARTICLE 1 INTERPRETATION
1.1	Defined Terms		1
1.2	Interpretation not Affected by Headings, etc.		30
1.3	Currency		30
1.4	Terms Generally		30
1.5	GAAP and Changes Thereto		30
1.6	Non-Business Days		32
1.7	Rateable Portion of Accommodations		32
1.8	Interest Rates; Benchmark Notification		33
1.9	Incorporation of Schedules		33
1.10	Restatement of Existing Credit Agreement		33

ARTICLE 2 CREDIT FACILITIES
2.1	Availability		34
2.2	Commitment Limits		35
2.3	Use of Proceeds		36
2.4	Mandatory Repayments and Reductions of Commitments		37
2.5	Adjustment for Currency Fluctuations		37
2.6	Optional Reductions of Commitments or Prepayments		38
2.7	Extension of 5 Year Facility		38
2.8	Extension of 2 Year Facility		40
2.9	Fees		42
2.10	Payments under this Agreement		42
2.11	Application of Repayments and Prepayments		43
2.12	Computations of Interest and Fees; Adjustments to Margins		44
2.13	Designation and Redesignation of Designated Subsidiaries		45
2.14	Guarantee by a Designated Subsidiary		46
2.15	Cancellation or Transfer of a Lender’s Commitment		46

ARTICLE 3 ADVANCES
3.1	The Advances		48
3.2	Procedure for Borrowing		49
3.3	Conversions and Rollovers Regarding Advances		49
3.4	Market Disruption Respecting Benchmark Loans		50
3.5	Interest on Advances		52

ARTICLE 4 DOCUMENTARY CREDITS
4.1	Documentary Credits		54
4.2	Issue Notice		54
4.3	Form of Documentary Credits		55
4.4	Administrative Agent to Execute Non-Fronted Documentary Credits as Attorney for Lenders		56
4.5	Procedure for Issuance of Documentary Credits		57
4.6	Contingent Liability of Lenders		58
4.7	Payment of Amounts Drawn Under Documentary Credits		58
4.8	Fees		61
4.9	Obligations Absolute		61
4.10	Indemnification; Nature of Documentary Credit Lender’s Duties		62
4.11	Repayments		63


ARTICLE 5 CONDITIONS OF LENDING
5.1	Conditions Precedent to Closing	64
5.2	Conditions Precedent to Accommodations	64
5.3	Rollovers, Conversions and Renewals	65
5.4	No Waiver	65
5.5	Takeover Notification	66

ARTICLE 6 REPRESENTATIONS AND WARRANTIES
6.1	Representations and Warranties	67
6.2	Survival of Representations and Warranties	70

ARTICLE 7 COVENANTS OF THE COVENANTOR
7.1	Affirmative Covenants	70
7.2	Negative Covenants	72
7.3	Financial Covenant	74

ARTICLE 8 EVENTS OF DEFAULT
8.1	Events of Default	75
8.2	Remedies Upon Default	77

ARTICLE 9 THE ADMINISTRATIVE AGENT AND THE LENDERS
9.1	Appointment and Authority	77
9.2	Rights as a Lender	77
9.3	Exculpatory Provisions	77
9.4	Reliance by Administrative Agent	79
9.5	Indemnification of Administrative Agent	79
9.6	Delegation of Duties	79
9.7	Replacement of Administrative Agent	79
9.8	Non-Reliance on Administrative Agent and Other Lenders	80
9.9	Collective Action of the Lenders	81
9.10	Sharing of Payments by Lenders	81
9.11	Reliance Upon Administrative Agent	82
9.12	The Administrative Agent and Defaulting Lenders	82
9.13	Erroneous Payments	83

ARTICLE 10 GUARANTEE
10.1	Guarantee	86
10.2	Absolute Liability	86
10.3	Remedies	87
10.4	Amount of Guaranteed Obligations	87
10.5	Payment on Demand	87
10.6	Postponement	87
10.7	Suspension of Covenantor Rights	88
10.8	No Prejudice to Lenders or Administrative Agent	88
10.9	Rights of Subrogation	88
10.10	No Set-off	89
10.11	Successors of the Borrowers	89
10.12	Continuing Guarantee	89


10.13	Supplemental Security	89
10.14	Right of Set-off	89
10.15	Interest Act (Canada)	90
10.16	Judgment	90

ARTICLE 11 MISCELLANEOUS
11.1	Amendment and Waiver	91
11.2	Waiver	92
11.3	Evidence of Debt and Accommodation Notices	92
11.4	Notices and Electronic Communications	93
11.5	Confidentiality	94
11.6	Costs, Expenses and Indemnity	95
11.7	Illegality	98
11.8	Taxes	99
11.9	Defaulting Lender	100
11.10	Successors and Assigns	102
11.11	Right of Set-off	104
11.12	Accommodations by Lenders	105
11.13	Judgment Currency	105
11.14	Interest on Accounts	106
11.15	Governing Law	106
11.16	Waiver of Jury Trial	107
11.17	Anti-Money Laundering Legislation	107
11.18	No Fiduciary	107
11.19	Counterparts; Electronic Execution	108
11.20	Further Assurances	108
11.21	Severability	109
11.22	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	109


Schedule 1		Commitments
Schedule 2		Form of Borrowing Notice
Schedule 3		Form of Conversion/Continuance Election Notice
Schedule 4		Form of Issue Notice
Schedule 5		Notice Periods and Amounts
Schedule 6		Applicable Standby Fee and Applicable Margins
Schedule 7		Assignment and Assumption Agreement
Schedule 8		Form of Repayment Notice
Schedule 9		Form of Optional Reduction of Commitment Notice
Schedule 10		Form of Non-Fronted Documentary Credit
Schedule 11		Request for Extension


CANADIAN PACIFIC RAILWAY COMPANY, as Borrower

Per:		/s/ Chris De Bruyn
Name:		Chris De Bruyn
Title:		Vice-President Capital Markets & Treasurer

CANADIAN PACIFIC KANSAS CITY LIMITED, as Covenantor

Per:		/s/ Chris De Bruyn
Name:		Chris De Bruyn
Title:		Vice-President Capital Markets & Treasurer


THE ADMINISTRATIVE AGENT BANK OF MONTREAL

Per:		/s/ Jeffrey Cowan
		Authorized Signatory


Address:		100 King Street West, 4^th Floor Toronto, Ontario M5B 2L7

Attention:		Jeffrey Cowan, Managing Director


THE LENDERS BANK OF MONTREAL

Per:		/s/ Jeffrey Cowan
		Authorized Signing Officer


BANK OF AMERICA, N.A., CANADA BRANCH

Per:		/s/ Adrian Plummer
		Authorized Signing Officer


Address:		Bow Valley Square III, Suite 2620 255 – 5^th Avenue SW Calgary, Alberta T2P 3G6

Facsimile:		(587) 747-0837
Attention:


CANADIAN IMPERIAL BANK OF COMMERCE

Per:		/s/ Stephen Redding
		Stephen Redding, Managing Director

Per:		/s/ Natasha Vujcic
		Natasha Vujcic, Director


Address:		161 Bay Street, 8th Floor Toronto, Ontario M5J 2S8

Facsimile:		(416) 956-3810
Attention:


THE BANK OF NOVA SCOTIA

Per:		/s/ Michael Linder
		Michael Linder, Director

Per:		/s/ Abigail McLatchy
		Abigail McLatchy, Associate


Address:		Corporate Banking - Energy 1700, 225 - 6 Avenue SW Calgary, Alberta T2P 1N2

Facsimile:		(403) 221-6497
Attention:		Director


WELLS FARGO BANK, N.A., CANADIAN BRANCH

Per:		/s/ Marc-Philippe Piche
		Authorized Signing Officer


Address:		22 Adelaide St W Suite 2200 Toronto, Ontario M5H 4E3

Facsimile:		416-607-2907
Attention:		Marc Piche, Managing Director


SUMITOMO MITSUI BANKING CORPORATION, CANADA BRANCH

Per:		/s/ Ming Chang
		Ming Chang


Address:		Suite 1400 Toronto Dominion Centre P.O. Box 172 222 Bay Street Toronto, Ontario M5K 1H6

Facsimile:		(416) 367-3565
Email:smbccb_loanadminsyndication@smbcgroup.com


ROYAL BANK OF CANADA

Per:		/s/ Tim VandeGriend
		Tim VandeGriend
		Authorized Signatory


Address:		3900, 888 – 3^rd Street S.W. Calgary, Alberta T2P 5C5

Facsimile:		(403) 292-3234
Attention:		Tim VandeGriend


BARCLAYS BANK PLC

Per:		/s/ Charlene Saldanha
		Authorized Signing Officer


Address:		745 7^th Avenue, 25^th Floor New York, NY 10019

Facsimile:		n/a
Attention:		Manoj Jain
Email:		manoj.jain@barclays.com


CITIBANK, N.A., Canadian Branch

Per:		/s/ Daljeet Lamba
		Authorized Signing Officer


Address:		123 Front Street West, Suite 1900 Toronto, Ontario M5J 2M3

Facsimile:		(416) 947-2937
Attention:		Managing Director


GOLDMAN SACHS BANK USA

Per:		/s/ Jonathan Dworkin
		Authorized Signing Officer


Address:		200 West Street
		New York, NY 10282

Facsimile:		(917) 977-3966
Attention:		GS Operations


ATB FINANCIAL

Per:		/s/ Maximiliano Herrera
		Authorized Signing Officer

Per:		/s/ Alexandra Wojcik
		Authorized Signing Officer


Address:		600, 585 - 8^th Avenue S.W. Calgary, Alberta T2P 1G1

Attention:		Max Herrera, Director


FÉDÉRATION DES CAISSES DESJARDINS DU QUÉBEC

Per:		/s/ Oliver Sumugod
		Authorized Signing Officer

Per:		/s/ Matt van Remmen
		Authorized Signing Officer


Address:		1170 Peel Street, Suite #300 Montréal, QC H3B 0B1

Attention:		Managing Director, Corporate Banking


U.S. BANK NATIONAL ASSOCIATION

Per:		/s/ Eric M. Herm
		Eric M. Herm, Vice President Authorized Signing Officer


Address:		U.S. Bancorp Center U.S. Bank 800 Nicollet Mall Minneapolis, MN 55402

Facsimile:		(866) 721-7062
Attention:		Syndication Services