Arrow Electronics 2013 Annual Report Download - page 112

(3) solely with respect to Committed Rate Loans, any Interest Period that begins on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period)
shall end on the last Business Day of a calendar month.
“Interest Rate Agreement”: any interest rate protection agreement, interest rate future, interest rate option, interest rate swap, interest
rate cap or other interest rate hedge or arrangement under which the Company is a party or a beneficiary.
“IRS”: as defined in subsection 8.6.
“Issuing Bank”: in respect of any Currency, each Bank listed as an Issuing Bank in Schedule III in respect of such Currency.
“Issuing Office”: in respect of each Issuing Bank, the Issuing Office set forth for such Issuing Bank in Schedule III.
“Joinder Agreement”: each Joinder Agreement, substantially in the form of Exhibit A, from time to time executed and delivered
hereunder pursuant to subsection 15.1 (b).
“L/C Commitment”: the Dollar Equivalent Amount of $200,000,000.
“L/C Exposure”: at any time, the total L/C Obligations. The L/C Exposure of any Bank at any time shall be its Revolving
Commitment Percentage of the total L/C Exposure at such time.
“L/C Obligations”: at any time, an amount equal to the sum of the Dollar Equivalent Amount of (a) the aggregate then undrawn and
unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit which have not
then been reimbursed pursuant to subsection 5.5(a).
“L/C Participant”: in respect of each Letter of Credit, each Bank (other than the Issuing Bank in respect of such Letter of Credit) in
its capacity as the holder of a participating interest in such Letter of Credit.
“Letters of Credit”: as defined in subsection 5.1(b).
“Lien”: any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or
other security interest or any preference, priority or other security agreement of any kind or nature whatsoever (including, without limitation,
any conditional sale or other title retention agreement and any Financing Lease having substantially the same economic effect as any of the
foregoing).
“Liquidity”: the sum of (a) cash and cash equivalents and short-term investments convertible into cash within sixty (60) days held
by the Company and its Subsidiaries, plus (b) so long as the Company is able to satisfy the conditions to borrowing set forth in subsection
10.2 (including, but not limited to, compliance with the financial covenants pursuant to subsection 12.1), the aggregate amount of Undrawn
Revolving Commitments, plus (c) any amount then available to the Company or its Subsidiaries under any Permitted Receivables
Securitization or other legally committed credit facilities ( provided that, in the case of this clause (c), the Company or the applicable
Subsidiary is able to satisfy all conditions to the availability of such financing).
“Loan”: any Committed Rate Loan, Competitive Advance Loan, Swing Line Loan or Local Currency Loan.
“Loan Party”: the Company and each Subsidiary of the Company which is a party to a Credit Document.
“Local Currency Bank”: any Bank (or, if applicable, any affiliate, branch or agency thereof) party to a Local Currency Facility.