Arrow Electronics 2013 Annual Report Download - page 115

“Participant Register”: as defined in subsection 15.6(c).
“Payment Office”: (i) for each Type of Committed Rate Loan and each Currency, the Payment Office set forth in respect thereof in
the Administrative Schedule and (ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such Competitive Advance
Loan, the Bank that makes such Competitive Advance Loan and the Administrative Agent.
“Payment Time”: (i) for each Swing Line Loan, Type of Committed Rate Loan and each Currency, the Payment Time set forth in
respect thereof in the Administrative Schedule and (ii) for each Competitive Advance Loan, as agreed by the Borrower that borrows such
Competitive Advance Loan, the Bank that makes such Competitive Advance Loan and the Administrative Agent.
“PBGC”: the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA or any successor
entity.
“Permitted Acquisition”: on any date of determination, the acquisition of all or part of any Person or business unit in any transaction
or series of transactions by the Company or any Subsidiary.
“Permitted Joint Venture”: on any date of determination, a limited-purpose corporation, partnership, limited liability company, joint
venture or other similar legal arrangement (whether created by contract or conducted through a separate legal entity, but excluding any
Subsidiary) now or hereafter formed or invested in by the Company or any of its Subsidiaries with another Person or Persons in order to
conduct a common venture or enterprise with such Person or Persons.
“Permitted Receivables Securitization ”: any transaction involving one or more sales, contributions or other conveyances by the
Company or any Subsidiary of any Receivables to a special purpose entity (which may be a Subsidiary or Affiliate of the Company), which
special purpose entity finances such sales, contributions or other conveyances by in turn conveying an interest in such Receivables to one or
more Receivable Financiers, provided that such transaction shall not involve any recourse to the Company or any Subsidiary (other than
such special purpose entity) for any reason other than (i) repurchases of non-eligible Receivables, (ii) indemnification for losses (including
any adjustments for dilutions), other than credit losses related to the Receivables conveyed in such transaction and (iii) payment of costs,
fees, expenses and indemnities relating to such transaction.
“Permitted Receivables Agreement ”: the Transfer and Administration Agreement, dated as of March 21, 2001, by and among the
Company, Arrow Electronics Funding Corporation, Bank of America, National Association, as the administrative agent for the conduit
investors and the alternate investors, and the other parties party thereto, as the same may have been amended prior to and as in effect on the
Closing Date.
“Person”: an individual, partnership, corporation, business trust, joint stock company, trust, unincorporated association, joint
venture, Governmental Authority or other entity of whatever nature.
“Plan”: at a particular time, any employee benefit plan (within the meaning of Section 3(3) of ERISA) which is covered by
ERISA and in respect of which the Company or a Commonly Controlled Entity is (or, if such plan were terminated at such time, would
under Section 4069 of ERISA be deemed to be) an “employer” (as defined in Section 3(5) of ERISA).
“Pounds”, “Pounds Sterling” and “Sterling”: the lawful currency of the United Kingdom.
“Properties”: as defined in subsection 9.18(a).
“Qualified Credit Facility”: a credit facility (a) providing for one or more Local Currency Banks to make loans denominated in an
Additional Local Currency to a Local Currency Borrower, (b) providing for such loans to bear interest at a rate or rates determined by the
Company and such Local Currency Bank or Local Currency Banks and (c) otherwise conforming to the requirements of Section 6.