Best Buy 2003 Annual Report Download - page 85
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7.18. “Draft” means a commercial draft of the Bank in a form approved by the Bank
made by the Borrower in accordance with the provisions of the Offer Letter;
7.19. “Earnings Before Interest, Income Taxes, Depreciation and Amortization”
means for any period of determination, the consolidated net income of Best Buy Co. and
its Subsidiaries before deductions for income taxes, Net Interest Expense, depreciation
and amortization, all as determined in accordance with US GAAP, excluding therefrom
(a) non−operating gains (including, without limitation, extraordinary or unusual gains,
gains from discontinuance of operations, gains arising from the sale of assets and other
nonrecurring gains) of Best Buy Co. and its Subsidiaries during the applicable period
and (b) similar non−operating losses (including, without limitation, losses arising from
the sale of assets and other nonrecurring losses) of Best Buy Co. and its Subsidiaries
during such period;
7.20. “Existing Liens” means those Liens described in Schedule “C” attached hereto;
7.21. “Financial Covenants” means any of the financial ratios or calculations to be
made or maintained by the Borrower or the Guarantors pursuant to this Offer Letter,
including without limitation, the calculations and ratios required to be made or
maintained in accordance with paragraphs 12.1.2.5, 12.1.3, 12.1.4 and 12.1.5 of the
Offer Letter;
7.22. “Government Authority” means any government legislature, regulatory
authority, agency, commission, board or court or other law, regulation or rule
15
making entity having or purporting to have jurisdiction on behalf of any nation, state, country or other subdivision;
7.23. “Guarantee” means with respect to any Person at the time of any determination,
without duplication, any obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness of any
other Person (the “primary obligor”) in any manner, whether directly or otherwise: (a)
to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness or to purchase (or to advance or supply funds for the purchase of) any
direct or indirect security therefor, (b) to purchase property, securities, or services for
the purpose of assuring the owner of such Indebtedness of the payment of such
Indebtedness, (c) to maintain working capital, equity capital, or other financial
statement condition of the primary obligor so as to enable the primary obligor to pay