Comcast 2010 Annual Report Download - page 214

payables and other similar obligations incurred in the ordinary course of business), (ii) all obligations of such Person which are evidenced by
notes, bonds, debentures or similar instruments, (iii) all obligations of such Person that have been, or should be, in accordance with GAAP,
recorded as capital leases, (iv) all obligations of such Person that have been, or should be, in accordance with GAAP, recorded as a sale-
leaseback transaction or leveraged lease, (v) all obligations of such Person in respect of letters of credit or acceptances issued or created for the
account of such Person, (vi) all liabilities secured by any lien granted on assets or properties of such Person, whether or not the obligations
secured thereby have been assumed, and (vii) all direct or indirect guarantees (including “keep well” arrangements, support agreements and
similar agreements) with respect to Debt of any other Person referred to in clauses (i) through (vi) of such Person; provided , however , that for
the purposes of Sections 4.10(a), 5.02(a)(i), 5.02(a)(iii) and 9.02(c)(ii):
(A) Debt shall not include (1) trade and other ordinary course payables and accrued expenses arising in the ordinary course of
business, (2) deferred compensation, pension and other post-employment benefit liabilities, (3) take or pay obligations arising in the
ordinary course of business, (4) obligations arising under the Credit Agreement, dated as of March 2, 1998 (the “ Lin Credit Agreement
”), between General Electric Capital Corporation and Station Venture Holdings, LLC (the “ LLC ”) (as successor in interest to Lin
Television of Texas, L.P.), so long as the obligations of the Company, NBCU or any of their respective Subsidiaries (other than the LLC or
Station Ventures Holdings, LP or any of their respective Subsidiaries) arising under the Lin Credit Agreement or any related credit support,
risk of loss or similar arrangement constitute NBCU Excluded Liabilities (as defined in the Master Agreement) and (5) non-recourse Debt
under any Factoring Agreement; and
(B) the amount of any Debt described in clause (v), (vi) or (vii) shall only be included to the extent such Debt is consolidated on such
Person’s balance sheet in accordance with GAAP.
“ Default Recovery Activities ” means the exercise of any rights or remedies in connection with any Capital Markets Activities,
Financing, Insurance, Leasing, Other Financial Services Activities or Securities Activities (whether such rights or remedies arise under any
agreement relating to such activity, under applicable Law or otherwise), including any foreclosure, realization or repossession or ownership of
any collateral, business assets or other security for any Financing (including the equity in any entity or business), Insurance or Other Financial
Services Activities or any property subject to Leasing.
“ Depreciation ” means, for each Tax Year, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable
for federal income tax purposes with respect to an asset for such Tax Year, except that if (a)
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