Honeywell 2003 Annual Report Download - page 189
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------------------------------------------------------
Level 5
Lower than Level 4 0.600%
------------------------------------------------------
"Applicable Percentage" means, as of any date, a percentage per annum
determined by reference to the Public Debt Rating in effect on such date as
set forth below:
--------------------------------------
Public Debt Rating Applicable
S&P/Moody's Percentage
--------------------------------------
Level 1
A+ or A1 or above 0.070%
--------------------------------------
Level 2
Lower than Level 1 but at
least A or A2 0.080%
--------------------------------------
Level 3
Lower than Level 2 but at
least A- or A3 0.090%
--------------------------------------
Level 4
Lower than Level 3 but at
least BBB+ or Baa1 0.120%
--------------------------------------
Level 5
Lower than Level 4 0.150%
--------------------------------------
"Applicable Utilization Fee" means, as of any date that the sum of the
aggregate principal amount of the Advances plus the aggregate Available
Amount of the Letters of Credit exceeds 50% of the aggregate Revolving
Credit Commitments, a percentage per annum determined by reference to the
Public Debt Rating in effect on such date as set forth below:
-------------------------------------------
Public Debt Rating Applicable
S&P/Moody's Utilization Fee
-------------------------------------------
Level 1
A+ or A1 or above 0.050%
-------------------------------------------
Level 2
Lower than Level 1 but at
least A or A2 0.050%
-------------------------------------------
Level 3
Lower than Level 2 but at
least A- or A3 0.100%
-------------------------------------------
Level 4
Lower than Level 3 but at
least BBB+ or Baa1 0.125%
-------------------------------------------
Level 5
Lower than Level 4 0.125%
-------------------------------------------
3