Honeywell 2003 Annual Report Download - page 192

financial statements of the Company, assuming that such financial
statements are prepared in accordance with GAAP.
"Convert", "Conversion" and "Converted" each refers to a conversion of
Revolving Credit Advances of one Type into Revolving Credit Advances of the
other Type pursuant to Section 2.09 or 2.12.
"Debt" means, with respect to any Person: (i) indebtedness of such
Person, which is not limited as to recourse to such Person, for borrowed
money (whether by loan or the issuance and sale of debt securities) or for
the deferred (for 90 days or more) purchase or acquisition price of
property or services; (ii) indebtedness or obligations of others which such
Person has assumed or guaranteed; (iii) indebtedness or obligations of
others secured by a lien, charge or encumbrance on property of such Person
whether or not such Person shall have assumed such indebtedness or
obligations; (iv) obligations of such Person in respect of letters of
credit (other than performance letters of credit, except to the extent
backing an obligation of any Person which would be Debt of such Person),
acceptance facilities, or drafts or similar instruments issued or accepted
by banks and other financial institutions for the account of such Person;
and (v) obligations of such Person under leases which are required to be
capitalized on a balance sheet of such Person in accordance with GAAP.
"Default" means any Event of Default or any event that would
constitute an Event of Default but for the requirement that notice be given
or time elapse or both.
"Designated Subsidiary" means any corporate Subsidiary of the Company
designated for borrowing privileges under this Agreement pursuant to
Section 9.07.
"Designation Letter" means, with respect to any Designated Subsidiary,
a letter in the form of Exhibit D hereto signed by such Designated
Subsidiary and the Company.
"Disclosed Litigation" has the meaning specified in Section 3.01(b).
"Dollars" and the "$" sign each mean lawful money of the United States
of America.
"Domestic Lending Office" means, with respect to any Initial Lender,
the office of such Lender specified as its "Domestic Lending Office"
opposite its name on Schedule I hereto and, with respect to any other
Lender, the office of such Lender specified as its "Domestic Lending
Office" in the Assignment and Acceptance pursuant to which it became a
Lender, or such other office of such Lender as such Lender may from time to
time specify to the Company and the Agent.
"Domestic Subsidiary" means any Subsidiary whose operations are
conducted primarily in the United States excluding any Subsidiary whose
assets consist primarily of the stock of Subsidiaries whose operations are
conducted outside the United States of America.
"Effective Date" has the meaning specified in Section 3.01.
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