Honeywell 2003 Annual Report Download - page 76

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 E 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 Assumption Agreement or 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.
"Eligible Assignee" means (i) a Lender; (ii) an Affiliate of a Lender;
(iii) a commercial bank organized under the laws of the United States, or
any State thereof, and having total assets in excess of $10,000,000,000;
(iv) a savings and loan association or savings bank organized under the
laws of the United States, or any State thereof, and having a net worth of
at least $500,000,000, calculated in accordance with GAAP; (v) a commercial
bank organized under the laws of any other country that is a member of the
Organization for Economic Cooperation and Development or has concluded
special lending arrangements with the International Monetary Fund
associated with its General
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