Honeywell 2004 Annual Report Download - page 134

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----------------------------------- -------------------------------------
Level 4
-------
Lower than Level 3 but at least 0.380%
BBB+ or Baa1
----------------------------------- -------------------------------------
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 0.080%
or A2
------------------------------------- -----------------------------------
Level 3
-------
Lower than Level 2 but at least A- 0.090%
or A3
------------------------------------- -----------------------------------
Level 4
-------
Lower than Level 3 but at least 0.120%
BBB+ or Baa1
------------------------------------- -----------------------------------
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 0.050%
or A2
------------------------------------ ------------------------------------
Level 3
-------
Lower than Level 2 but at least A- 0.100%
or A3
------------------------------------ ------------------------------------
Level 4
-------
Lower than Level 3 but at least 0.125%
BBB+ or Baa1
------------------------------------ ------------------------------------
3