Honeywell 2004 Annual Report Download - page 137

"Consolidated" refers to the consolidation of accounts in accordance
with GAAP.
"Consolidated Subsidiary" means, at any time, any Subsidiary the
accounts of which are required at that time to be included on a
Consolidated basis in the Consolidated 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
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