Honeywell 2005 Annual Report Download - page 183

making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make
contributions.
"Multiple Employer Plan" of any Person means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
employees of such Person or any of its ERISA Affiliates and at least one Person other than such Person or any of its ERISA Affiliates or (b) was so
maintained and in respect of which such Person or any of its ERISA Affiliates could have liability under Section 4064 or 4069 of ERISA in the event
such plan has been or were to be terminated.
"Net Tangible Assets of the Company and its Consolidated Subsidiaries", as at any particular date of determination, means the total amount of
assets (less applicable reserves and other properly deductible items) after deducting therefrom (a) all current liabilities (excluding any thereof which
are by their terms extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount
thereof is being computed) and (b) all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangible
assets, as set forth in the most recent balance sheet of the Company and its Consolidated Subsidiaries and computed in accordance with GAAP.
"Note" means a promissory note of any Borrower payable to the order of any Lender, delivered pursuant to a request made under Section 2.17
in substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of such Borrower to such Lender resulting from the Advances
made by such Lender to such Borrower.
"Notice of Borrowing" has the meaning specified in Section 2.02(a).
"Notice of Drawing" has the meaning specified in Section 2.03(a).
"Obligations" has the meaning specified in Section 7.01(b).
"PBGC" means the Pension Benefit Guaranty Corporation (or any successor).
"Person" means an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association, joint
venture, limited liability company or other entity, or a government or any political subdivision or agency thereof.
"Plan" means a Single Employer Plan or a Multiple Employer Plan.
"Prime Rate" means a fluctuating interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the
higher of:
(a) the rate which the principal office of Citibank (or its Affiliate) in Toronto, Ontario announces publicly from time to time as its prime
rate for determining rates of interest on commercial loans in Canadian Dollars made by it in Canada; and
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