Kodak 2011 Annual Report Download - page 156

payment obligations of other Persons whose financial statements are not Consolidated with those of such Person (collectively,
“
Guaranteed Debt ”)
guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such Person
through an agreement (1) to pay or purchase such Guaranteed Debt or to advance or supply funds for the payment or purchase of such Guaranteed
Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell services, expressly for the purpose of enabling the debtor to
make payment of such Guaranteed Debt or to assure the holder of such Guaranteed Debt against loss, (3) to supply funds to or in any other manner
invest in the debtor (including any agreement to pay for property or services irrespective of whether such property is received or such services are
rendered) or (4) otherwise to assure a creditor of such other Person against loss, and (i) all Debt of the type referred to in clauses (a) through
(h) above secured by (or for which the holder of such Debt has an existing right to be secured by) any Lien on property (including, without
limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of
such Debt.
“ Debt for Borrowed Money ”
of any Person means all items that, in accordance with GAAP, would be classified as short term
borrowings and long term debt on a Consolidated statement of financial position of such Person.
“ Debtors ” has the meaning specified in the Introductory Statement.
“ 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.
“ Default Interest ” has the meaning specified in Section 2.07(b) .
“ Defaulted Amount ”
means, with respect to any Lender at any time, any amount required to be paid by such Lender to the Agent or any
other Lender hereunder or under any other Loan Document at or prior to such time which has not been so paid as of such time, including, without
limitation, any amount required to be paid by such Lender to (a) any Issuing Bank pursuant to Section 2.03(b)
to purchase a participation in a
Letter of Credit, (b) the Agent pursuant to Section 2.02(d)
to reimburse the Agent for the amount of any Revolving Loan made by the Agent for the
account of such Lender, (c) any other Lender pursuant to Section 2.15
to purchase any participation in Revolving Loans owing to such other
Lender and (d) the Agent or any Issuing Bank pursuant to Section 7.05 to reimburse the Agent or such Issuing Bank for such Lender’
s ratable
share of any amount required to be paid by the Lenders to the Agent or such Issuing Bank as provided therein. In the event that a portion of a
Defaulted Amount shall be deemed paid pursuant to Section 2.19(b)
, the remaining portion of such Defaulted Amount shall be considered a
Defaulted Amount originally required to be paid hereunder or under any other Loan Document on the same date as the Defaulted Amount so
deemed paid in part.
“ Defaulted Loan ”
means, with respect to any Lender at any time, the portion of any Loan required to be made by such Lender to a
Borrower pursuant to Section 2.01 or 2.02
at or prior to such time which has not been made by such Lender or by the Agent for the account of such
Lender pursuant to Section 2.02(d)
as of such time. In the event that a portion of a Defaulted Revolving Loan shall be deemed made pursuant to
Section 2.19(a)
, the remaining portion of such Defaulted Revolving Loan shall be considered a Defaulted Revolving Loan originally required to
be made pursuant to Section 2.01 on the same date as the Defaulted Revolving Loan so deemed made in part.
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