Nautilus 2001 Annual Report Download - page 71

of trust, assignment, pledge, chattel mortgage, chattel trust, factor's lien, equipment trust, conditional sale, trust receipt, lien, charge, lien or title
retention contract, lease or consignment intended as a security device, or any other security or lien interest whatsoever, whether created by law,
contract, or otherwise.
DEBT. The word "Debt" means all of Borrower's liabilities excluding Subordinated Debt.
ERISA. The word "ERISA" means the Employee Retirement Income Security Act of 1974, as amended.
EVENT OF DEFAULT. The words "Event of Default" mean and include without limitation any of the Events of Default set forth below in the
section titled "EVENTS OF DEFAULT."
GRANTOR. The word "Grantor" means and includes without limitation each and all of the persons or entities granting a Security Interest in
any Collateral for the Indebtedness, including without limitation all Borrowers granting such a Security Interest.
GUARANTOR. The word "Guarantor" means and includes without imitation each and all of the guarantors, sureties, and accommodation
parties in connection with any Indebtedness.
INDEBTEDNESS. The word "Indebtedness" means and includes without limitation all Loans, together with all other obligations, debts and
liabilities of Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower, or any one or more of them;
whether now or hereafter existing, voluntary or involuntary, due or not due, absolute or contingent, liquidated or unliquidated; whether
Borrower may be liable individually or jointly with others; whether Borrower may be obligated as a Guarantor, surety, or otherwise; whether
recovery upon such Indebtedness may be or hereafter may become barred by any statue of limitations; and whether such Indebtedness may be
or hereafter may become otherwise unenforceable.
LENDER. The word "Lender" means U.S. Bank National Association, its successors and assigns.
LIQUID ASSETS. The words "Liquid Assets" mean Borrower's cash on hand plus Borrower's readily marketable securities.
LOAN. The word "Loan" or "Loans" means and includes without limitation any and all commercial loans and financial accommodations from
Lender to Borrower, whether nor or hereafter existing, and however evidenced, including without limitation those loans and financial
accommodations described here in or described on any exhibit or schedule attached to this Agreement from time to time.
NOTE. The word "Note" means and includes without limitation Borrower's promissory note or notes, if any, evidencing Borrower's Loan
obligations in favor of Lender, as well as any substitute, replacement or refinancing note or notes therefore.
PERMITTED LIENS. The words "Permitted Liens" mean; (a) liens and security interests securing Indebtedness owed by Borrower to lender;
(b) liens for taxes, assessments, or similar charges either not yet due or being contested in good faith; (c) liens of materialmen, mechanics,
warehousemen, or carriers, or other like liens arising in the ordinary course of business and security obligations which are not yet delinquent;
(d) purchase money liens or purchase money security interests upon or in any property acquired or held by Borrower in the ordinary course of
business to security Indebtedness outstanding on the date of this Agreement or permitted to be incurred under the paragraph of this agreement
titled "Indebtedness and Liens"; (e) liens and security interests which, as of the date of this Agreement, have been disclosed to and approved by
the Lender in writing; and (f) those liens and security interests which in the aggregate constitute an immaterial and insignificant monetary
amount with respect to the net value of Borrower's assets.
RELATED DOCUMENTS. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
agreements, environmental agreements, guaranties, security agreements,
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