Best Buy 2003 Annual Report Download - page 88
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7.34. “Measurement Period” means each period of four fiscal quarters ending on the
last day of a fiscal quarter of Best Buy Co.;
7.35. “Net Interest Expense” means for any period of determination, Interest Expense
minus Interest Income.
7.36. “Offer Letter” means the letter from the Bank to the Borrower to which this
Schedule “A” is attached, together with this Schedule “A”, and includes all
amendments, supplements and replacements thereof;
7.37. “Persons” means any individual, partnership, limited partnership, joint venture,
syndicate, sole proprietorship, company or corporation with or without share capital,
unincorporated association, trust, trustee, executor, administrator or other legal
personal representative, regulatory body or agency, government or governmental
agency, authority or entity however designated or constituted;
7.38. “Priority Claims” means the aggregate of any mortgage, security interest,
encumbrance, hypothecation, assignment, Lien or other claim over any item of
Property which, in the opinion of the Bank or its solicitors, rank in priority to any claim
in or to the Property that the Bank may have pursuant to the Loan Documents or
otherwise pursuant to any Government Authority;
7.39. “Property” means all or any undertaking, property and assets of the Borrower
or the Guarantors;
7.40. “Purchase Money Mortgage” means any Lien, including a lease, created, issued
or assumed by the Borrower to secure indebtedness as part of, or issued or incurred to
provide funds to pay and not exceeding 100% of the unpaid purchase price (including
instalment) of any Property, if the Lien is limited to the Property acquired and is
created, issued or assumed substantially concurrently with the acquisition of the
Property or in connection with the refinancing of an existing Purchase Money
Mortgage, if the principal amount has not increased and the Lien continues to be
limited to that Property;
7.41. “Rental and Lease Expense” means for any period of determination, the
aggregate consolidated amount, without duplication of all amounts paid or accrued by
Best Buy Co. or any Subsidiary under all capital leases and other leases of real or