Best Buy 2003 Annual Report Download - page 89
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personal property, including net costs (income) under interest rate protection
agreements with respect to such amounts, but excluding any portion of such amounts
included in calculating Net Interest Expense of Best Buy Co. for such period, in each
case determined in accordance with US GAAP;
7.42. “Stock” means all shares, options, warrants, equity interests, equity
participations, or other equivalents (regardless of how designated) of or in a
corporation, partnership, limited partnership or equivalent entity whether voting or
nonvoting or participating or non−participating
18
7.43. “Subsidiary” means with respect to any Person, any corporation, partnership,
trust or other Person of which more than 50% of the outstanding capital stock (or
similar interests) having ordinary voting power to elect a majority of the board of
directors of such corporation (or similar governing body) (irrespective of whether or
not, at the time, capital stock of or other similar interests shall or might have voting
power upon the occurrence of any contingency) is at the time directly or indirectly
owned by such Person, by such Person and one or more other Subsidiaries of such
Person;
7.44. “Taxes” includes all present and future taxes, rates, levies or assessments
(ordinary or extraordinary), imposts, stamp taxes, royalties, duties, fees, dues,
deductions, withholdings, sales taxes or charges, added value charges, charges or taxes
on capital or reserves, levied, assessed or imposed by any government or governmental
authority, and any restrictions or conditions resulting in a tax and all penalty, interest
and other payments on or in respect thereof;
7.45. “U.S. Credit Agreement” means the amended and restated credit agreement
dated as of March 21, 2002 by and between Best Buy Co., the lenders from time to time
party thereto and U.S. Bank National Association, as agent for the lenders party
thereto.
7.46. “U.S. Dollar Equivalent” means − at any time on any date in relation to any
amount in a currency other than U.S. Dollars, the amount of U.S. Dollars required for
the Borrower to purchase that amount of such other currency at the spot rate of
exchange quoted by the Bank at or about 10:30 a.m. (local Vancouver time) on such
date, including all premiums and costs of exchange;