FairPoint Communications 2004 Annual Report Download - page 356

“Membership Interest” shall not include) more than 65% of the total voting power of all classes of the membership interests of any Foreign LLC (that is an
Exempted Foreign Entity) entitled to vote (with any limited liability company (other than an Excluded Entity) in which any Pledgor owns a membership
interest being herein called a “Pledged LLC”).
“Notes” shall mean all promissory notes at any time issued to, or held by, any Pledgor.
“NSG Pledgor” shall mean each Pledgor which is not a Subsidiary Guarantor.
“Obligations” shall have the meaning provided in Section 1.
“Partnership Interest” shall mean (x) the entire partnership interest (whether general and/or limited partnership interests) at any time owned
by any Pledgor in any partnership (other than (I) an Excluded Entity and (II) a partnership that is not organized under the laws of the United States or any
State or territory thereof (a “Foreign Partnership”)) and (y) with respect to a Foreign Partnership (other than an Excluded Entity), the entire partnership interest
at any time owned by any Pledgor in such Foreign Partnership, provided that such Pledgor shall not be required to pledge hereunder (and the term “Partnership
Interest” shall not include) more than 65% of the total voting power of all classes of partnership interests of any Foreign Partnership (that is an Exempted
Foreign Entity) entitled to vote (with any partnership (other than an Excluded Entity) in which any Pledgor owns a partnership interest being herein called a
“Pledged Partnership”).
“Pledged Membership Interests” shall mean all Membership Interests at any time pledged or required to be pledged hereunder.
“Pledged Notes” shall mean all Notes at any time pledged or required to be pledged hereunder.
“Pledged Partnership Interests” shall mean all Partnership Interests at any time pledged or required to be pledged hereunder.
“Pledged Securities” shall mean all Pledged Stock, Pledged Notes, Pledged Partnership Interests and Pledged Membership Interests.
“Pledged Stock” shall mean all Stock at any time pledged or required to be pledged hereunder.
“Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the UCC.
“Registered Organization” shall have the meaning given such term in Section 9-102(a)(70) of the UCC.
“Secured Debt Agreements” shall have the meaning provided in Section 5.
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