eTrade 2005 Annual Report Download - page 479

“
interest
”, in respect of the Notes, unless the context otherwise requires, refers to interest and Additional Interest, if any.
“
Interest Payment Date
” means each June1 and December1 of each year, commencing June1, 2006.
“
Interest Swap Obligations
” means the obligations of any Person pursuant to any arrangement with any other Person, whereby,
directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a floating or a
fixed rate of interest on a stated notional amount in exchange for periodic payments made by such other Person calculated by applying
a fixed or a floating rate of interest on the same notional amount and shall include, without limitation, interest rate swaps, caps, floors,
collars and similar agreements.
“
Investment
” in any Person means any direct or indirect advance, loan or other extension of credit (including, without limitation, by
way of Guarantee or similar arrangement; but excluding Investment Securities, advances to customers or suppliers in the ordinary
course of business that are, in conformity with GAAP, recorded as accounts receivable, prepaid expenses or deposits on the balance
sheet of the Company or its Restricted Subsidiaries and endorsements for collection or deposit arising in the ordinary course of
business) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or
services for the account or use of others), or any purchase or acquisition of Capital Stock, bonds, notes, debentures or other similar
instruments issued by, such Person and shall include (1)the designation of a Restricted Subsidiary as an Unrestricted Subsidiary or as
a Regulated Subsidiary and (2)the retention of the Capital Stock (or any other Investment) by the Company or any of its Restricted
Subsidiaries, of (or in) any Person that has ceased to be a Restricted Subsidiary, including without limitation, by reason of any
transaction permitted by clause (3)or (4)of Section4.06. For purposes of the definition of “Unrestricted Subsidiary” and Section4.04,
(a)the amount of or a reduction in an Investment shall be equal to the fair market value thereof at the time such Investment is made or
reduced and (b)in the event the Company or a Restricted Subsidiary makes an Investment by transferring assets to any Person and as
part of such transaction receives Net Cash Proceeds, the amount of such Investment shall be the fair market value of the assets less
the amount of Net Cash Proceeds so received, provided the Net Cash Proceeds are applied in accordance with clause (A)or (B)of
Section4.11.
“
Investment Grade Status
” shall occur when the Notes receive a rating of “BBB-” or higher from S&P or a rating of “Baa3” or higher
from Moody’s.
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2006. EDGAR Online, Inc.