Section 2.02(c) as of such time. In the event that a portion of a Defaulted Advance shall be deemed made pursuant to
Section 2.16, the remaining portion of such Defaulted Advance shall be
considered a Defaulted Advance originally required to be made pursuant to Sections 2.01 and 2.02 on the same date as the
Defaulted Advance so deemed made in part.
"Defaulting Lender" means, at any time, any Lender that at such time owes a Defaulted Advance.
"Designated Subsidiary" means any Substantially Owned Subsidiary designated after the date of this Agreement for
borrowing privileges hereunder pursuant to Section 9.08.
"Designation Letter" means a letter entered into by a Designated Subsidiary, the Company and the Administrative
Agent, in substantially the form of Exhibit F hereto, pursuant to which such Designated Subsidiary shall become a Borrower
hereunder in accordance with Section 9.08.
"EBITDA" means, for any period, (a) earnings before income taxes for such period as set forth on the consolidated
statements of earnings of the Company and its Subsidiaries for such period less (or plus) (b) other income (or expense) of the
Company and its Subsidiaries for such period to the extent included in earnings before income taxes plus (c) Consolidated
Net Interest Expense for such period plus (d) all charges for depreciation and amortization for such period as set forth in the
consolidated statements of cash flows of the Company and its Subsidiaries for such period; provided, however, that, for
purposes of calculating EBITDA for any period, Consolidated Net Interest Expense for that period will be included without
giving effect to the proviso at the end of the definition of "Consolidated Net Interest Expense".
"Effective Date" has the meaning specified in Section 3.01.
"Eligible Assignee" means (a) a Lender, (b) an Affiliate of a Lender or (c) any other Person approved by the
Administrative Agent, each Issuing Bank and, unless an Event of Default has occurred and is continuing, the Company, such
approval not to be unreasonably withheld or delayed; provided, however, that neither the Company nor an Affiliate of the
Company shall qualify as an Eligible Assignee.
"Environmental Action" means any suit, demand, demand letter, claim, notice of noncompliance or violation, notice
of liability or potential liability, proceeding, consent order or consent agreement relating in any way to any Environmental
Law, any Environmental Permit or any Hazardous Materials or arising from alleged injury or threat of injury to health, safety
or the environment, including, without limitation, (a) by any Governmental Authority for enforcement, cleanup, removal,
response, remedial or other actions or damages and (b) by any Governmental Authority or any other third party for damages,
contribution, indemnification, cost recovery, compensation or injunctive relief.
"Environmental Law" means any federal, state, local or foreign statute, law, ordinance, rule, regulation, code, order,
judgment, decree or judicial determination
6
Source: BLACK & DECKER CORP, 10-K, February 19, 2010 Powered by Morningstar
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