Synthetic Lease Obligation the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Synthetic Lease Obligation. The monetary obligation of a Person under a so-called synthetic, off-balance sheet or tax retention lease, where such transaction is considered borrowed money Indebtedness for tax purposes but which is classified as an operating lease pursuant to GAAP.
Synthetic Lease Obligation the monetary obligation of a Person under a Synthetic Lease. Taxes: all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
Synthetic Lease Obligation. The monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any bankruptcy or similar law to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). Taxes All present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
Synthetic Lease Obligation the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of Property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). Taxes — any taxes, levies, imposts, duties, fees, assessments, deductions, withholdings or other charges of whatever nature, including income, receipts, excise, property, sales, use, transfer, license, payroll, withholding, social security, franchise, intangibles, stamp or recording taxes imposed by any Governmental Authority, and all interest, penalties and similar liabilities relating thereto. Terminal Property — the terminal facility owned and operated by the Company and located in Burhnam, Illinois. Threshold Amount — $5,000,000. Title Insurance Company — as defined in Section 6.1(d). Transferee — any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations. Type — any type of a Loan (i.e., Base Rate Loan or LIBOR Loan) that has the same interest option and, in the case of LIBOR Loans, the same Interest Period. UCC — the Uniform Commercial Code as in effect in the State of New York or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien, the Uniform Commercial Code of such jurisdiction. Unused Line Fee Percentage — for any Type of Loan, the per annum rate set forth below, as determined based on the Utilization for the preceding month: Level Utilization Unused Line Fee Percentage I > 50% 0.250 % II > 25% and £ 50% 0.375 % III £ 25% 0.500 % From the Closing Date until June 30, 2006, the Unused Line Fee Percentage shall be determined as if Level II were applicable, regardless of the actual Utilization during such period. Utilization — the percentage obtained by dividing the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month by the Revolver Commitments in effect during such month. Value — (a) with respect to Eligible Category B Inventory and work-in-process fuel Inventory, the value of Inventory determined by Agent in good faith on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and (b) with respect to Eligible Category A Inventory comprised of crude and finished fuel Inventory, the market v...
Synthetic Lease Obligation. The monetary obligation of a Person under a so-called synthetic, off-balance sheet or tax retention lease, where such transaction is considered borrowed money Indebtedness for tax purposes but which is classified as an operating lease pursuant to GAAP. Telerate Page 3750. Telerate Page 3750 means the display page so designated on Reuters (or such other page as may replace that page on that service, or such other service as may be nominated as the information vendor by the Administrative Agent, for the purpose of displaying rates or prices comparable to those displayed on Telerate Page 3750 at the time of execution of this Agreement).
Synthetic Lease Obligation the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). "TOTAL COMMITMENT" - as to each Bank, the sum of its A Commitment and its B Commitment.
Synthetic Lease Obligation the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). "Tangible Net Worth" - the sum of capital surplus, earned surplus and capital stock, less intangibles and treasury stock, all as determined in accordance with generally accepted accounting principles consistently applied, provided, however, for any date of determination of Tangible Net Worth occurring on or after the decision by the board of directors or management of the Parent to terminate the business of Balihides, there shall be added to Tangible Net Worth an amount of up to $900,000, representing on an after-tax basis, charges taken in connection with such decision, to the extent such charges have caused a reduction in Tangible Net Worth.
Synthetic Lease Obligation the monetary obligation of a Person under (a)a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of Property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). Taxes — any taxes, levies, imposts, duties, fees, assessments, deductions, withholdings or other charges of whatever nature, including income, receipts, excise, property, sales, use, transfer, license, payroll, withholding, social security, franchise, intangibles, stamp or recording taxes imposed by any Governmental Authority, and all interest, penalties and similar liabilities relating thereto. Threshold Amount — $25,000,000. Transferee — any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations. Type — any type of a Loan (i.e., Base Rate Loan or LIBOR Loan) that has the same interest option and, in the case of LIBOR Loans, the same Interest Period. UCC — the Uniform Commercial Code as in effect in the State of New York or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien, the Uniform Commercial Code as in effect in such jurisdiction. Unused Line Fee Percentage — for any Type of Loan, the per annum rate set forth below, as determined based on the Utilization for the preceding month: Level Utilization Unused Line Fee Percentage I ≥ 50% 0.375% II < 50% 0.500% U.S. or United States — the United States of America. Utilization — the percentage obtained by dividing the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month by the Revolver Commitments in effect during such month.
Synthetic Lease Obligation. The monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). EXHIBIT B FORM OF PROMISSORY NOTE $1,000,000,000 January 3, 2020 FOR VALUE RECEIVED, the undersigned, LOWE’S COMPANIES, INC., a North Carolina corporation (the “Borrower”), hereby promises to pay to the order of XXXXX FARGO BANK, NATIONAL ASSOCIATION (the “Lender”) the principal sum of ONE BILLION DOLLARS ($1,000,000,000) or, if less, the aggregate unpaid principal amount of all Term Loans (or Advances thereunder) made by the Lender to the Borrower pursuant to the letter agreement, dated as of even date herewith (such letter agreement, as it may be amended, restated, extended, supplemented or otherwise modified from time to time, being hereinafter called the “Agreement”), between the Borrower and the Lender, on the Maturity Date. The Borrower further promises to pay interest on the unpaid principal amount of the Term Loans evidenced hereby from time to time at the rates, on the dates, and otherwise as provided in the Agreement. The loan account records maintained by the Lender shall at all times be conclusive evidence, absent manifest error, as to the amount of the Term Loans and payments thereon; provided, however, that any failure to record any Term Loan or payment thereon or any error in doing so shall not limit or otherwise affect the obligation of the Borrower to pay any amount owing with respect to the Term Loans. This promissory note is the promissory note referred to in, and is entitled to the benefits of, the Agreement, which Agreement, among other things, contains provisions for acceleration of the maturity of the Term Loans evidenced hereby upon the happening of certain stated events and also for prepayments on account of principal of the Term Loans prior to the maturity thereof upon the terms and conditions therein specified. Unless otherwise defined herein, terms defined in the Agreement are used herein with their defined meanings therein. This promissory note shall be governed by, and construed in accordance with, the laws of the State of North Carolina. [Signature Page Follows] LOWE'S COMPANIES, INC. By: /s/ Xxxxxxxx X. Xxxxxx Name: Xxxxxxxx X...
