1983-102 - Laserfiche WebLink

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(e) 'l'he ter;n "Indebtedness" shall mean -and include (l} all items which in accordance with good accounting practice should be included on the liability side of a balance sheet on the date as of which Indebtedness is to be determined, (2) guaranties, endorsements and other contingent obligations in respect of , or any obligations to purchase or otherwise acquire, indehtadness of others, and (3) i ndebtedness secured by any mort~age, pledge or lien existing on property owned sub ject to such mortgage, p l edge or lien whether or not the indebtedness secured thereby i;hal.l have been assumed; provided, however, tha t such term shall not mean and includ~ any indebtedness in respect of which money sufficient to pay and discha rge the same in full (either on the expressed date of maturity thereof or on such earlier date as such indebtedness may be duly called for redemp- tion and payment) shall have been deposited with a depository, agency or trustee in trust for the payment thereof. ( f) The term "Net Cash Flow" shall mean the amount of net earnings of the Borrower as shown on -any statement of income of the Dorrower plus the amount of any non-cash items charged to expense in arriving at such net earnings, all as determined in accordance with good accounting practice. (g) The ter;n "Permitted Invest:nent Securities" shall mean (l) readily marketable securities issued or fully guaranteeu by the United States of Americai (2) commercial paper having a maturity of not more than one 'jear from the date of issuance thereof and rated "Prime l" by Moody's Investors Service, Inc.; (3) Eurodollars issued by banks acceptable to the Trustee having a maturity of not more than one ':(ear from the date of issuance thereof, (h} 'I'he term "Tangible Net Worth" shall mean the amount by which the sum of ( l) the par value (or value stated on the books of the narrower) of the c~pital stock of all classes of the Borrower and (2) the amount of surpl us, capital or earned, of the Oorrower axceeds the sum of (a) the amount of any write-up in the book value of any assets contained in any balance sheet of the i3orrower resulting from revaluation thereof or any write-up in e~cess of the cost of such assets acquireu, and (b) the aggregate of all amounts r\ppearing on the <.1sset sic.le of nny suc..:h balance sheet of franchises, licenses, permits, patents, patent applications, copyrights, traucmarl<s, trauenames, good wil l, treasury stock, experimental or organization expenses, prepai-1 expanses, r\nd other like intan<Jibles, all ueterrninerl in acco r- dance with good accounting practice. -39-