This excerpt taken from the ABB 20-F filed Apr 18, 2007.
3.13. Definitions. The following capitalized terms used herein shall have the meanings set forth below:
ABB has the meaning set forth in the preamble.
ABB Group means ABB and its Subsidiaries from time to time.
ABB Inc. has the meaning set forth in the preamble.
Asbestos PI Trust has the meaning set forth in the preamble.
Business Day means any day other than a Saturday, Sunday, or other day on which banks are authorized or required to close in New York, New York or Zürich, Switzerland.
Claims has the meaning set forth in Section 3.9(ii) hereof.
Contingent Payment Annual Cap has the meaning set forth in Section 1.1(c).
Default Rate has the meaning set forth in Section 1.4.
Dollars means the lawful currency of the United States of America.
EBIT means earnings before interest and taxes as reflected in the Financial Statements.
EBIT Margin Event shall occur with respect to a Fiscal Year if ABBs ratio of EBIT to revenues for such Fiscal Year (as reflected in the corresponding line item in the Financial Statements) (such ratio, the EBIT Margin) is greater than or equal to (i) 8.0% in the case of Fiscal Year 2007 and Fiscal Year 2008, (ii) 9.0% in the case of Fiscal Year 2009; (iii) 9.5% in the case of Fiscal Year 2010.
Effective Date has the meaning set forth in the Plan.
Entity means any individual, corporation, limited liability company, partnership, association, joint stock company, joint venture, estate, trust, unincorporated organization or government or any political subdivision thereof, or other person.
Event of Default has the meaning set forth in Section 2.1 hereof.
Final Order has the meaning set forth in the Glossary.
Financial Statements means the annual audited consolidated financial statements of ABB for the relevant period, prepared applying United States generally accepted accounting principles, as approved by the shareholders of ABB in accordance with applicable law.
Glossary means the Glossary of Terms for the Plan Documents Pursuant To Combustion Engineering Inc.s Plan of Reorganization as modified through October 7, 2005, adopted pursuant to the Plan.
Guaranties has the meaning set forth in Section 1.5 hereof.
Guarantor has the meaning set forth in Section 1.5 hereof.
Injunction Default has the meaning set forth in the Glossary.
Maker or Makers has the meaning set forth in the preamble.
Note has the meaning set forth in the preamble.
Plan means the Combustion Engineering, Inc.s Plan of Reorganization as modified through October 7, 2005 as amended, supplemented, or otherwise modified from time to time in accordance with its terms, and the exhibits, and schedules to the foregoing, as the same may be in effect from time.
Plan Document has the meaning set forth in the Glossary.
Permitted Holder means, as of any date of determination, the Asbestos PI Trust, or any assignee thereof that has acquired all of the interests in the Note pursuant to Section 3.12 hereof, as applicable on such date.
Permitted Payor means a Guarantor, any affiliate of a Guarantor, or any other Entity (other than the Makers) acting on behalf of, or designated by, the Makers or a Guarantor, provided that Guarantor, any affiliate of Guarantor or other Entity can make the relevant payment without such payment being subject to rescission, avoidance, return or recovery on account of applicable fraudulent transfer, preference or other similar laws, or for any other reason.
Plan has the meaning set forth in the Glossary.
Prime Rate means as of any date of determination, the rate publicly announced on such date as the daily prime rate by The Wall Street Journal (National Edition) for transactions in Dollars.
revenues means, for any Fiscal Year, the consolidated revenues of ABB and its subsidiaries for such Fiscal Year, as reflected in the Financial Statements.
Subsidiary has the meaning set forth in the Glossary.
Turbo has the meaning set forth in Section 1.5 hereof.
Unless otherwise indicated, the term including means including without limitation, except when used in the computation of time periods.
For purposes of the computation of time periods, whenever this Note provides for an event to occur within a specified number of days of a preceding event, it shall mean that the latter event shall occur before the close of business on the last of the specified days, and the day on which the preceding event occurs shall not be included in the computation of days elapsed. The word from means from and including, after means after and excluding, to and until means to and including.
3.14. Third Party Beneficiary. Each of the Makers hereby agrees and acknowledges that, until such time when the Asbestos PI Trust is not the Permitted Holder, the trustees of the Asbestos PI Trust are third party beneficiaries of this Note, with full right, power and authority to enforce the Asbestos PI Trusts rights under this Note.