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This excerpt taken from the CVS 8-K filed Mar 23, 2007. “Indebtedness”:
as to any Person at a particular time, all
items of such Person which constitute, without duplication, (a) indebtedness
for
borrowed money or the deferred purchase price of Property (other than trade
payables and accrued expenses incurred in the ordinary course of business),
(b)
indebtedness evidenced by notes, bonds, debentures or similar instruments,
(c)
indebtedness with respect to any conditional sale or other title retention
agreement, (d) indebtedness arising under acceptance facilities and the amount
available to be drawn under all letters of credit (excluding for purposes of
Sections 8.1 and 8.9 letters of credit obtained in the ordinary course of
business by the Borrower or any Subsidiary) issued for the account of such
Person and, without duplication, all drafts drawn thereunder to the extent
such
Person shall not have reimbursed the issuer in respect of the issuer’s payment
of such drafts, (e) that portion of any obligation of such Person, as lessee,
which in accordance with GAAP is required to be capitalized on a balance sheet
of such Person, (f) all indebtedness described in (a) - (e) above secured by
any
Lien on any Property owned by such Person even though such Person shall not
have
assumed or otherwise become liable for the payment thereof (other than
carriers’, warehousemen’s, mechanics’, repairmen’s or other like non-consensual
Liens arising in the ordinary course of business), and (g) Contingent
Obligations in respect of any indebtedness described in items (a) - (f) above,
provided that,
for purposes of this definition,
Indebtedness shall not include Intercompany Debt and obligations in respect
of
interest rate caps, collars, exchanges, swaps or other, similar
agreements.
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