Interest Coverage Ratio means, with respect to the Borrower for any period, the ratio of the EBIT to the interest expenses of the Borrower all as determined in accordance with GAAP.
Investment Grade Securities means Investments with a rating not lower than Baa3 by Moodys or BBB- by S&P.
Investments means any common or preferred stock, bond, debt or equity investment of any kind whether held directly or indirectly, certificated or uncertificated.
Lien and Liens means any mortgage, deed of trust, pledge, security interest, assignment, encumbrance, judgment, lien, claim or charge of any kind in, on, of or in respect of, any asset or property or any rights to any asset or property, including, without limitation, (a) any interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to any such asset or property, and (b) the filing of, or any agreement to give, any financing statement relating to any such asset or property under the Uniform Commercial Code of any jurisdiction.
Loan and collectively the Loans have the meaning set forth in Section 2.1.
Loan Account has the meaning set forth in Section 2.4.
Material Adverse Change means a material adverse change in the business, properties, condition (financial or otherwise), operations, or prospects, of the Borrower or any Subsidiary.
Moodys means Moodys Investors Service.
Multiemployer Plan has the meaning set forth for such term in ERISA.
NAIC means the National Association of Insurance Commissioners.
Net Worth means the excess of the assets of the Borrower over the liabilities of the Borrower in accordance with GAAP or SAP, as the case may be, consistently applied.
Note has the meaning set forth in Section 2.4.
Obligations means collectively and includes all present and future Indebtedness, liabilities and obligations of any kind and nature whatsoever of the Borrower to the Bank both now existing and hereafter arising under, as a result of, on account of, or in connection with, (a) this Agreement and any and all amendments thereto, restatements thereof, supplements thereto and modifications thereof made at any time and from time to time hereafter, (b) the Note, or (c) the other Financing Documents, including, without limitation, future advances, principal, interest, indemnities, other fees, late charges, Enforcement Costs and other costs and expenses whether direct, contingent, joint, several, matured or unmatured.
PBGC means the Pension Benefit Guaranty Corporation.