Existing Notes means the Companys 3.500% Senior Notes due September 15, 2022, the Companys 4.000% Senior Notes due November 15, 2023 and the Companys 3.500% Senior Notes due October 1, 2030.
Fitch means Fitch Ratings Ltd. and its successors.
Funded Debt means, on the date of determination, any Debt maturing by its terms more than 12 months from such date (notwithstanding that any portion of such Debt is included in current liabilities), including any Debt renewable or extendible at the option of the borrower to a date later than 12 months from such date of determination.
GAAP means generally accepted accounting principles as in effect from time to time in the United States.
Investment Grade Rating means a rating of BBB- or better by Fitch, a rating of Baa3 or better by Moodys or a rating of BBB- or better by S&P, and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company.
Liens means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other similar encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person.
Material Subsidiary means any Subsidiary of the Company which owns a Principal Property.
Moodys means Moodys Investors Service, Inc. and its successors.
Par Call Date means October 15, 2031.
Person means an individual, limited liability company, partnership, corporation, trust, unincorporated organization, association, joint venture or other entity or a government or agency or political subdivision thereof.
Principal Property means any manufacturing plant, warehouse, office building or parcel of real property, including fixtures but excluding leases and other contract rights which might otherwise be deemed real property, owned by the Company or any of its Subsidiaries, whether owned on the date of the Indenture or thereafter acquired, that has a gross book value (determined in accordance with GAAP) in excess of 1.0% of the Consolidated Tangible Assets of the Company and its consolidated subsidiaries. Any plant, warehouse, office building or parcel of real property or portion thereof will not be a Principal Property if the Companys board of directors in good faith determines it is not of material importance to the business conducted by the Company and its Subsidiaries taken as a whole.