(c) the trustee has failed to institute such proceeding within 60 days after its receipt of such notice,
request and offer of indemnity and/or security; and
(d) the trustee shall not have received from the holders of a majority in aggregate principal amount
of the debt securities of such series then outstanding a direction inconsistent with such request during the 60 day period referred to in clause (c).
However, such limitations do not apply to a suit instituted by a holder of any debt securities for enforcement of payment of the principal of, and premium, if
any, or interest on, such debt securities on or after the respective due dates expressed in such debt securities.
The indenture requires Agilent to
furnish to the trustee, within 120 days after the end of each fiscal year, a statement of an officer regarding compliance with the indenture.
Definitions
The indenture contains the following defined
terms:
Consolidated Net Tangible Assets means, as of the time of determination, the aggregate amount of the assets of Agilent and the
assets of its consolidated subsidiaries after deducting (1) all goodwill, trade names, trademarks, service marks, patents, unamortized debt discount and expense and other intangible assets and (2) all current liabilities, as reflected on
the most recent consolidated balance sheet prepared by Agilent in accordance with GAAP contained in an annual report on Form 10-K or a quarterly report on Form 10-Q
timely filed by Agilent with the SEC or any amendment thereto (and not subsequently disclaimed as not being reliable by Agilent) pursuant to the Securities Exchange Act of 1934, as amended, or the Exchange Act, prior to the time as of which
Consolidated Net Tangible Assets is being determined.
GAAP means generally accepted accounting principles in the United
States of America in effect on the date of the indenture and from time to time.
guarantee means any obligation, contingent or
otherwise, of any person directly or indirectly guaranteeing any indebtedness of any other person and any obligation, direct or indirect, contingent or otherwise, of such person (1) to purchase or pay (or advance or supply funds for the
purchase or payment of) such indebtedness of such other person (whether arising by virtue of partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement
conditions or otherwise) or (2) entered into for purposes of assuring in any other manner the obligee of such indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term guarantee will not include endorsements for collection or deposit in the ordinary course of business. The term guarantee, when used as a verb, has a correlative meaning.
incur means issue, assume, guarantee or otherwise become liable for.
indebtedness means, with respect to any person, obligations (other than Non-recourse Obligations)
of such person for borrowed money (including, without limitation, indebtedness for borrowed money evidenced by notes, bonds, debentures or similar instruments).
Non-recourse Obligation means indebtedness or other obligations substantially related to the
acquisition of assets not previously owned by Agilent or any direct or indirect subsidiaries of Agilent or the financing of a project involving the development or expansion of properties of Agilent or any direct or indirect subsidiaries of Agilent,
in each case as to which the obligee with respect to such indebtedness or obligation has no recourse to Agilent or any direct or indirect subsidiary of Agilent or such subsidiarys assets other than the assets which were acquired with the
proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).
person means
any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof.
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