Best Buy 2003 Annual Report Download - page 70
Download and view the complete annual report
Please find page 70 of the 2003 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
 |
 |
2.4. Interest based on the Bank’s U.S. Base Rate shall be computed on the basis of a
year of 360 days and for actual days that the amounts are outstanding under the Loans
on this basis. For the purpose of the Interest Act (Canada), the annual rate of interest to
which interest computed on the basis of a year of 360 days is equivalent is the rate of
interest as provided in the Offer Letter multiplied by the number of days in such year
and divided by 360;
2.5. Upon the maturity of a Bankers’ Acceptance, unless another interest rate option
is selected by the Borrower, interest shall accrue at the applicable rate in the Offer
Letter based on the Bank’s Prime Rate or the Bank’s U.S. Base Rate, as the case
2
may be, depending on whether the funds are outstanding in Canadian or U.S. Dollars;
2.6. The fees collected by the Bank in connection with the Loans, or any of them, shall
be its property as consideration for the time, effort and expense incurred by it in the
review of documents and financial statements, and the Borrower acknowledges and
agrees that the determination of these costs is not feasible and that the fees set out in the
Offer Letter represent a reasonable estimate of such−costs;
2.7. All payments by the Borrower to the Bank shall be made at the address of the
branch of the Bank issuing the Offer Letter or at such other place as the Bank may
specify in writing from time to time. Any payment delivered or made to the Bank by
1:00 p.m. local time at the place where such payment is to be made shall be credited as
of that day, but if made afterwards shall be credited as of the next day on which the
said branch is open for business;
2.8. The obligation of the Borrower to make all payments under the Offer Letter and
the Loan Documents shall be absolute and unconditional and shall not be limited or
affected by any circumstance, including, without limitation:
2.8.1 any set−off, compensation, counterclaim, recoupment, defence or other right which the
Borrower may have against the Bank or anyone else for any reason whatsoever; or
2.8.2 any insolvency, bankruptcy, reorganization or similar proceedings by or against the Borrower.