NCL Balance Sheet Liabilities definition
NCL Balance Sheet Liabilities means the amount of ----------------------------- liabilities included under the caption "Current Liabilities", including without limitation commissions payable and NCL's accounts payable incurred in the ordinary course of business consistent with past practices, except for that portion of Indebtedness that is deemed a current liability under generally accepted accounting principles, on the NCL Balance Sheet and determined in accordance with generally accepted accounting principles, consistently applied.