Laserfiche WebLink
“Construction Period” means the period from the Effective Date through the Substantial <br />Completion Date. <br />“Construction Period Servicing Fee” has the meaning set forth in Section 10(a)(ii) (Fees <br />and Expenses – Fees). <br />“Construction Schedule” means (a) the initial schedule or schedules on which the <br />construction timetables for the Project are set forth, attached as Schedule II (Construction <br />Schedule), and (b) any updates thereto included in the periodic reports submitted to the WIFIA <br />Lender pursuant to Section 16(d) (Reporting Requirements – Construction Reporting) most <br />recently approved by the WIFIA Lender. <br />“Consulting Engineers” has the meaning provided in the Master Resolution. <br />“Control” means, when used with respect to any particular Person, the possession, directly <br />or indirectly, of the power to direct or cause the direction of the management and policies of such <br />Person, whether through the ownership of voting securities or partnership or other ownership <br />interests, by contract or otherwise, and the terms “Controlling” and “Controlled by” have <br />meanings correlative to the foregoing. <br />“CPI” means the Consumer Price Index for All Urban Consumers (CPI-U) for the U.S. <br />City Average for All Items, 1982-84=100 (not seasonally adjusted) or its successor, published by <br />the Bureau of Labor Statistics and located at https://www.bls.gov/news.release/cpi.t01.htm. <br />“Credit Facility” means any letter of credit, standby bond purchase agreement, line of <br />credit, policy of bond insurance, surety bond, guarantee or similar instrument, or any agreement <br />relating to the reimbursement of any payment thereunder (or any combination of the foregoing), <br />which is obtained by the Borrower and is issued by a financial institution, insurance provider or <br />other Person and which provides security or liquidity in respect of any Permitted Debt. <br />“Credit Facility Provider” means, with respect to any Credit Facility, the issuer or <br />provider of such Credit Facility. <br />“Debt Service Fund” has the meaning provided in the Master Resolution. <br />“Debt Service Payment Commencement Date” means February 1, 2021. <br />“Default” means any event or condition that, with the giving of any notice, the passage of <br />time, or both, would be an Event of Default. <br />“Default Rate” means an interest rate equal to the sum of (a) the WIFIA Interest Rate plus <br />(b) 200 basis points. <br />“Development Default” means (a) the Borrower abandons work or fails, in the reasonable <br />judgment of the WIFIA Lender, to diligently prosecute the work related to the Project or (b) the <br />Borrower fails to achieve Substantial Completion of the Project by August 1, 2026. <br />“Dollars” and “$” means the lawful currency of the United States of America. <br />5 <br /> <br />