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“Existing Indebtedness” means Obligations of the Borrower that have been issued or <br />incurred prior to the Effective Date, as listed and described in Schedule III (Existing <br />Indebtedness). <br />“Existing Principal Project Contract” means each contract of the Borrower set forth in <br />Part A of Schedule 12(n) (Principal Project Contracts). <br />“Existing SRF Loans” means the Subordinated Obligations of the Borrower incurred <br />pursuant to the State revolving fund loan agreements entered into prior to the Effective Date by <br />and among the Borrower and the FDEP, as listed and described in Schedule III (Existing <br />Indebtedness). <br />“FDEP” means the Florida Department of Environmental Protection. <br />“FDEP Consent” means the written consent, executed by the FDEP and in form and <br />substance satisfactory to the WIFIA Lender, establishing (a) FDEP consent to the Borrower <br />entering into the WIFIA Loan and issuing the WIFIA Bond, (b) FDEP consent that the WIFIA <br />Bond is secured by a Lien on the Pledged Funds on a parity with all other Outstanding Bonds and <br />senior to any Lien of the State in respect of Pledged Funds or System Revenues, and (c) FDEP <br />acknowledgement and agreement that the Existing SRF Loans are Subordinated Obligations <br />subject to the flow of funds set forth in Section 404 of the Master Resolution. <br />“Federal Fiscal Year” means the fiscal year of the Government, which is the twelve (12) <br />month period that ends on September 30 of the specified calendar year and begins on October 1 of <br />the preceding calendar year. <br />“Final Disbursement Date” means the earliest of (a) the date on which the WIFIA Loan <br />has been disbursed in full; (b) the last anticipated date of disbursement set forth in the then-current <br />Anticipated WIFIA Loan Disbursement Schedule; (c) the date on which the Borrower has certified <br />to the WIFIA Lender that it will not request any further disbursements under the WIFIA Loan; (d) <br />the date on which the WIFIA Lender terminates its obligations relating to disbursements of any <br />undisbursed amounts of the WIFIA Loan in accordance with Section 17 (Events of Default and <br />Remedies); and (e)the date that is one (1) year after the Substantial Completion Date. <br />“Final Maturity Date” means the earlier of (a) August 1, 2060 (or such earlier date as is <br />set forth in an updated Exhibit F (WIFIA Debt Service) pursuant to Section 8(e) (Payment of <br />Principal and Interest – Adjustments to Loan Amortization Schedule)); and (b) the Payment Date <br />immediately preceding the date that is thirty-five (35) years following the Substantial Completion <br />Date. <br />“Financial Statements” has the meaning provided in Section 12(t) (Representations and <br />Warranties of Borrower – Financial Statements). <br />“GAAP” means generally accepted accounting principles for U.S. state and local <br />governments, as established by the Government Accounting Standards Board (or any successor <br />entity with responsibility for establishing accounting rules for governmental entities), in effect <br />from time to time in the United States of America. <br />7 <br /> <br />