HomeMy WebLinkAboutC.054.93011_0440 (2)DEFINITIONS
Definitions. The terms defined in this Article shall, for all purposes of this Agreement, have the
meanings in this Article specified, unless the context clearly indicates some other meaning:
"Additional Payments" means payments (other than Installment Payments) required to be
paid by the County hereunder, including in particular payments under Section 4.7 hereof.
"Advance" means the amount not exceeding $6,671,075 to be advanced by the Lender to
enable the County to finance the Implementation of the Project pursuant to the tends of this
Agreement.
"Agreement" means this Installment Financing Agreement and any and all amendments
or supplements hereto.
"Basic Agreements" means this Agreement and the Deed of Trust.
"Business Day" means a day (a) on which the Lender in the City of Charlotte, North
Carolina is open for the purpose of conducting a commercial banking business and (b) on which
the New York Stock Exchange is open for trading.
"County" means the County of Iredell, North Carolina, a political subdivision organized
and existing under the laws of the State of North Carolina, acting by and through its Governing
Body.
"Code" means the Internal Revenue Code of 1986, as amended, as it applies to this
Agreement and final regulations and all proposed regulations which, if adopted in their present
form would be retroactive and apply to this Agreement. Reference herein to any specific
provision of the Code shall be deemed to include any successor provision thereto.
"Deed of Trust" means the Deed of Trust and Security Agreement dated as of the date
hereof from the County to the deed of trust trustee named therein securing its obligations
hereunder for the purchase and improvement of the property more particularly described in the
Deed of Trust and on Exhibit A thereto.
"Environmental Laws" means any federal, state or local law, rule, regulation, permit,
order or ordinance relating to the protection of the environment or human health or safety now or
hereafter in effect, including, without limitation, the Comprehensive Environmental Response,
Compensation, and Liability Act, as amended (42 U.S.C. Section 9601, et seq.) (together with
the regulations promulgated thereunder, "CERCLA"), the Resource Conservation and Recovery
Act, as amended (42 U.S.C. Section 6901, et seq.) (together with the regulations promulgated
thereunder, "RCRA"), the Oil Pollution Act of 1990 (33 U.S.C. Section 2701, et seq.) (together
with the regulations promulgated thereunder, "OPA'), the Emergency Planning and Community
Right -to -Know Act, as amended (42 U.S.C. Section 11001, et seq.) (together with the regulations
promulgated thereunder, "Title III"), the Clean Water Act, as amended (33 U.S.C. Section 1321,
et seq.) (together with the regulations promulgated thereunder, "CWA"), the Clean Air Act, as
amended (42 U.S.C. Section 7401, et seq.) (together with the regulations promulgated
thereunder, "CAA") and the Toxic Substances Control Act, as amended (15 U.S.C. Section 2601
et seq.) (together with the regulations promulgated thereunder, "TSCA"), and any state or local
similar laws and regulations and any so-called local, state or federal "superfund" or "superlien"
law.
"Event of Default" shall have the meaning set forth in Section 6.1 hereof.
"Governing Body" means the governing body of the County.
"Hazardous Materials" means any flammable explosives, radioactive materials,
hazardous materials, hazardous wastes, hazardous or toxic substances, or related materials,
asbestos or any materials containing asbestos or petroleum, petroleum hydrocarbons, or any
other substance or material as defined by (or for purposes of) any federal, state or local
environmental law, ordinance, rule or regulation including, without limitation, the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended
(42 U.S.C. sections 9601 et seq.), the Hazardous Materials Transportation Act, as amended (49