05-13-2020 Council Packet - Laserfiche WebLink

Home Browse Search

12316306v3 -9- Mortgage, (v) any mortgage lien subordinate to the lien of the Mortgage to be granted by the Borrower after the date of issuance of the Bonds in connection with any indebtedness for borrowed money, provided, however, that the terms of any such indebtedness shall require notice of any default thereunder to be provided to the Trustee and shall provide the Trustee with an opportunity to cure any such default, (vi) purchase money security interests granted in connection with the acquisition of Project Equipment, (vii) any intercreditor and parity agreement entered into pursuant to Section 6.11 of the Loan Agreement, and (viii) those additional encumbrances identified in Exhibit B to the Mortgage. "Predecessor Bonds" of any particular Bond means every previous Bond evidencing all or a portion of the same debt as that evidenced by such particular Bond, and for purposes of this definition, any Bond authenticated and delivered under Section 2.07 hereof in lieu of a lost, destroyed or stolen Bond shall be deemed to evidence the same debt as the lost, destroyed or stolen Bond. "Preliminary Expenditures" means architectural, engineering, surveying, soil testing, reimbursement bond issuance, and similar costs that are incurred prior to commencement of acquisition, construction, or rehabilitation of a project, other than land acquisition, site preparation, and similar costs incident to commencement of construction. "Principal Trust Office" means for the Trustee originally appointed hereunder, the designated corporate trust office of the Trustee which at the date of execution of this Indenture is that specified in Section 13.07 of this Indenture. "Prior Note" means the City of Little Canada, Minnesota $11,970,000 Health Care Facilities Revenue Note (Langton Place Project) Series 2018, currently outstanding in the aggregate amount of $11,970,000. "Project" means the Project described in Section 1.03 hereof. "Project Account" refers to each of the 2018 Project Account and the 2020 Project Account established within the Project Fund pursuant to Section 4.02 hereof. "Project Buildings" shall have the meaning set forth in the Loan Agreement. "Project Costs" means the costs defined in Section 4.03 of this Indenture. "Project Equipment" shall have the meaning set forth in the Loan Agreement. "Project Facilities" shall have the meaning set forth in the Loan Agreement. "Project Fund" means the Project Fund established under Section 4.02 hereof. "Qualified Investments" means investments authorized by the Act and described in Section 5.04 of this Indenture. "Redeem" or "redemption" means and includes "prepay" or "prepayment" as the case may be.