06-08-2022 Council Packet - Laserfiche WebLink

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73495160v3 19 “Qualified Project Costs” means the actual costs incurred to acquire, construct and equip the Project Facilities which (i) are or were incurred after October 16, 2021, (ii) are (A) chargeable to the Project Facilities’ capital account or would be so chargeable either with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs, within the meaning of Treasury Regulation Section 1.103-8(a)(l), and if charged or chargeable to the Project Facilities’ capital account are or would have been deducted only through an allowance for depreciation or (B) made for the acquisition of land, to the extent allowed in Section 147(c) of the Code, and (iii) are made exclusively with respect to a “qualified residential rental project” within the meaning of Section 142(d) of the Code. “Rebate Amount” shall have the meaning given to such term in Section 6.10(c) of the Borrower Loan Agreement. “Rebate Analyst” shall have the meaning given to such term in Section 6.10(c) of the Borrower Loan Agreement and shall be reasonably acceptable to the Controlling Person. “Rebate Report” shall have the meaning given to such term in Section 6.10(c) of the Borrower Loan Agreement. “Regulatory Agreement Default” shall have the meaning given to such term in Section 7.9(b) of the Borrower Loan Agreement. “Related Person” with reference to any Substantial User, means a “related person” within the meaning of Section 147(a)(2) of the Code. “Rents” shall have the meaning assigned to such term in the Mortgage. “Replacement Reserve Agreement” means the Replacement Reserve and Security Agreement, dated as of the date hereof, made by the Borrower in favor of the Funding Lender. “Required Equity Funds” means all installments of equity contributions to be made to the Borrower by the Investor Limited Partner through the Stabilization Date and funding of the Operating Reserve Account, subject to and in accordance with the terms of the Partnership Agreement. “Requisition” means a requisition in the form attached to the Borrower Loan Agreement as Exhibit B, together with all invoices, bills of sale, schedules, applications for payment, certifications and other submissions required for the disbursement of the proceeds of the Funding Loan pursuant to the terms of the Borrower Loan Agreement. “Reserved Rights” means the rights of the Governmental Lender pursuant to Sections 2.5, 4.2, 6.10, 10.5 and 10.13 of the Borrower Loan Agreement and the rights of the Governmental Lender pursuant to other sections of the Borrower Loan Agreement providing that notices, reports and other statements be given to the Governmental Lender. “Responsible Officer” means, when used with respect to the Fiscal Agent, any officer within the corporate trust department of the Fiscal Agent, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Fiscal Agent who customarily performs functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Funding Loan Agreement.