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135242345v3 <br /> <br /> <br />12 <br />to time, or the office of any successor Fiscal Agent where it principally conducts its business of <br />serving as Fiscal Agent under indentures pursuant to which municipal or governmental obligations <br />are issued. <br />“Project” is defined in the Recitals of this Funding Loan Agreement. <br />“Project Account” means the Project Account of the Project Loan Fund established by <br />Fiscal Agent pursuant to Section 2.11 hereof. <br />“Project Loan” is defined in the Recitals of this Funding Loan Agreement. <br />“Project Loan Agreement” is defined in the Recitals of this Funding Loan Agreement. <br />“Project Loan Amortization Schedule” is defined in the Project Loan Agreement. <br />“Project Loan Documents” means the Security Instrument, the Project Note, the Project <br />Loan Agreement, the TEL Regulatory Agreement, the Assignment, the Continuing Covenant <br />Agreement, any Subordination Agreement(s) and any and all other instruments and other <br />documents evidencing, securing, or otherwise relating to the Project Loan or any portion thereof. <br />“Project Loan Fund” means the Project Loan Fund established by Fiscal Agent pursuant <br />to Section 2.11 hereof. <br />“Project Note” is defined in the Recitals of this Funding Loan Agreement. <br />“Property Jurisdiction” means the State of Minnesota. <br />“Qualified Investments” means any of the following if and to the extent permitted by law: <br />(a) Direct and general obligations of the United States of America. <br />(b) Obligations of any agency or instrumentality of the United States of <br />America the payment of the principal of and interest on which are unconditionally <br />guaranteed by the full faith and credit of the United States of America. <br />(c) Senior debt obligations of Freddie Mac. <br />(d) Senior debt obligations of the Federal National Mortgage Association (i.e., <br />Fannie Mae). <br />(e) Demand deposits or time deposits with, or certificates of deposit issued by, <br />Fiscal Agent or its affiliates or any bank organized under the laws of the United States of <br />America or any state or the District of Columbia which has combined capital, surplus and <br />undivided profits of not less than $50,000,000; provided that Fiscal Agent or such other <br />institution has been rated at least “VMIG 1”/’”A 1+” by one of the Rating Agencies which <br />deposits or certificates are fully insured by the Federal Deposit Insurance Corporation or <br />collateralized pursuant to the requirements of the Office of the Comptroller of the <br />Currency.