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15 199386222v3 or product that is of lesser quality, in the Controlling Person’s determination, than that specified in the Plans and Specifications relating to the Project Facilities; or (ix) would materially adversely impair the value of the Project Facilities once the Work is completed. “Material Contract” means each indenture, mortgage, agreement or other written instrument or contract to which the Borrower is a party or by which any of its assets are bound (including, without limitation, any employment or executive compensation agreement, collective bargaining agreement, agreement relating to an Obligation, agreement for the acquisition, construction, repair or disposition of real or personal property, agreement for the purchasing or furnishing of services, operating lease, joint venture agreement, agreement relating to the acquisition or disposition of an Affiliate or agreement of merger or consolidation) which (i) evidences, secures or governs any outstanding obligation of the Borrower of $200,000 or more per annum, or (ii) if canceled, breached or not renewed by any party thereto, would have a material adverse effect on the business operations, assets, condition (financial or otherwise) or prospects of the Borrower. “Maturity Date” means the date set forth on the Schedule of Financial Terms. “Maximum Permanent Loan Amount” shall mean the amount specified on the Schedule of Financial Terms. “Minimum Beneficial Ownership Amount” means an amount of no less than ten percent (10%) of the outstanding principal amount of the Funding Loan. “Minimum Coverage” means the debt service coverage ratio set forth on the Schedule of Financial Terms. “Minimum Permanent Loan Amount” shall mean the amount specified on the Schedule of Financial Terms. “Minimum Physical Occupancy” means the minimum percentage of occupancy set forth on the Schedule of Financial Terms. “Moisture Management Program” shall have the meaning ascribed to such term in Section 6.14(e) of the Borrower Loan Agreement. “Mold” shall have the meaning ascribed to such term in Section 6.14(e) of the Borrower Loan Agreement. “Monthly Tax and Insurance Amount” means an amount equal to the sum of (i) one-twelfth (1/12th) of the annual Impositions, plus (ii) one-twelfth (1/12th) of the annual insurance premiums for the insurance coverages for the Project Facilities required by Section 6.4 of the Borrower Loan Agreement, as any such amounts may be increased if the Controlling Person determines that funds in the Tax and Insurance Escrow Account will be insufficient to pay Impositions and insurance premiums when due. “Moody’s” means Moody’s Investors Service, Inc., a corporation organized and existing under the laws of the State of Delaware, its successors and assigns and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, “Moody’s” shall be deemed to refer to any other nationally recognized securities rating agency designated by the Controlling Person, by notice to the Borrower, the Governmental Lender and the Funding Lender.