Laserfiche WebLink
"Fund" means any fund established under the Bond Resolution. <br /> "Government Obligations" means direct obligations of the United States of America. <br /> "Independent" means having no interest, directly or indirectly, in the Company or the <br /> Issuer and, in the case of an individual, not being a director, officer or employee of the Company <br /> or of the Issuer and, in the case of a firm, not having a partner, director, officer or employee who <br /> is a director, officer or employee of the Company or of the Issuer. <br /> "Initial Interest Rate" means a rate of interest equal to 5.60% per annum. <br /> "Interest Payment Date" means monthly on the fourth (4th) day of each month during the <br /> term of the Note, as herein defined, commencing December 4, 1999. <br /> "Interest Rate" shall mean the applicable rate of interest per annum as set forth in the <br /> Note. <br /> "Interest Rate Adjustment Date(s)" means November 4, 2004, November 4, 2009, <br /> November 4, 2014 and November 4, 2019 and any date or dates on which there is a change in the <br /> Tax Rate or a change in the TEFRA Disallowance Deduction (individually the "Interest Rate <br /> Adjustment Date" and collectively the "Interest Rate Adjustment Dates"). <br /> "Investment Securities" means (i) direct obligations of the United States of America, or <br /> (ii) deposits which are fully insured by the Federal Deposit Insurance Corporation, or (iii) any <br /> other deposits with the consent of the Assignee and the Company. <br /> "Issuer" means the City of Decatur, Illinois. <br /> "Land" means the real estate described in Schedule 1 hereto and any other real estate <br /> added thereto, together with all buildings, improvements, fixtures and other property situated <br /> thereon at the time of delivery of this Loan Agreement, the Assignment and the Mortgage, or at <br /> any time thereafter, constituting real property or real estate under the laws of the State of Illinois. <br /> "Loan Agreement" means this Loan Agreement, dated as of the date hereof, between the <br /> Company and the Issuer, as from time to time amended and supplemented by Supplemental Loan <br /> Agreements. <br /> "Loan Year" means each period from November 4th to the following November 3rd <br /> during the time period that the Note is outstanding. <br /> "Mortgage" means the Mortgage and Security Agreement dated as of November 1, 1999, <br /> from the Company to the Issuer and assigned to the Assignee, as its interests appear, as from time <br /> to time amended and supplemented by a Supplemental Mortgage. <br /> "Mortgaged Property" means the property conveyed as security under the Mortgage. <br /> 10 <br />