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' Page 4 of ? �� <br /> 7. Program Proceeds shall mean and include the Grant Award, Program Derived <br /> Income and Loans and Investments. <br /> 8. Project shall mean and include any activity which includes the award by <br /> the Grantee of any Loan or Investment as defined herein to a third party <br /> beneficiary. <br /> 9. Total Project Investment shall mean and include the total of all sources <br /> of funds being used for the third party beneficiary Project, including <br /> Program Proceeds, Grantee Matching Funds, Capitalization Funds, bank or <br /> other participating lender funds, owner equity, and the value of donated <br /> land, buildings, machinery, equipment or other assets calculated at the <br /> lower of fair market value or depreciated value. <br /> - 4 - <br />