1. MIDA Bond Sisters of Presentation

"Business Day" means any day other than a Saturday. Sunday or other day on which banking institutions in the City of Minneapolis, Minnesota are not open for business. "Code" means the United States Internal Revenue Code of ] 986. as amended, and all Treasury Regulations promulgated thereunder. "Completion Date" means the date of completion of construction and equipping of the Project as that date shall be certified by the Corporation in accordance with Section 3.05 hereof. "Construction Account" means the account created by Section 2.] ] (b) of the Resolution. "Corporate Representative" means the President, Vice President, Secretary or Treasurer of the Board of Directors of the Corporation. or any authorized representative of the Corporation designated from time to time to act on behalf of the Corporation by written celiificate furnished to the Lender containing a specimen signature(s) of such person(s) and signed on behalf of the Corporation by an authorized signature. "COIporation" means Sisters ofthe Presentation ofthe Blessed Virgin Mary. Fargo, a North Dakota nonprofit corporation and its successors and assigns and any resulting or transferee corporation under Section 7.04 hereof. "Counsel" means an attorney designated by or acceptable to the Lender duly admitted to practice before the highest court of any state; an attorney for the Corporation or Issuer may be eligible for appointment as Counsel. "Determination of Taxability" means the issuance of a statutory notice of deficiency by the Internal Revenue Service, or a final decision of a court of competent jurisdiction which holds in effect that the interest payable on any Bond is includable in the gross income of a Holder under Section 103(a) of the Code, after the period. if any. for contest or appeal of such action, ruling, or decision has expired without any such contest or appeal having been properly instituted. "Determination ofTaxability" does not mean or include among other things, the inclusion of interest on the Bonds for purposes of computing alterative minimum taxes imposed upon individuals and corporations pursuant to the Code, nor does it mean the branch profits tax imposed pursuant to Section 884 of the Code, nor the inclusion of interest as passive investment income for subchapter S corporations under Section 1375 of the Code. "Equipment" means all the equipment, fixtures, and personal property acquired with the proceeds of the Bonds and any renewals. replacements, additions, and substitutions thereof. "Event of Default" means any of the events described as such in Section 9.0] hereof. "Facilities" means the Project and the Equipment. "Fiscal Year" means July I through June 30 of the follo\ving year, or any other period which constitutes the Corporation's fiscal year from time to time. 1-2