1. MIDA Bond-Bethany on 42nd
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1. MIDA Bond-Bethany on 42nd
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4/16/2008 10:43:45 AM
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<br />"Costs of Issuance Fund" means the fund created by Section 5.3 hereof which shall be <br />entitled "Cass County Housing and Healthcare Facilities Revenue Bonds - Costs oflssuance Fund <br />(Bethany on 420d Project)." <br /> <br />"Counsel" means an attorney designated by or acceptable to the Trustee duly admitted to <br />practice before the highest court of any state; an attorney for the Company or the Issuer may be <br />eligible for appointment as Counsel. <br /> <br />"County Auditor" means the County Auditor of the Issuer. <br /> <br />"Default" and "Event of Default" means those defaults and events of default specified in <br />and defined by Section 8.1 hereof. <br /> <br />"Delivery Date" means the date the Bonds are delivered to the Underwriter in exchange for <br />the purchase price. <br /> <br />"Depository" means The Depository Trust Company, New York, New York, and its <br />successors and assigns or if (i) the then Depository resigns from its functions as securities depository <br />ofthe bonds, or (ii) the Issuer discontinues use ofthe Depository pursuant to Section 2.15, any other <br />securities depository which agrees to follow the procedures required to be followed by a securities <br />depository in connection with the Bonds and which is selected by the Issuer with the consent ofthe <br />Trustee. <br /> <br />"Determination of Taxability" means the issuance of a statutory notice of deficiency by the <br />Internal Revenue Service, or a ruling by the National Office or any District Office of the Internal <br />Revenue Service, or a final decision of a court of competent jurisdiction which holds in effect that <br />the interest payable on the Bonds is includable in the gross income of a Holder under Section 103(a) <br />of the Code, after the period, if any, for contest or appeal of such action, ruling or decision has <br />expired without any such contest or appeal having been properly instituted. "Determination of <br />Taxability" does not include, among other things, the inclusion of interest on the Bonds for purposes <br />of computing alternative minimum taxes imposed upon individuals and corporations pursuant to the <br />Code, nor does it mean the branch profits tax imposed pursuant to Section 84 of the Code, nor the <br />inclusion of interest as passive investment income for subchapter S corporations under Section 1375 <br />of the Code. <br /> <br />"Equipment" means all the equipment, fixtures, improvements and personal property now <br />or hereafter attached to, located in or necessary to the use of the Facilities as well as renewals, <br />replacements, additions, and substitutions thereof, but excluding therefrom the personal property of <br />any resident or licensee of the Facilities. <br /> <br />"Facilities" means the Land, the Equipment, the Project and any Improvements located on <br />the Land and owned by the Company. <br /> <br />1-3 <br />
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