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"Interest Payment Date" or "Interest Payment Dates" means (a) each May 1 and <br /> November 1, commencing November 1, 2020, (b) each Mandatory Tender Date and (c) the <br /> Maturity Date. <br /> "Interest Period" means, initially, the period from the Closing Date to and including <br /> October 31, 2021, and thereafter, the period commencing on each Mandatory Tender Date and <br /> ending on the day preceding the next Mandatory Tender Date or Maturity date, whichever is <br /> sooner. <br /> "Interest Rate" means the Initial Interest Rate to but not including the Initial Mandatory <br /> Tender Date, and thereafter the applicable Remarketing Rate. <br /> "Interest Rate for Advances" means the rate of twelve percent per annum (12%) or the <br /> rate per annum which is two percent plus that interest rate announced by the Trustee in its <br /> lending capacity as a bank as its "Prime Rate" or its "Base Rate", whichever is greater and <br /> lawfully chargeable, in whole or in part. <br /> "Investor Member" means Merchants Affordable Housing Corp., an Indiana corporation, <br /> and its lawful successors and assigns. <br /> "Lien" means any mortgage, deed of trust, lien, charge, security interest or encumbrance <br /> of any kind upon, or pledge of, any property, whether now owned or hereafter acquired, and <br /> includes the acquisition of, or agreement to acquire, any property subject to any conditional sale <br /> agreement or other title retention agreement, including a Lease on terms tantamount thereto or on <br /> terms otherwise substantially equivalent to a purchase. <br /> "Loan" means the loan by the Issuer to the Borrower of the proceeds received from the <br /> sale of the Bonds. <br /> "Loan Payment Cure Period" means a period of four Business Days following any Loan <br /> Payment Date. <br /> "Loan Payment Date" means the fifth Business Day preceding each Interest Payment <br /> Date. <br /> "Loan Payments" means the amounts required to be paid by the Borrower in repayment <br /> of the Loan pursuant to the provisions of the Note and Section 4.1 of the Agreement. <br /> "Mandatory Tender"means a tender of Bonds required by Section 4.01. <br /> "Mandatory Tender Date" means (a) the Initial Mandatory Tender Date and (b) if the <br /> Bonds Outstanding on the Initial Mandatory Tender Date or on any subsequent Mandatory <br /> Tender Date are remarketed pursuant to Section 4.03 hereof for a Remarketing Period that does <br /> not extend to the final maturity of the Bonds, the day after the last day of the Remarketing Period. <br /> "Maturity Date"means November 1, 2022. <br /> - 9 - <br />