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"Project" means acquiring, constructing, equipping and improving privately owned real <br /> and personal property into a multifamily housing complex, containing 179 affordable living units, <br /> or any other use that may be permitted under the Act. <br /> "Project Costs"means the costs of the Project specified in Section 3.4 of the Agreement. <br /> "Project Fund"means the Project Fund created in Section 5.01 hereof. <br /> Purposes""Project means the operation of the Project in accordance with the Act, the <br /> p J <br /> Code and the Regulatory Agreement. <br /> "Rating Agency"means Moody's Investors Service, Inc., or any successor thereto. <br /> "Rebate Amount" means as of each Computation Date an amount equal to the sum of(i) <br /> plus (ii) where: <br /> (i) is the excess of <br /> (a) the aggregate amount earned from the date of issuance of the Bonds to <br /> such Computation Date on all nonpurpose investments in which gross proceeds of the <br /> Bonds are invested (other than investments attributable to excess earnings described in <br /> this clause (i)) including any gain or deducting any loss from disposition of nonpurpose <br /> investments, over <br /> (b) the amount which would have been earned during such period if those <br /> nonpurpose investments (other than amounts attributable to an excess described in this <br /> clause(i))had been invested at a rate equal to the yield on the Bonds; and <br /> (ii) is any income attributable to the excess described in this definition. <br /> The foregoing sums shall be determined in accordance with Section 148 of the Code. As used <br /> herein, the terms "gross proceeds", "nonpurpose investments" and "yield" have the meanings <br /> assigned to them for purposes of Section 148(f) of the Code. <br /> "Rebate Fund"means the Rebate Fund created in Section 5.01 hereof. <br /> "Register" means the books kept and maintained by the Registrar for registration and <br /> transfer of Bonds pursuant to Section 3.05 hereof. <br /> "Registrar" means the Trustee, until a successor Registrar shall have become such <br /> pursuant to applicable provisions of this Indenture; each Registrar shall be a transfer agent <br /> registered in accordance with Section 17A(c) of the Securities Exchange Act of 1934. <br /> "Regular » th <br /> Record Date means, with respect to any Bond, the 15 day of the calendar <br /> month next preceding each Interest Payment Date applicable to that Bond and, with respect to <br /> any Mandatory Tender Date, the 45th day preceding such Mandatory Tender Date. <br /> - 13 - <br />