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"Co-Maker" and "Co-Makers" shall mean, individually or collectively, as the context may <br /> require, Merchants Affordable Housing Corporation,an Indiana nonprofit corporation. <br /> "Code" means the Internal Revenue Code of 1986, as amended, and all applicable regulations <br /> (whether proposed,temporary or final)under the Code and the statutory predecessor of the Code, and any <br /> official rulings and judicial determinations under the foregoing applicable to the Bonds. <br /> "Collateral Assignment of Equity Payments" shall mean that certain Assignment of Capital <br /> Contributions of even date herewith, executed or to be executed by Borrower in favor of MBI, as from <br /> time to time amended,modified,replaced or restated. <br /> "Collateral Assignment of Partnership Interest" shall mean that certain Assignment and <br /> Pledge of Partnership Interest and Contract Rights of even date herewith, executed or to be executed by <br /> General Partner in favor of MBI,as from time to time amended,modified,replaced or restated <br /> "Completion Date" means the latest date of completion of the Project, as evidenced in <br /> accordance with the requirements of Section 10.3 of this Agreement. <br /> "Completion Schedule" shall mean the construction draw schedule satisfactory to and approved <br /> by MBI. <br /> "Computation Date" means the last day of each fifth bond year (or such earlier bond year or <br /> bond years selected by the Issuer)and the date on which the final payment in full of all outstanding Bonds <br /> is made. <br /> "Construction Contract" shall mean that certain MA Document A104-2007 dated as of <br /> , executed by and between Borrower and General Contractor. <br /> "Construction Consultant" shall mean any architect, engineer or other consultant as MBI may <br /> engage from time to time to (i) review the Development Budget, the Plans and Specifications and any <br /> other report or information relating to the development of the Project and the construction or <br /> rehabilitation of the Improvements, (ii) review the progress and quality of the construction or <br /> rehabilitation of the Improvements and installation of the Personal Property, (iii) review any Draw <br /> Request and application for an advancement of the Loan, and (iv) perform such other consulting services <br /> as MBI may require in connection with the development of the Project and the construction or <br /> rehabilitation of the Improvements. <br /> "Construction Fund" means the Construction Fund created in Section 4.3 hereof, including the <br /> various accounts created thereunder. <br /> "Contingent Required Equity" shall mean, from time to time, that portion of the Required <br /> Equity (i) that has not been contributed toward the payment of the costs of the Project as shown on the <br /> Development Budget and (ii) for which the conditions set forth in the Partnership Agreement for the <br /> contribution of such funds to Borrower have not yet been fully satisfied. <br /> "Costs of Construction" means the following: <br /> (i) all Bond Issuance Costs; <br /> (ii) the cost of insurance of all kinds that may be required or necessary in connection <br /> with the acquisition, construction, equipping or installation of the Project; <br /> Page 3 <br />