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Bill No. 67-22 Ordinance Authorizing Fund for SB Choc. Dest. Pr.
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Bill No. 67-22 Ordinance Authorizing Fund for SB Choc. Dest. Pr.
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11/14/2022 1:04:42 PM
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10/31/2022 9:58:16 AM
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for any other costs previously incurred and for work done by Borrower which are properly <br />chargeable to the Project. <br />"Redevelopment Commission" means the South Bend Redevelopment Commission. <br />"Series 2022 Note" means the Series 2022A Note and Series 2022B Note of each Borrower <br />in the aggregate maturity amounts of $2,700,000 in substantially the forms attached hereto as <br />Exhibit A-1 and Exhibit A-2 which will be issued and delivered by the Borrower to the City to <br />evidence the Loan in the respective amounts due by IDM and SBCC and any Note issued in <br />exchange for the Series 2022 Note pursuant to Section 3.7 hereof. As set forth in Section 2.2(i) <br />hereof, the Series 2022 Note will be drawn in an aggregate amount not to exceed $2,700,000 as <br />set forth in Section 2.2(i). <br />"Series 2022 Note A" means the Series 2022 Note delivered by IDM in the form attached <br />hereto as Exhibit A-1 in the maximum amount of [$1,700,000]. <br />"Series 2022 Note B" means the Series 2022 Note delivered by SBCC in the form attached <br />hereto as Exhibit A-2 in the maximum amount of [$1,000,000]. <br />"State" means the State of Indiana. <br />"Tax Increment" has the meaning set forth in the Recitals. <br />"Written Request" means a request in writing from an authorized representative of the party <br />making the request. <br />Section 1.2. Rules of Interpretation. For all purposes of this Loan Agreement, except as <br />otherwise expressly provided, or unless the context otherwise requires: <br />(a) "This Loan Agreement" means this instrument as originally executed and as it may <br />from time to time be supplemented or amended pursuant to the applicable provisions hereof. <br />(b) All references in this instrument to designated "Articles," "Sections" and other <br />subdivisions are to the designated Articles, Sections and other subdivisions of this instrument as <br />originally executed. The words "herein," "hereof' and "hereunder" and other words of similar <br />import refer to this Loan Agreement as a whole and not to any particular Article, Section or other <br />subdivision. <br />(c) The terms defined in this Article have the meanings assigned to them in this Article <br />and include the plural as well as the singular and the singular as well as the plural. <br />(d) All accounting terms not otherwise defined herein have the meanings assigned to <br />them in accordance with generally accepted accounting principles as consistently applied. <br />(e) The terms defined elsewhere in this Loan Agreement shall have the meanings <br />therein prescribed for them. <br />5 <br />4854-2813-5735.5 <br />
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