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“Initial Remarketing Date” means the Initial Mandatory Tender Date, but only if the conditions for
remarketing the Bonds on such date as provided in Section 4.05 hereof are satisfied.
“Interest Account” means the Interest Account within the Bond Fund created in Section 5.01 hereof.
“Interest Payment Date” or “Interest Payment Dates” means (a) each April 1 and October 1,
commencing October 1, 2026; (b) any date the Bonds are called for redemption prior to maturity; (c) each
Mandatory Tender Date; (d) the Maturity Date; and (e) the date of acceleration of the Bonds.
“Interest Period” means, initially, the period from the Closing Date to and including October 1,
2026, and thereafter, the period commencing on each succeeding Interest Payment Date and ending on the
last day of that month preceding the next Interest Payment Date.
“Interest Rate” means the Initial Interest Rate to but not including the Initial Mandatory Tender
Date, and thereafter the applicable Remarketing Rate.
“Interest Rate for Advances” means the rate of 6% per annum or the rate per annum which is 2%
plus that interest rate announced by U.S. Bancorp in its lending capacity as a bank as its “Prime Rate” or
its “Base Rate,” whichever is greater and lawfully chargeable, in whole or in part.
“Investor Limited Partners” means collectively, the Federal Investor Limited Partner and the State
Historic Tax Credit Equity Investor.
“Issuer” means the Newport News Redevelopment and Housing Authority, a political subdivision
of the Commonwealth, duly organized and existing under the laws of the Commonwealth, the issuer of the
Bonds hereunder, and its successors and assigns.
“Issuer Revenues” means (a) the Loan Payments; (b) all other money received or to be received by
the Issuer or the Trustee in respect of repayment of the Loan, including without limitation all money and
investments in the Bond Fund; (c) any money and investments in the Project Fund and the Collateral Fund;
and (d) all income and profit from the investment of the foregoing money. The term “Issuer Revenues”
does not include any money or investments in the Rebate Fund, nor does it include payment of any
Additional Payments due from the Borrower to the Issuer under the Loan Agreement, including payment
of the Administrative Fee or reimbursement of any expenses incurred by the Issuer.
“Lien” means any mortgage, deed of trust, lien, charge, security interest or encumbrance of any
kind upon, or pledge of, any property, whether owned as of or hereafter acquired, and includes the
acquisition of, or agreement to acquire, any property subject to any conditional sale agreement or other title
retention agreement, including a lease on terms tantamount thereto or on terms otherwise substantially
equivalent to a purchase.
“Loan” means the loan by the Issuer to the Borrower of the proceeds received from the sale of the
Bonds.
“Loan Agreement” means the Loan Agreement, dated as of July 1, 2026, between the Issuer and
the Borrower and assigned by the Issuer, except for Unassigned Issuer’s Rights, to the Trustee, as amended
or supplemented from time to time.
“Loan Payment Cure Period” means a period of four (4) Business Days following any Loan
Payment Date.
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