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82-173
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1/3/2012 12:33:29 PM
Creation date
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City Clerk
Doc Type
Resolution
Doc #
82-173
Date
12/20/1982
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(j) Fina. ncing. 'Financing" and its variants mean the lendin~ of <br />moneys or any other thing of value for the purpose of facilitatinq the <br />acquisition of the Project {or the reimbursement to the Participating Party <br />for any portion of the Project already acquired), pursuant to the Ordinance. <br /> <br /> (k) Fiscal Year. 'Fiscal Year' 'means any twelve-month period <br />extending from ~one calendar year to June 30 of the succeedinq <br />calendar year, both inclusive, or any other twelve-month period hereafter <br />selected and designated by the City as its official fiscal ye~ period. <br /> <br /> (1) Loan . 'Loan" means the loan made by the City to the <br />Participating ParT, or the Financing of the Project pursuant to the Aqreement <br />and evidenced by the Promissory Note. <br /> <br /> (m) Loan Payments . <br />to be made by the Participating <br />Agreement. <br /> <br />"Loan Payments" means the payments required <br />Party pursuant to Section 1.03{a) of the <br /> <br /> (n) Note . "Note" means the City of Santa An, lgB? Industrial <br />Revenue Note (SPS Technologies, Inc.) authorized to be issued by Section 2.01 <br />hereof. <br /> <br /> (o) Ordinance . "Ordinance" .means Ordinance No. NS1609 adooted bv <br />the City Council on November 16, I981, under the Charter, as the same may be <br />amended from time to time. <br /> <br /> (p) Outstandin9 . 'Outstanding", when used as of any oarticular <br />time with reference to the Note, means (subject to the provisions of Section <br />7.04) the principal emount outstanding and unpaid on the Note. <br /> <br /> {q) ~articipatin9 Party . 'Participating Party' means SOS <br />Technologies, Inc., a corporation organized and existing' under the laws of the <br />Commonwealth of Pennsylvania and in good standing under the laws of the State <br />of California. <br /> <br /> (r) Payment Date . 'Payment Date", with respect to any day on <br />which a payment is due hereunder, means the sane day of the month as that on <br />which the Note is delivered or in the event that such day is not a business <br />day, the next Preceding day which is a business day. <br /> <br /> (s} Prime Rate . 'Prime Rate" means the floating commercial loan <br />rate of interest of the Bank announced from time to time as its prime rate, as <br />adjusted on the day on which any change in said prime rate shall become <br />effective. <br /> <br /> (t) Project . 'Project' means the wastewater treatment machinery <br />and equipment consisting of an Atlantes Chemical System with a capacity of 1RO <br />gallons per minute and an ability to destroy cyanide, adjust oH and remove <br />heavy metals and related and auxiliary facilities and property, to be located <br />in the Facility pursuant to the Agreement and the Ordinance. <br /> <br /> (u) Promissory Note . "Promissory Note'. means the note executed <br />by the Participating Party evidencing and securing the repayment of the Loan <br />pursuant to the Agreement. <br /> <br /> (v) Revenues . 'Revenues" means all rents, receipts, payments and <br />other income anc~ revenue received by the City or the Bank with respect to, or <br />otherwise derived from, the Financing of the Project, tncludinq without <br />limitation all base loan payments and prepayments thereof received from the <br />Participating Party pursuant to the Agreement and the Promissory Note, all <br />additional payments required to be paid pursuant to Section 1.03{b) of the <br />Agreement, all ~ounts derived by the City or the Bank from the enforcement of <br />the City's or the Bank's rights and privileges under the Aqreement, all <br />proceeds derived by the City or the Bank from the insurance policies <br />maintained pursuant to the Agreanent. <br /> <br /> (w) Supplemental Resolution . 'Supplemental Resolution" or <br />'supplemental resolution" means any resolution then in full force and effect <br />which has been duly adopted by the City Council of the City under the <br />Ordinance, at a meeting of the City Council duly convened and held, at which a <br />quoru~n was present and acted thereon, amend,tory of or su~olemental to this <br />Resolution; but only if and to the extent that such Supplemental Resolution is <br />specifically authorized hereunder. <br /> <br /> <br />
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