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"Certificate" means a certification in writing required or permitted by the <br /> provisions of this Agreement or the Indenture, signed and delivered to the Trustee or other <br /> proper person or persons. If and to the extent required by the provisions of Section 1.02 hereof, <br /> each Certificate shall include the statements provided for in said Section 1.02. <br /> "City" means the City of Orono, a Minnesota municipal corporation. <br /> "Closing Date" means the date of issuance and initial delivery to the Original <br /> Purchaser of the Series 2001 Bonds. <br /> "Collateral" means the Collateral defined in Section 8.08. <br /> "Completion Date" means the date on which all acquisition, construction and <br /> equipping of the Project is substantially completed,as evidenced pursuant to Section 3.10 hereof. <br /> "Continuing Disclosure Agreement"means the Continuing Disclosure Agreement,dated as <br /> of November 1, 2001, between the Trustee and the Borrower. <br /> "Default" means any event or condition, which, with the passage of time, notice <br /> or both, will constitute an Event of Default. <br /> "Debt Service Coverage Ratio" means for any or all Series of Bonds and for any <br /> period the ratio of Net Revenues Available for Debt Service to the actual Debt Service <br /> Requirement for any or all Series of Bonds. <br /> "Debt Service Requirement" means, with respect to any period, the aggregate <br /> principal and interest due on Indebtedness, including amounts due with respect to sinking fund <br /> or similar scheduled payments. <br /> "Development Agreement" means the Development Agreement, dated as of <br /> November 1,2001 between the City,the Orono Housing and Redevelopment Authority,and the <br /> Borrower, as amended from time to time. <br /> "Disbursing Agreement"means the Disbursing Agreement,dated as ofNovember <br /> 1, 2001, between the Borrower, the Trustee and Universal Title Company, as <br /> disbursing agent. <br /> "Equipment" means all items of furnishings, furniture, equipment, and other <br /> tangible personal property. <br /> "Event of Default" means an event of default described in Section 7.01 of this <br /> Agreement which has not been cured. <br /> -3- <br />