“Closing Date” means October 20, 2020.
“Code” means the Internal Revenue Code of 1986, as amended.
“Compliance Officer” means the _ __ or its designee.
“Financed Assets” and “Financed Asset” means, as the context requires, all or any
portion of the Project financed with proceeds of the Lease Agreement, as described on Exhibit
C hereto.
“Investment” means any security, obligation, annuity contract or other
investment-type property that is purchased directly with, or otherwise allocated to, Lease
Proceeds. This term doesnot include a tax-exempt bond, except for “specified private activity
bonds” as definedin Code § 57(a)(5)(C), but it does include the investment element of most
interest rate caps.
“TRS” means the Internal Revenue Service.
“Lease Agreement” means the Equipment Lease Purchase Agreement dated as of
October 20, 2020, between the City of Nashua, New Hampshire, on behalf of Nashua School
District, as lessee, and the Lessor, as lessor, as amended from time to time.
“Lease Proceeds” means the gross proceeds of the Lease Agreement, which include (a)
sale proceeds (any amounts actually or constructively received by the Issuer or the District
from the execution and delivery of the Lease Agreement, including amounts used to pay a
discount or fees to the Lessor, but excluding pre-issuance accrued interest), (b) any amounts
received from investing sale proceeds or transferred proceeds or other investment proceeds, (c)
any amounts held in a sinking fund for the Lease Agreement, (d) any amounts heldina
pledged fund or reserve fund for the Lease Agreement, (e) any other replacement proceeds, and
(f) any transferred proceeds.
“Management Agreement” means a legal agreement defined in Regulations § 1.141-3(b)
as a management, service, or incentive payment contract with an entity that provides services
involving all or a portion of any function of a Financed Asset or a Benefitted Facility, such asa
contract to manage all or any portion of the Financed Assets or the Benefitted Facilities.
However, contracts for services that are solely incidental to the primary governmental function of
a Financed Asset or a Benefitted Facility (for example, contracts for janitorial, office equipment
repair, billing or similar services); however, are not treated as Management Agreements.
“Measurement Period” means, with respect to the Financed Assets, the period
be ginning on the later of (i) the Closing Date or (ii) the date the property is placedin service and
ending on the earlier of (A) the final maturity date of the Lease Agreement or (B) the expected
economic useful life of the property.
“Non-Qualified Use” generally means any use of a Financed Asset or a Benefitted
Facility in a trade or business carried on by any Non-Qualified User that is different in form or
substance to the use made of a Financed Asset or a Benefitted Facility by any other member of
the general public. Generally, ownership, a lease agreement or any other use that provides a
Non-Qualified User a special legal right or entitlement to use a Financed Asset or a Benefitted
Facility will constitute Non-Qualified Use.
“Non-Qualified User” means any person or entity other than the Issuer or the District.
