Orange County NC Website
13 <br /> ExWbit A—Deflniflons <br /> For all purposes of this Support Agreement, the following terms shall have the <br /> following meanings, unless the context clearly requires otherwise: <br /> "Administrative Expenses" means all of the Company's general and office <br /> expenses of operation and of administration of the Loan Program, for such things as <br /> office supplies and equipment,utilities,insurance, and banking and professional fees. <br /> "Banks" means those financial institutions that are parties to the Loan Agreement <br /> with the Company and the County. <br /> "Business Day" means any day on which banks in North Carolina are not by law <br /> authorized or required to remain closed. <br /> "Company Loan Loss Account"means the bank account or accounts owned by the <br /> Company to which the Company directs the County to pay over amounts from the Loan <br /> Loss Reserve upon a Loan Loss. - <br /> "County Board" means the County's governing Board of Commissioners, or any <br /> successor to its functions, as from time to time constituted. <br /> "Fiscal Year" means the County's fiscal year beginning July 1, or such other fiscal <br /> year as the County may later lawfully establish. <br /> "Event of Default" means any party's breaching or failing to perform or observe any <br /> term, condition or covenant of this Support Agreement on its part to be observed or <br /> performed for a period of 45 days after written notice specifying such failure and requesting <br /> that it be remedied shall have been given to the defaulting party by the non defaulting party, <br /> unless the non-defaulting party shall agree in writing to an extension of such time prior to its <br /> expiration. <br /> "Governing Documents" means the Company's *Articles of Incorporation and <br /> bylaws, the Loan Agreement and this Support Agreement, and any resolution or other <br /> corporate proceeding adopted at the County's request or authorizing any of the foregoing. <br /> "Guidelines" means the guidelines for the Loan Progmm finally approved by the <br /> County Board by resolution adopted 91 2000, as the County Board may <br /> duly amend the same from time to time. <br /> "Loan Agreement" means the Loan Agreement dated as of March 2000, <br /> among the Company, the County and certain financial institutions providing for loans to <br /> the Company for the Loan Program. <br /> 8 <br />