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� � r <br /> � y <br /> "System Debt" means all obligations incurred or assumed by the County in <br /> connection with the ownership or operation of the System for payments of principal and <br /> interest with respect to borrowed money, without regard to the form of the transaction, <br /> and specifically including leases or similar financing agreements which are required to be <br /> capitalized in accordance with generally accepted accounting principles. System Debt is <br /> "Outstanding"at all times after it is issued or contracted until it is paid. <br /> "System Employees" means employees of Chapel Hill directly engaged in <br /> carrying out the business of the Solid Waste System (but expressly not including <br /> employees of Chapel Hill's sanitation department). <br /> "System Management Facilities" means those assets of the Solid Waste System <br /> used to provide final disposal of solid waste, such as landfills. <br /> "System Revenues" means all amounts derived by the County from the <br /> imposition of rates, fees and charges for the use of, and for the services fiunished by, the <br /> Solid Waste System. <br /> "Towns"means, collectively, Carrboro, Chapel Hill and Hillsborough. <br /> "Transfer" means the conveyance of the Existing System Assets to the County <br /> pursuant to the Transfer Agreement in accordance with Article H. <br /> "Transfer Agreement"has the meaning assigned in Section 2.01. <br /> 21 <br />