Agenda - 06-24-1986 - Laserfiche WebLink

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"Personal Guarantors" shall mean Mr . Jerome J . Richardson and Mrs. Rosalind S. Richardson, their heirs and assigns . "Personal Guaranty" shall mean the Guaranty Agreement , of even date herewith, from the Personal Guarantors to the Holder , together with any amendments and supplements thereto permitted by the Bond Purchase Agreement . "Plans and Specifications" shall mean the plans and specifications used in the Acquisition of the Project , as the same may be revised from time to time by the Company in accordance with Section 3 . 3. "Prime Rate" shall mean the rate of interest per annum equal to the rate of interest publicly announced by NCNB National Bank of North Carolina as its prime rate, such rate to be adjusted daily to conform to the prime rate in effect on each day. "Project" shall mean, collectively, the property described in Exhibit B hereto, as the same may at any time exist. "Project Fund" shall mean the fund created pursuant to Section 9 of the Bond Purchase Agreement . "Purchaser" shall mean NCNB National Bank of North Carolina, a national banking association with its principal office in Charlotte, North Carolina, in its capacity as the original purchaser of the Bond pursuant to the Bond Purchase Agreement, and its successors. "Security Agreement" shall mean the Security Agreement, of even date herewith, between the Company and the Authority, and any amendments and supplements thereto permitted by the Bond Purchase Agreement. "State" shall mean the State of North Carolina. "Tax Regulations" shall mean the applicable regulations under Section 103 of the Code whether at the time proposed, temporary, final or otherwise. Section 1. 2. Rules of Construction. (a) Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders, and words of the neuter gender shall be 8.