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"Construction Fund"means the fund by that name created in Section 4.01. <br /> "Contract" means the Facilities/Management Services Contract dated as of December 1, 1993, <br /> among the Corporation and the County, and any amendments or supplements thereto. <br /> "Contract Expiration Date"means the effective date of termination of the Contract by the County <br /> pursuant to Article N of the Contract. <br /> "Corporation Representative"means any of the following: (i) the President of the Corporation; <br /> (ii)any Secretary-Treasurer of the Corporation;or(iii)any other person or persons at the time designated <br /> to act on behalf of the Corporation for purposes of performing any act on behalf of the Corporation under <br /> the Contract or this Indenture by a written certificate furnished to the County and the Trustee containing <br /> the specimen signature of such person or persons and signed on behalf of the Corporation by the <br /> President of the Corporation. <br /> "Cost,"as applied to the Project or any Improvements, means the cost of acquisition,construction <br /> and equipping of the Project and any Improvements and all obligations and expenses and all items of cost <br /> which are set forth in Section 4.03. <br /> "Costs of Issuance" means all fees, costs and expenses payable or reimbursable directly or <br /> indirectly by the Corporation and related to the authorization, sale and delivery of the Bonds as specified <br /> in a certificate of the Corporation delivered on the date the Bonds are issued. <br /> "County"means the County of Orange, North Carolina. <br /> "County Representative"means any of the following: (i)the County Manager of the County; (ii) <br /> the Finance Director of the County; or (iii)any other person or persons at the time designated to act on <br /> behalf of the County for purposes of performing any act on behalf of the County under the Contract by <br /> a written certificate furnished to the Corporation and the Trustee containing the specimen signature of <br /> such person or persons and signed on behalf of the County by the Chairman of the Board of <br /> Commissioners of the County. <br /> "Current Expenses"means the current expenses, paid or accrued, of operation, maintenance and <br /> current repair of the Project and any Improvements, as calculated in accordance with Generally Accepted <br /> Accounting Principles, and includes, without limiting the generality of the foregoing, insurance <br /> premiums, any amount required to be rebated to the United States Government, amounts payable by the <br /> Corporation under the Deed of Trust other than the principal of, premium, if any, and interest on the <br /> Bonds, administrative expenses of the Corporation relating solely to the Project and any Improvements, <br /> labor, executive compensation, the cost of materials and supplies used for current operations, taxes and <br /> charges for the accumulation of appropriate reserves for current expenses not annually recurrent, but <br /> which are such as may reasonably be expected to be incurred in accordance with sound accounting <br /> practice. "Current Expenses" will not include (i) interest on the Bonds, (ii) any allowance for <br /> depreciation or replacements of capital assets of the Project or any Improvements, or (iii) amortization <br /> of financing costs. <br /> "Deed of Trust"means the Deed of Trust and Security Agreement dated December_, 1993 from <br /> the Corporation to the Deed of Trust trustee named therein. <br /> "Default" and "Event of Default"mean any occurrence or event specified in Section 9.01. <br /> 4 <br />