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B. "Commencement Date. The date in which the Company begins actual operations at the
<br /> Subject Property, after having obtained applicable governmental approvals, certificates
<br /> of zoning compliance, and certificates of occupancy. The Commencement Date is
<br /> anticipated to be no later than July,2020.
<br /> C. "Company." Medline Industries, Inc. includes its affiliates, successors,and assigns.
<br /> D. "Eligible Property." Includes(a) the Subject Property(as defined in Exhibit B, Legal
<br /> Description of Real Property), other real property in the County, and all improvements
<br /> the Company or an Affiliate of the Company constructs or installs, or causes to be
<br /> constructed or installed, at the Subject Property or such other real property, including all
<br /> buildings, building systems, and building improvements, and(b) all personal property
<br /> (as defined in Section I.I. below, Personal Property) the Company or an Affiliate of the
<br /> Company purchases or leases and installs, at or relocates to, the Facility or such other
<br /> real property.
<br /> E. "Grant."An economic incentive grant to the County pursuant to Section 3 of this
<br /> Agreement.
<br /> F. "Minimum Taxable Investment." The aggregate investment amount in property and
<br /> infrastructure the Company intends to make and that Company and County anticipate
<br /> will result in a tax valuation of at least$65,300,000.00.
<br /> G. "Orange County Facility""Mebane Facility," or"Facility." The Company constructed
<br /> and/or owned primary and secondary structures, utilities, and operations and service
<br /> areas situated on the Subject Property in Mebane, Orange County,North Carolina in and
<br /> on which Company conducts its business,manufacturing, and/or operations.
<br /> H. "Person." Any individual,partnership, trust, estate,association, limited liability
<br /> company, corporation, custodian, nominee,governmental instrumentality or agency,
<br /> body politic or any other entity in its own or any representative capacity.
<br /> I. "Personal Property." All personal property the Company or an Affiliate owns or leases
<br /> located at the Facility, including all (a)machinery and equipment, (b) furniture,
<br /> furnishings, and fixtures, (c)property that is capitalized for federal or state income tax
<br /> purposes, (d) all additions to any of the foregoing, and all replacements of any of the
<br /> foregoing in excess of$100,000.
<br /> J. "Qualifying Expenditure." All expenditures the Company, an Affiliate, or lessor to the
<br /> Company or an Affiliate makes for Eligible Property which is subject to Tax in the
<br /> County and is not subject to an exemption from.Tax that the Company uses.
<br /> K. "State." The State of North Carolina.
<br /> L. "Subject Property." The property on which Company constructs and/or operates the
<br /> Orange County Facility.
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