AG 2009 08 17 - Laserfiche WebLink

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EXHIBIT B DEFINITIONS: RULES OF CONSTRUCTION Definitions. For all purposes of this Agreement, unless the context requires otherwise, the following terms have the following meanings: "Agreement Date" means the date first set forth in this agreement. "Agreement Term" means the period of time commencing with the Agreement Date, and extending until the termination of the Agreement as provided in Article VI and/or Section 2.01. "Assessed Valuation" means the value of property (both real property and personal property) for property tax purposes as determined by the Cabarrus County Tax Assessor as of January 1 of a given calendar year pursuant to North Carolina General Statutes § 105-285. "Business Day" means any day that is not a Saturday, Sunday, or a day on which banks in the State are required by law to be closed. "County Tax Rate" means the effective ad valorem property tax rate of the COUNTY, which is 0.0063 as of the Agreement Date.. The "Facility" must be a speculative industrial shell building (comprising approximately 177,000 square feet under roof and the accessory parking, loading, landscaping and utilities (such as stormwater control structures). "Incentive Period" means the three-year period beginning with the Opening Date, or the three-year period during which time the Grants may be provided, whichever shall terminate later in time. The "Completion Date" is the date the Facility opens for lease, or sale in substantially completed shell form. The "Completion Date" will not in any event be deemed to have occurred before the appropriate government officials grant a Shell Building Certificate of Occupancy to COMPANY for the Facility. "State" means the State of North Carolina. Rules of Construction. Unless the context otherwise indicates: (a) words importing the singular include the plural and vice versa, and words importing the masculine gender include the feminine and neuter genders as well; (b) all references to Articles, Sections, or Exhibits are references to Articles, Sections and Exhibits of this Agreement; Page 13 of 14 S/IS/200~ttachment number 5 Page 245 of 315 G-1