Contract analysis

ARTICLE 1 — DEFINITIONS AND CONSTRUCTION

Section 1.1 — Definitions As used in this Agreement, the following terms shall have the meanings set forth below: "Acceptable Accountant" means a nationally or regionally recognized independent certified public accounting firm reasonably acceptable to Administrative Agent. As of the date hereof, Whitfield Albrecht & Co. LLP qualifies as an Acceptable Accountant. "Acceptable Environmental Consultant" means an environm

Section 1.2 — Rules of Construction For purposes of this Agreement and each other Loan Document, the following rules of construction shall apply unless the context clearly requires otherwise: (a) References to "Articles," "Sections," "Exhibits," and "Schedules" are references to Articles, Sections, Exhibits, and Schedules of this Agreement unless otherwise expressly stated. All Exhibits and Schedules attached hereto

Section 1.3 — SOFR Benchmark Provisions (a) Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event occurs with respect to Term SOFR, Administrative Agent and Borrower may amend this Agreement (without the consent of any other Lender, but with notice to the Lenders) to replace Term SOFR with a Benchmark Replacement in accordance with the fo

Section 2.1 — Loan Amount; Commitments (a) Subject to the terms and conditions of this Agreement, each Lender severally (and not jointly or jointly and severally) agrees to make advances (each, an "Advance") to Borrower from time to time during the Construction Period in an aggregate principal amount not to exceed such Lender's commitment as set forth on Schedule 2.1 (each, a "Commitment" and, collectively, the "Comm

Section 2.2 — Interest Rate (a) Subject to the provisions of this Section 2.2, the outstanding principal balance of the Loan shall bear interest from the date of each Advance at a rate per annum (the "Interest Rate") equal to Term SOFR (determined on the second U.S. Government Securities Business Day preceding the first day of the applicable Interest Period) plus four hundred and twenty-five basis points (4.25%). (b)

Section 2.3 — Interest Periods (a) Each Interest Period shall be one (1) month in duration. The first Interest Period shall commence on the Closing Date and shall end on July 15, 2025. Each subsequent Interest Period shall commence on the day immediately following the last day of the immediately preceding Interest Period and shall end on the numerically corresponding day of the next succeeding calendar month; provide

Section 2.4 — Payments of Interest (a) During the Construction Period and throughout the remaining term of the Loan, interest on the outstanding principal balance of the Loan shall be payable monthly in arrears on each Payment Date, commencing on July 15, 2025, and continuing on the fifteenth (15th) day of