2011 - 01-31-2011 Reg. Adj. Meeting

Home Browse Search

bou� 2'3 el �Al5 and WHEREAS; the Applicant has committed to match the amount of any funds granted to it from the One North Carolina Fund program; and WHEREAS; the Applicant's application has been approved by DOC for fimdin ' -: NOW THEREFORE, in consideration of the mutual covenants and promises set forth below, the Applicant and DOC hereby agree as follows: I. DEFINITIONS Except to the extent modified or supplemented by the Agreement, the following terms will have the following meanings. (a) "Agreement " means this Local Government Grant Agreement, as described above and any amendments or supplements thereto, and includes all commitments and representations made by the Applicant or its agents in the approved Local Government Application, including all certifications, maps, schedules and submissions that are part of the application. (b) "Applicant" means the entity designated to be the recipient for grant assistance in the Agreement. (c) "Assistance" means those funds provided or to be provided to the Applicant from the Program under this Agreement. (d) "Company" means the corporation, partnership, proprietorship or other business entity, which has entered into a legally binding Company Performance Agreement, with the Applicant to expand, create and /or retain jobs and to take any other actions for the good of North Carolina's economic development as part of this Program. For purposes of this Agreement, the Company is Caterpillar Tue. The Company's performance obligations under the Company Performance Agreement will be performed collectively with a Related Member, who is also a party to the Company Pcrformance Agreement. (e) "Company Application" means the application described in the Program Guidelines and Procedures and completed by the Company, the Related Members, and the Guarantor, and includes all certifications, maps, schedules and submissions that are part of the application. (f) "Local Government Application" means the application described in the Program Guidelines and Procedures and completed by the Applicant to apply for funds from the Program and includes all certifications, maps, schedules and submissions that are part of the application. (g) "Program' means the One North Carolina Fund, includin', the administration thereof, from which Assistance is being provided under this Agreement. (h) "Program Guidelines and Procedures" mean the Guidelines and Procedures for Commitment of Funds from the One North Carolina Fund, established pursuant to N.C. Gen. Star. § 143B- 437.73 and in effect as of the effective date of this Agreement. (i) "Related Member" means Caterpillar Logistics Services, Inc. IL DOC CONIMITMENTS (a) DOC agrees to provide to the Applicant Assistance hom the Pro,-ram in the maximum amount of Six Hundred Thousand Dollars ($600,000.00) for the Project