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ARTICLE I <br /> Definitions <br /> Section 1.01. Definitions. Capitalized terms used in this Agreement shall have the <br /> following meanings. <br /> Additional Bonds means any obligations payable from or secured by District Revenues <br /> pursuant to Section 4.06 of this Agreement. <br /> Annual Capital Repair Reserve Payment has the meaning given such term in <br /> Section 2.02 (e) of this Agreement. <br /> Annual Contribution means Five Hundred Thousand Dollars ($500,000.00) pursuant to <br /> Section 2.01(a) of this Agreement. <br /> Annual Contribution Interlocal means the Interlocal between the City of Everett and the <br /> Everett Public Facilities District to assist in the reduction of Everett Events Center indebtedness, <br /> entered into the 24th day of January, 2007 between the City and the District. <br /> Annual Full Funding Date means, in each fiscal year of the District, the date in each <br /> fiscal year of the District on which the District shall have (a) paid into the 2018 Bond Account an <br /> amount sufficient to pay all debt service scheduled to come due or to mature (whether at maturity <br /> or mandatory redemption in advance of maturity) with respect to the 2018 Bonds in that fiscal <br /> year and (b) made all payments then scheduled to have been made, if any, to cure a deficiency in <br /> the 2018 Bond Reserve Requirement. <br /> Board means the Board of Directors of the District, the general legislative body of the <br /> District, as constituted from time to time. <br /> Capital Expenditure means the acquisition of a prior non-existing asset or the repair or <br /> replacement of a pre-existing asset, (i) that is not characterized as an operating cost or expense <br /> under generally accepted accounting principles, (ii) which maintains the value of the Events <br /> Center over its usual life and is permanently affixed to the real estate, and (iiii) does not include <br /> personal property or removable trade fixtures. <br /> Capital Needs Assessment has the meaning given such term in Section 2.02(e) of this <br /> Agreement. <br /> Capital Reserve Account means the Capital Reserve Account of the District created and <br /> maintained by the Treasurer pursuant to the Section 2.02(e) of this Agreement. <br /> City means the City of Everett. <br /> City Council means the general legislative body of the City. <br /> -3- 501534419 v3 <br />