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Affiliate means a corporation, partnership, association, limited liability company or <br />similar entity organized under the laws of the United States of America or a state thereof which <br />is directly controlled by or under common control with the Developer or the Business. For <br />purposes of this definition, control means the power to direct management and policies through <br />the ownership of at least a majority of its voting securities, or the right to designate or elect at <br />least a majority of the members of its governing body by contract or otherwise; <br />Agreement means this Tax Abatement and Business Subsidy Agreement, as the same <br />may be from time to time modified, amended or supplemented, as provided by the terms of this <br />Agreement; <br />Benefit Date means the date which is the earlier of (i) the date the City issues a certificate <br />of occupancy for the Project, or (ii) the date the Developer fully occupies the Project; <br />Business Day means any day except a Saturday, Sunday or a legal holiday or a day on <br />which banking institutions in the City are authorized by law or executive order to close; <br />Business Subsidy Act means Minnesota Statutes, Sections 116J.993 through 116J.995, as <br />amended; <br />City means the City of Elk River, Minnesota; <br />CouM means Sherburne County, Minnesota; <br />Developer means Harvest Reaper, LLC, a Minnesota limited liability company, its <br />successors and assigns; <br />Eligible Costs means the actual costs of constructing a watermain extension on the Tax <br />Abatement Property in connection with the Project under the Tax Abatement Act; <br />Event of Default means any of the events described in Section 4.1; <br />Net Tax Capacity has the meaning provided in Minnesota Statutes, Section 273.13, <br />Subdivision 21b, as amended; <br />Project means the acquisition, construction and equipping of an approximately 25,000 <br />square foot facility on the Tax Abatement Property to be owned by the Developer and leased to <br />the Tenant to expand their lubricants operation in the City; <br />Reimbursement Amount has the meaning set forth in Section 3.1(2) hereof, <br />State means the State of Minnesota; <br />Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815, as <br />amended; <br />2 <br />EL 185\74\870137.v5 <br />