Common use of Project Application Clause in Contracts

Project Application. The Company has submitted a loan application (“Application”) to Holder to cost-share a project that will stimulate the commercialization of a new product or service, stimulate the formation and growth of technology businesses, increase Maine’s capacity for technology-based companies and services, address gaps in the technology-related business infrastructure, or create and support an integrated targeted-industry cluster enhancing the competitive position of those industries in Maine (“Project”).