AK48 Notes definition
AK48 Notes means, collectively, the AK48 FFB Note and the AK48 Reimbursement Note. “AK48 Reimbursement Note” shall mean the note of the Borrower, dated February 24, 2026, evidencing the reimbursement obligations of the Borrower to the Government, acting by and through the Administrator of the RUS, with respect to the Government’s guarantee of the AK48 FFB Note, and all amendments, supplements, extensions and replacements to, of or for such note. “Business Day” shall mean any day that the RUS and FFB are both open for business. “Contemporaneous Loans” shall mean those loans identified as such on Schedule 1 hereto. Any loan used to refinance or refund a Contemporaneous Loan is also considered to be a Contemporaneous Loan. “Credit Rating” shall mean (i) a rating assigned by a Rating Agency to any long-term indebtedness (that is not subject to Credit Enhancement)(including, without limitation, indebtedness issued by any governmental authority with respect to which the Borrower is an obligor) secured directly or indirectly under the Indenture, or (ii) if a Rating Agency has not assigned a rating of the type described in clause (i) above, an indebtedness or company rating assigned by a Rating Agency of the type that is the same or substantially similar to the type that the Borrower has in place on the date of this Agreement. “Current Refunding” shall mean any refinancing or refunding of indebtedness that occurs not more than ninety (90) days following the Stated Maturity of such indebtedness.